政府补助、技术创新与可持续增长.docVIP

政府补助、技术创新与可持续增长 陈险峰 王玥 张长海 海南大学经济与管理学院 X 关注成功！ 加关注后您将方便地在 我的关注中得到本文献的被引频次变化的通知！ 新浪微博 腾讯微博 人人网 开心网 豆瓣网 网易微博 摘????要： 基于希金斯的可持续增长理论, 在实证分析上市公司技术创新与可持续增长关系的基础上, 重点分析和检验了政府补助对二者关系的影响。以2010—2015年期间沪深A股上市公司为数据样本, 采用多元回归分析方法, 结果发现: (1) 技术创新与公司可持续增长正相关, 即公司的技术创新能力越强越有利于实现可持续增长; (2) 政府补助对技术创新与公司可持续增长之间的正相关关系具有显著抑制效应, 而且这种效应主要集中在非国有上市公司。上述发现不仅在理论上为可持续增长的研究提供了新的研究视角, 同时也为监管部门和公司管理者的决策提供重要的经验证据。 关键词： 可持续增长; 技术创新; 政府补助; 作者简介：陈险峰 (1967-) , 男, 湖南益阳人, 海南大学经济与管理学院教授, 主要从事企业会计和财务管理研究。 收稿日期：2017-08-02 基金：国家自然科学基金项目 Government Subsidies, Technical Innovation and Sustainable Growth CHEN Xian-feng WANG Yue ZHANG Chang-hai College of Economics and Management, Hainan University; Abstract： According to Higginss sustainable growth theory, this paper, while carrying out an empirical analysis of the relationship between technical innovation of the firms and sustainable growth, particularly explicates and tests how the government subsidies affect their relationship.With a sample of the data of A-share listed companies on the Shanghai and Shenzhen stock exchanges from 2010 to 2015, the study adopts the multiple regression analysis method and finds that a positive correlation exists between technical innovation and sustainable growth of the enterprises, which means that the stronger the ability of technical innovation for an enterprise is, the more advantageous it is for that enterprise to achieve sustainable growth.In addition, an apparently inhibitory effect of government subsidies is also found on the positive correlation between technical innovation and sustainable growth, which is especially strong for non-state enterprises.These findings provide not only the new perspectives for the study of sustainable growth in theory, but some significant empirical evidence for the regulatory authorities and business managers to make policies. Keyword： sustainable growth; technical innovation; government subsidy; Received： 2017-08-02 作为经济学的基础, 现代经济增长理论在整个经济思想史上有着举足轻重的地位。发展至今,