补贴时点对新能源研发创新的影响与区域差异被引量：15

Influence of subsidy timing on new energy R&D and innovation and regional differences

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摘要根据政府补贴和研发活动的时间顺序划分事前补贴和事后补贴,手工摘取公司财务报表数据更贴切实际。从环境不确定性视角出发,理论上剖析事前补贴和事后补贴直接及通过研发投入间接影响新能源企业创新绩效的影响机制,然后建立面板Tobit模型分别基于全国和东、中、西部样本检验其直接和间接影响效应,以及环境不确定性在直接路径和中介过程前、后路径上的调节效应。研究结果表明:(1)从整体上看,事前补贴能较好地缓解新能源企业的融资约束,既能通过促进研发投入(事前补贴每增加1元,新能源企业研发投入将增加1.12元)间接提升创新绩效,也能带动先进资源进入而直接提升创新绩效(1.20×10^(-7))。而因事后补贴发生于研发活动之后,对研发投入的激励效应有限,但能激励企业管理者加强研发创新管理而直接促进创新绩效(3.72×10^(-8))。(2)因环境不确定性加剧了事前补贴对企业自身研发资金的挤出效应及创新管理的难度,因而对事前补贴影响创新绩效的中介过程前(-2.13)、后(-4.96×10^(-7))路径均具有负向调节作用。(3)因中、西部地区财政补贴对新能源企业自身研发投入的挤出效应,及企业低水平的研发创新效率,财政补贴通过研发投入促进创新绩效的中介路径受阻,而事后和事前补贴对创新绩效的直接影响分别在中、西部地区更为突显。(4)适度的环境不确定性能促进东部地区事前补贴对研发投入的激励作用,且更能突显西部地区事前补贴对创新绩效的直接促进作用,但负向调节中部地区事后补贴对创新绩效的直接作用。因此,建议从整体上加大事前补贴数量、降低新能源行业的环境不确定性,但不同地区应采取差异化的具体措施,如加大中部地区的事后补贴数量,适度提高东、西部地区的环境不确定性水平,加强东部地区企业研发活动应对市场变化的灵活性,提高中、西部地区新能源企业的竞争力及研发创新效率。 It is more appropriate to divide fiscal subsidies into subsidies beforehand(GSB)and subsidies afterwards(GSA)according to the time sequence of government subsidies and R&D activities,and manually extract the data from corporate financial statements.From the perspective of environmental uncertainty,this study attempts to analyze the theoretical mechanisms of GSB and GSA influencing innovation output of new energy companies directly and indirectly through R&D,and to establish panel Tobit models for China as a whole and the eastern,central and western regions respectively to test their direct and indirect effects and the moderating effects of environmental uncertainty in direct and indirect paths.The results show that:①GSB can help alleviate the financing constraints of new energy enterprises,and can not only indirectly promote innovation output by increasing R&D input(For every 1 yuan increase in GSB,the R&D input of new energy companies will increase by 1.12 yuan),but also directly raise innovation output with the introduction of advanced resources(1.20×10-7).GSA occur after R&D activities,and thus their incentive effects on R&D input are limited,but they can inspire managers to strengthen the innovation management and thus promoting innovation output directly(3.72×10^(-8)).②As environmental uncertainty intensifies the crowding out effects of GSB on companies’own R&D funds and difficultes for innovation management,and thus has negative moderating effects on the first half(-2.13)and second half(-4.96×10^(-7))of the mediation process of GSB affecting innovation output.③Due to the crowding out effect of fiscal subsidies on companies’own R&D input and the low efficiency of R&D activities,the intermediate path of fiscal subsidies to promote innovation output through R&D input is obstructed in the central and western regions,while the direct impact of GSA and GSB on innovation output is more prominent in the two regions respectively.④Moderate environmental uncertainty can promote the incentive effects of GSB on R&D input of new energy companies in the eastern region,and enhance the direct promoting effect of GSB on innovation output in the western region,but negatively moderate the direct impact of GSA on innovation output in the central region.Therefore,it is suggested that the government should increase GSB and reduce the environmental uncertainty of new energy industry on the whole.However it should adopt a diversity of specific measures for different regions,such as increasing GSA in the central region,moderately improving the environmental uncertainty level of the eastern and western regions,strengthening the flexibility of R&D activities to respond to market changes in the eastern region,and improving competitiveness and innovation efficiency of new energy companies in the central and western regions.

作者刘丰云沈亦凡何凌云 LIU Fengyun;SHEN Yifan;HE Lingyun(School of Economics and Management,China University of Mining&Technology,Xuzhou Jiangsu 221116,China;International Energy Policy Research Center of Colleges and Universities in Jiangsu,Xuzhou Jiangsu 221116,China)

机构地区中国矿业大学经济管理学院江苏高校国际能源政策研究中心

出处《中国人口·资源与环境》 CSSCI CSCD 北大核心 2021年第1期57-67,共11页 China Population,Resources and Environment

基金中央高校基本科研业务费专项资金资助“可再生能源研发投入的双轮驱动机制和非对称效应研究”(批准号:2020QN19)。

关键词事前补贴事后补贴环境不确定性研发投入创新绩效 subsidy beforehand subsidy afterwards environmental uncertainty R&D input innovation output

分类号 F812.45 [经济管理—财政学] F273.1 [经济管理—企业管理]

作者简介刘丰云,博士,讲师,主要研究方向为能源与环境经济、地理空间联系。E-mail:liufengyun@cumt.edu.cn。;通信作者:何凌云,博士,教授,博导,主要研究方向为能源与环境金融。E-mail:Lingyun_he@cumt.edu.cn。