文献类型：期刊文献

英文题名：Tripartite Evolutionary Game Analysis of Financial Support for Science-Tech Enterprises' Innovation with Government Participation

作者：Liu, Wei[1];Liu, Yang[2];Gu, Jun[1];Zhao, Jing[1];Zhang, Rong[1]

第一作者：刘微

通讯作者：Zhang, R[1]

机构：[1]Beijing Union Univ, Business Coll, Beijing 100025, Peoples R China;[2]Kunming Univ, Kunming 650214, Yunnan, Peoples R China

第一机构：北京联合大学商务学院

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：COMPUTATIONAL INTELLIGENCE AND NEUROSCIENCE

收录：;WOS:【SCI-EXPANDED(收录号:WOS:000810920700014)】；

基金：This study was financially funded by the project of Beijing Philosophy and Social Science Foundation of the year 2016 (16YJC045) "Research on the influence mechanism of Beijing Science and technology finance network collaboration on enterprise innovation performance.

语种：英文

外文关键词：Economics

摘要：In this study, we use a tripartite evolutionary game model to analyze the financial support for science-tech enterprises' innovation with government participation. Based on the game model, the study uses replication dynamics to analyze the stability of evolutionary trajectory in the eight scenarios of enterprises, the government, and the financial institutes. Then, we discuss the effect of the reputation multiplier, the efficiency of firms' innovation output, and the positive socio-economic externalities multiplier by simulation as the important innovative points in this study. The study draws the following conclusions: (1) enterprises will choose high R&D intensity instead of low R&D intensity if the output of former exceeds that of the latter, (2) enterprises' R&D output is closely related to the strategy choices of the government and financial institutes, and (3) enterprises can attract government subsidy by boosting economic and social externalities. The government subsidies to enterprises with high R&D intensity will improve the innovation output by the innovation investment and reputation multiplier. So, the government can implement subsidy policy to boost high-intensive R&D activity. Financial institutes' strategy choice between equity investment and debt investment is influenced by investment yield difference and can influence enterprises' R&D intensity choices.