The Differential Impact of Selective and Non-selective Government Subsidies on Performance of Technology-based Entrepreneurial Enterprises
Luo Xingwu1, Zhang Hao1, Liu Yang2
1. School of Business Administration,Zhejiang University of Finance and Economics,Hangzhou 310018,China; 2. School of Management,Zhejiang University,Hangzhou 310058,China
Abstract Based on the panel data of CIBPD 2011—2015 and the integrated use of PSM-DID and survival analysis,the paper manages to explore the micro-effect of selective and non-selective government subsidies on the performance of TBEE from the perspective of resources and systems integration.The empirical results of the three sub-studies including “is it effective?” “how to influence the performances?”and “whether it continues to affect performance?”show the followings.Both selective and non-selective government subsidies have a positive impact on the performance of TBEE.However,the effect of subsidies is more “supporting the strong”.Organizational legitimacy represents a vital channel for selective government subsidies to improve the performance of TBEEs,but has no significant transmission effect between non-selective government subsidies for “encourage the weak”and the performance of TBEE.In general,the government subsidies extend the duration of performance growth of TBEE.But mainly reflected in the effect of selective subsidies that “support the strong”.
Luo Xingwu,Zhang Hao,Liu Yang. The Differential Impact of Selective and Non-selective Government Subsidies on Performance of Technology-based Entrepreneurial Enterprises[J]. , 2021, 2(8): 12-21.
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2021, Vol. 2 
