Based on R&D activity panel data of 60 technology-based SME which is listed on the NEEQ board in Hebei province between 2014 and 2016,using stochastic frontier analysis method to build SFA model in the form of Trans-log production function,the paper estimates the impact of government R&D funding on the technological innovation efficiency of technology-based SME.The study finds that:the government R&D funding has a slightly negative effect on enterprise technology knowledge output;its positive incentive for innovative products market output is limited,and the government R&D funding exerts a crowding-out effect on the enterprise R&D investment;enterprise R&D investment has significantly positive incentives to promote the efficiency of enterprise technology innovation,and it is more likely to promote technology innovation efficiency of technology-based SME than R&D personnel investment.%基于河北省新三板挂牌的60家科技型中小企业2014-2016年研发活动的面板数据,利用随机前沿分析方法构建超越对数生产函数形式的SFA模型,实证测度政府R&D经费投入对科技型中小企业技术创新效率的影响程度.研究发现,政府R&D经费投入对企业技术知识产出具有轻微的负向作用,对创新产品市场化产出的正向激励作用有限,政府R&D经费投入对企业R&D资金投入存在挤出效应;企业R&D资金投入对企业技术创新效率的提升具有显著的正向激励作用,企业R&D资金投入要比R&D人员投入更有利于科技型中小企业技术创新效率的提升.
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