Government Subsidies, RD Investment and Innovation Performance

摘要

Taking the listed companies in China in 2012-2016 as a sample, the relationship between government subsidies, R&D investment and corporate innovation performance is discussed in depth. The study found that government subsidies can significantly increase the number of innovation output, innovation complexity and quality of innovation output. R&D expenditure and R&D personnel investment play a part in mediating, indicating that government subsidies can effectively stimulate the innovation vitality of enterprises, increase the investment of enterprises' innovation, and ultimately affect the innovation performance of enterprises in China's capital market.