文献类型：期刊文献

英文题名：Modelling the Impacts of Government Subsidies on Total Factor Productivity: An Empirical Study

作者：Wu, Huixiang[1];Chen, Zhi[1];Chen, Hua[2];Jiang, Jingjing[2]

第一作者：Wu, Huixiang

通讯作者：Chen, H[1]

机构：[1]Shandong Technol & Business Univ, Sch Accounting, Yantai 264005, Peoples R China;[2]Beijing Union Univ, Business Coll, Beijing 100025, Peoples R China

第一机构：Shandong Technol & Business Univ, Sch Accounting, Yantai 264005, Peoples R China

通讯机构：[1]corresponding author), Beijing Union Univ, Business Coll, Beijing 100025, Peoples R China.|[1141721]北京联合大学商务学院;[11417]北京联合大学;

年份：2022

卷号：2022

外文期刊名：DISCRETE DYNAMICS IN NATURE AND SOCIETY

收录：;Scopus(收录号：2-s2.0-85126345346);WOS:【SSCI(收录号:WOS:000774361000004)，SCI-EXPANDED(收录号:WOS:000774361000004)】；

基金：AcknowledgmentsThe study was supported by MOE (Ministry of Education of China) Project of Humanities and Social Sciences, Grant/Award, Title: The Impact Mechanism and Performance Evaluation of Tax Incentives on Enterprise Innovation from the Perspective of Financing Constraints (no. 16YJC630137), and by the Academic Research Projects of Beijing Union University (no. SK30202108).

语种：英文

摘要：Marine industry continues to grow rapidly in China, while the contribution of the total factor productivity (TFP) to its gross output still remains very limited. Facing this issue, it is urgent to promote TFP by innovation, and Chinese government provides persistent subsidies to stimulate the innovation of relative enterprises. Taking listed companies of marine industry in Shanghai and Shenzhen Stock Markets (2007-2019) as samples, this study performed empirical tests by multiple regressions to check the effects of such subsidies on the TFP of Chinese marine industry. It was observed that, as a whole, government subsidies present positive effects on the TFP of associated companies, and subsidies beforehand yield higher promotion than subsidies afterwards. The subsidies work mainly via easing financing constraints and encouraging R&D investment of relative firms. Our results are highlighted by revealing the differential effects of government subsidies on the TFP of Chinese marine industry and their functional mechanism. It implies that, besides government subsidies, the optimization of financial market may also be helpful in promoting TFP by innovation.