摘要
宏观经济政策是影响微观企业价值创造的外部条件,探讨政府补贴这一重要经济政策的微观作用效果对于政府优化资源配置尤为关键。采用倾向得分匹配和生存分析方法,考察政府补贴对企业生存风险的影响效应发现:从政府补贴的倾向来看,政府部门给予了创新企业、国有企业更多补贴机会和更高补贴强度,给予了出口企业更多补贴机会、非出口企业更高补贴强度;从政府补贴的经济效果来看,政府补贴总体上降低了企业生存风险,但不同强度政府补贴对企业生存风险的影响存在显著差异,存在[7%,15%]的补贴强度“适度区间”;从企业异质性下政府补贴的经济效果来看,政府补贴行为并未显著降低高创新企业和高出口企业的生存风险,但显著促进了国有企业生存。同时,只有高强度的政府补贴才能促进创新企业、国有企业和非出口企业生存,而对非创新企业、非国有企业及出口企业的补贴强度则需要维持在“适度区间”内。
Macroeconomic policies are external conditions that affect the value creation of micro-firms,thus exploring the micro effect of government subsidies is especially critical for the government to optimize resource allocation.Based on the method of propensity score matching and event history analysis,this paper empirically tests the effect of government subsidies on the survival risk of firms.From the perspective of government subsidies tendency,this paper finds that the government provides more subsidy opportunities and higher subsidy intensity to innovative firm and state-owned firm,and export firm has more subsidy opportunities but non-export firm has higher subsidy intensity.From the perspective of economic performance of government subsidies,this paper finds that government subsidies significantly reduce the survival risk of firms.However,the effects of government subsidies on the survival risk of firms are heterogeneous among different drgrees of subsidies,and there is a“moderate interval”between 7%and 15%.From the perspective of the economic performance of government subsidies under firm heterogeneity,this paper finds that government subsidies play an insignificant role in reducing the survival risk of high-innovation firm and high-export firm,while it significantly promoted the survival of state-owned firm.At the same time,only high-intensity government subsidies can promote the survival of innovative firm,state-owned firm and non-export firm,while the subsidy intensity of non-innovative firm,non-state-owned firm and export firm needs to be maintained within the“moderate interval”.
作者
张慧
彭璧玉
杨永聪
ZHANG Hui;PENG Bi-yu;YANG Yong-cong
出处
《产经评论》
CSSCI
北大核心
2021年第3期114-131,共18页
Industrial Economic Review
基金
教育部人文社会科学研究青年基金项目“政府补贴影响企业生存的效应、机制及优化路径研究”(项目编号:19YJC790183,项目负责人:张慧)
广东省普通高校青年创新人才类项目“经济政策不确定性影响企业退出决策的效应、机制及优化路径研究”(项目编号:2018WQNCX031,项目负责人:张慧)
广东省软科学项目“新时代粤港澳大湾区科技服务协同创新的机制与路径研究”(项目编号:2019A101002055,项目负责人:张慧)
广东省自然科学基金项目“地区竞争视角下的绿色产业发展政策对企业投资行为影响研究”(项目编号:2020A1515010559,项目负责人:杨永聪)。
关键词
政府补贴
生存风险
倾向得分匹配
生存分析
补贴强度
government subsidies
survival risk
propensity score matching
survival analysis
subsidy intensity
作者简介
张慧,广东外语外贸大学粤港澳大湾区研究院讲师,研究方向为产业经济学;彭璧玉,华南师范大学经济与管理学院教授、博士生导师,研究方向为产业经济学;杨永聪,广东外语外贸大学粤港澳大湾区研究院副教授、硕士生导师,研究方向为产业经济学。
