Analysis of Impact of Government Incentive Policies on Growth-Exit of High-Tech Enterprises from a Dynamic Perspective

被引：0
|
作者：
Ren H. [1 ]
Zhong D. [1 ]
机构：
[1] School of Economics and Management, Tongji University, Shanghai
来源：
Tongji Daxue Xuebao/Journal of Tongji University | 2023年 / 51卷 / 02期
关键词：
exit of high-tech enterprise; government incentive policy; high-tech enterprise; recognition of high-tech enterprise;
D O I：
10.11908/j.issn.0253-374x.22007
中图分类号：
学科分类号：
摘要：
In order to evaluate the real effect of government industrial policy incentives, in this paper a full sample of high-tech enterprises in Shanghai Zhangjiang High-Tech Park from 2012 to 2018 is used, and a panel data regression model and a Cox proportional risk model are applied to analyze the main factors affecting the growth and exit risks of high-tech enterprises from a dynamic perspective. The research result show that enterprises with high-tech recognition will indeed improve their level of development, profitability and innovation, but the enhancement effect varies significantly. In addition, the strength of the research and development subsidies and tax incentives of government is inversely related to the exit risk of high-tech enterprises. Besides, from the innovation dimension, the scale of enterprise innovation and the number of patents can more robustly reflect the relationship between innovation and the recognition of high-tech enterprises. Therefore, the central and local governments need to take these factors into account when optimizing the recognition criteria and improving the incentive policies system. © 2023 Science Press. All rights reserved.
引用
收藏
页码：295 / 302
页数：7
相关论文
共 18 条
  • [1] LIU Guangqiang, Analysis of the incentive effects of tax incentives and financial subsidies - an empirical study based on the perspective of information asymmetry theory, Journal of Management world, 22, 10, (2016)
  • [2] BAO Zongke, Innovative behavior and survival risk of Chinese enterprises: An empirical research, Finance & Trade Economics, 36, 2, (2016)
  • [3] YANG Guochao, LIU Jing, KANG Peng, Et al., Tax-reducing incentives, R&D manipulation and R&D performance, Economic Research Journal, 52, 8, (2017)
  • [4] YANG Guochao, ZHANG Lina, How to make industrial policy more effective？ —evidence based on massive media data and R&D manipulation, China Economic Quarterly, 21, 6, (2021)
  • [5] MA Guangrong, LI Lixing, Financial contracting efficiency, firm exit and resource misallocation, The Journal of World Economy, 37, 10, (2014)
  • [6] LU Yuduo, DAI Meihong, LIU Haiyang, Does financial constraints decrease the survival likelihood of Chinese R&D firms？, Studies in Science of Science, 32, 10, (2014)
  • [7] ZHANG Weiying, ZHOU Li'an, GU Quanlin, The mechanism of firm exit in economic transition: An empirical analysis for Zhongguancun science park of Beijing, Economic Research Journal, 48, 10, (2003)
  • [8] WU Jianfeng, LI Zijie, WU Yajun, Competition density, legitimacy and the survival of foreign enterprises: a study based on the high-tech park in Zhongguancun, Economic Science, 30, 5, (2009)
  • [9] FU Liping, LI Xiaojing, The signaling effect of government subsidies in the corporate innovation process: Evidence from strategic emerging industries’listed companies, Systems Engineering, 32, 11, (2014)
  • [10] MA Yuqi, HU Ruipeng, ZHAO Yanyun, The study of ownership, industry difference and exit mechanism of high-tech enterprises, Studies in Science of Science, 36, 9, (2018)
12