工业技术经济2025，Vol.44Issue(12)：40-48,9.DOI:10.3969/j.issn.1004-910X.2025.12.004
政府补贴对企业新质生产力提升的效应研究
Research on the Effect of Government Subsidies on the Enhancement of New Quality Productivity of Enterprises
摘要
Abstract
Government subsidies are an important means to support and guide the development of enterprises.Under the cur⁃rent backdrop of vigorously promoting high-quality development,whether government subsidies can achieve the expected effect and help enterprises enhance their new quality and productivity has become a focus of concern for both the academic community and go⁃vernment departments.This paper empirically examines the impact of government subsidies on the new quality productivity of enter⁃prises by using the data of A-share listed companies from 2015 to 2024,and further examines the influence of enterprise strategic choices on the relationship between the two.The research findings show that:(1)There exists an inverted U-shaped nonlinear re⁃lationship between government subsidies and the new quality productivity of enterprises.This conclusion still holds true after a series of robustness tests.(2)Different strategic choices made by enterprises will also affect the effectiveness of government subsidies.A⁃dopting differentiated strategies and cost leadership strategies will both mitigate the negative impacts brought about by excessive sub⁃sidies.Further analysis shows that moderate government subsidies and enterprise financialization can achieve internal and external synergy,jointly promoting the improvement of new quality productivity of enterprises.Conversely,it will accelerate the deteriora⁃tion of the subsidy effect.The research conclusion of this paper has reference significance for how to enhance the expected effect of government subsidies and promote the improvement of new quality productivity of enterprises.关键词
政府补贴/企业新质生产力/企业战略/非线性影响/差异化战略/成本领先战略/企业金融化/上市公司Key words
government subsidy/enterprises new quality productivity/enterprise strategy/nonlinear influence/differentia⁃ted strategies/cost leadership strategies/enterprise financialization/listed companies分类
管理科学引用本文复制引用
孙鹏,刘湘粤,韩松宸..政府补贴对企业新质生产力提升的效应研究[J].工业技术经济,2025,44(12):40-48,9.基金项目
国家自然科学基金项目"生态约束与外资驱动下全要素能源效率提升研究:基于能源-经济-环境系统的分析框架"(项目编号:72164008) （项目编号:72164008）
国家自然科学基金项目"制度型开放驱动现代化产业体系'三化'升级:双维机制解构与多源实证检验"(项目编号:72563009). （项目编号:72563009）
