CAJ | 학술논문

从控股股东性质、公司规模和政治关系等角度，实证检验了IT行业中政府补助对研发投入和上市公司业绩的影响机制。研究发现政府补助与当期研发投入显著负相关，规模越大，这一特征越明显；政府补助改善了公司业绩，但对当期业绩促进效果不显著，其业绩改善效果具有滞后性特征，具有政治关系的上市公司中政府补助的作用效果更明显。研究意义在于指出了政府补助对研发投入和公司业绩的作用效果，为决策部门制定补助政策提供了理论依据。
종공고고동성질、공사규모화정치관계등각도，실증검험료IT행업중정부보조대연발투입화상시공사업적적영향궤제。연구발현정부보조여당기연발투입현저부상관，규모월대，저일특정월명현；정부보조개선료공사업적，단대당기업적촉진효과불현저，기업적개선효과구유체후성특정，구유정치관계적상시공사중정부보조적작용효과경명현。연구의의재우지출료정부보조대연발투입화공사업적적작용효과，위결책부문제정보조정책제공료이론의거。
Government subsidy ’ s impact on R&D and performance are studied in this paper combined with three factors.They are controlling holder ’ s character , size of the company and political relations.The results shows that subsidies are significant negatively correlated with R&D investment especially in large companies .Subsidies are significant positively correlated with lagged performance especially in political related companies.The meaning of this paper is to find subsidy ’ s impact and provide theoretical support for public policy -makers.