【题  目】R&D project subsidy V.S. government innovation reward: The effectiveness on corporate innovation

【时  间】2025年4月30日（星期三），14:00-15:30

【地  点】后主楼1722会议室

【主讲人】董小琦 助理教授（中国人民大学应用经济学院）

【主持人】王  言 助理教授（足球一世666814）

摘要：

This paper compares the effectiveness of R&D project subsidies and government innovation rewards. Using a dataset of China's listed companies from 2008 to 2019, we investigate the associations of these two innovation grants with corporate innovation. The results indicate that both R&D project subsidy and government innovation reward can increase corporate innovation output. However, only government innovation reward can encourage private R&D investment. In addition, R&D project subsidy serves as an incentive role through the governance and financing mechanisms, whereas the government innovation reward has only a governance mechanism. Furthermore, the R&D project subsidy has a relatively poor impact on large firms and state-owned enterprises (SOEs), whereas the government innovation reward can still motivate their innovation. This study contributes to the expanding body of literature by providing diverse evidence of innovation grants from the perspective of the government subsidizing stage.

董小琦，中国人民大学应用经济学院讲师，研究领域为数字经济、企业创新、机器学习。