高新技术企业认定对研发投入的政策效应研究——来自A股上市公司的经验证据

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Abstract Drawing on 3500 China's A-share listed companies from 2008 to 2017,this paper compares non-high-tech enterprises and high-tech enterprises to examine the effect of high-tech enterprise certification on R&D input based on propensity score matching.The results indicate that Recognition of high-tech enterprises of the parent company or subsidiaries has a significant and positive influence on R&D input;Compared with the recognition policy published in 2008,the high-tech enterprises identified by the recognition policy published in 2016 have the less incentive effect of R&D investment but the greater incentive effect of R&D manpower input;High-tech enterprises incline to self-select in increasing R&D input to gain the certification and not significantly adding R&D manpower input after the end of high-tech enterprise certification,and high-tech enterprises become more innovative during the period of certification;Both parent and subsidiary companies in the current period have the high probability to have the same status as the previous period.The results mean that the high-tech enterprise certification policy is an effective institutional arrangement,but government should improve the identification policy in terms of stimulating enterprises to continuously carry out scientific and technological innovation to build an innovative country and a global scientific power.

Key words： High-tech enterprise certification R&D input Propensity score matching

Received: 09 July 2018

PACS:

F015

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	Chen Zhenzhen
	He Yu
	Xu Changsheng

Cite this article:

Chen Zhenzhen,He Yu,Xu Changsheng. R&D Performance of High-tech Enterprise Certification:Evidence from A-share Listed Companies[J]. , 2019, 0(7): 1-10.

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http://www.zgkjlt.org.cn/EN/ OR http://www.zgkjlt.org.cn/EN/Y2019/V0/I7/1

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