Government R&D Subsidies, Innovative Talents Advantages and #br#
Enterprises’Independent R&D Investment—Based on Mechanism Analysis of Moderated Mediation Model

doi:10.19722/j.cnki.1008-7729.2022.0008

Journal of Beijing University of Posts and Telecommunications(Social Sciences Edition) ›› 2022, Vol. 24 ›› Issue (3): 106-120.doi: 10.19722/j.cnki.1008-7729.2022.0008

Finance and Economics College,Jimei University, Fujian Xiamen 361021,China

Online:2022-07-01 Published:2022-07-20

Abstract

Abstract: Employing panel data of China’s listed companies from 2008 to 2019 and based on the moderated mediation model,the specific mechanism of government R&D subsidies on enterprises’ independent R&D investment is empirically analyzed under the path of innovative talents. The results show that innovative talents advantages have a mediating effect that alleviates the crowding-out effect of government R&D subsidies on enterprises’ independent R&D investment in the current period. Meanwhile, government R&D subsidies have a positive moderate effect that strengthens the role of innovative talents advantages in promoting enterprises’ independent R&D investment. Further results show that the positive moderate effect of government R&D subsidies is more obvious in enterprises with inapparent advantages in innovative talents and non-state-owned enterprises. Besides, government R&D subsidies and innovative talents advantages have a more obvious promoting effect on the enterprises’ independent R&D investment in industries with high R&D intensity.

Key words: government R&D subsidies, innovative talents advantages, enterprises’ independent R&D investment, moderated mediation model

CLC Number:

F273.1

CHEN Min, MA Junting. Government R&D Subsidies, Innovative Talents Advantages and #br# Enterprises’Independent R&D Investment—Based on Mechanism Analysis of Moderated Mediation Model[J]. Journal of Beijing University of Posts and Telecommunications(Social Sciences Edition), 2022, 24(3): 106-120.

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Government R&D Subsidies, Innovative Talents Advantages and #br# Enterprises’Independent R&D Investment—Based on Mechanism Analysis of Moderated Mediation Model

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