政府补贴促进还是抑制企业创新持续性——基于异质性创新动机视角

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Abstract Based on propensity score matching and survival analysis, the relationship between government subsidy and innovation persistence is analyzed, and the effect of government subsidy on firm's innovation is expanded from the current period of existing research to its persistent progress.The estimations indicate the supported firms are more persistent than non-supported ones, and government subsidy increase the probability of future innovation.The effect of non-state-owned firms is more significant than that of state-owned firms.From the perspective of innovation motivation, the impact of government subsidy on the firm innovation persistence varies according to the different motives of firms to acquire them.Government subsidy have a stronger additional incentive effect on substantive innovation firms, which significantly reduces the hazard rate of innovation persistence in this kind of firms.The innovation persistence of strategic innovation firms is lower than that of non-supported firms, meanwhile the incentive effect of government subsidy on the innovation persistence is no longer significant.The conclusions provide new evidence for the study of the effect of government subsidy, and expand the research and application of innovation persistence theory to some extent, as well as helping to understand the problem of firm's innovation persistence in the context of the strong influence of Chinese industrial policy.

Key words： Government subsidy Substantive innovation Strategic innovation Innovation persistence

Received: 20 July 2020

PACS:	F273
	F223

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	Articles by authors
	Yu Fen
	Fan Xia
	Zhang Qiaoling

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Yu Fen,Fan Xia,Zhang Qiaoling. Do Government Subsidy Promote or Inhibit Innovation Persistence——Based on the Perspective of Heterogeneity Innovation Motivation[J]. , 2021, 2(5): 67-78.

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http://www.zgkjlt.org.cn/EN/ OR http://www.zgkjlt.org.cn/EN/Y2021/V2/I5/67

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