China is in an important historical period of economic development mode, which is driven by the pattern of the elements and to the innovation driven model. The government science and technology innovation fund has become the main driving force for innovation and development of enterprises and the transformation of economic development mode. Based on this background, it used the matching model to analyze the impact of the Chinese government innovation fund on new product innovation and the effects lagging and sustainability. Based on PSM-DID model, it finds the government science and technology innovation fund has the positive promotion effect on the enterprises' new product innovation ability with lag and continuity. In the subsample test, the promotion effect of the innovation fund is closely related to the forms of the sponsored enterprise's ownership, the way of financing and the protection of intellectual property. These empirical results imply that the role of government innovation fund in China is closely related to the object of the fund, the way of the fund and the external environment, which provides meaningful references for the adjustments of China's future innovation fund policy.%中国正处于经济发展模式由要素驱动向创新驱动转变的重要历史时期,政府的科技创新资助已成为激励企业创新研发、加快经济发展方式转型的主要推手.本文以此为背景,借助匹配模型就中国政府创新资助对企业新产品创新的总体影响效果、影响的滞后性、持续性等问题进行了实证研究.基于PSM-DID模型的检验发现:政府科技创新资助对企业新产品创新能力的提升具有积极的促进作用,但这种促进作用具有一定的滞后性和持续性;在分样本检验中,创新资助的促进作用与被资助企业的所有制属性、资助方式以及知识产权保护力度密切相关.实证结果意味着,中国背景下政府创新资助作用发挥的好坏与资助对象、资助方式以及外部环境密切相关,为中国未来创新资助政策的调整提供了有意义的参考.
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