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政府干预直接体现了国家对自主创新的规划和引导,传递了政府政策倾向的信号。该信号有助于吸引外部投资的增加,激发全社会的创新能量,促进企业的自主创新。因此,基于信号传递的视角,通过面板数据的Tobit模型研究政府干预、外部投资对企业自主创新绩效的作用机理的结果显示:政府的干预,无论是财政补贴还是税收优惠都对企业的创新绩效影响不显著,这与目前政策对我国战略性新兴产业的引导实践相矛盾,政府需要对相关政策的有效性进行科学评价并适时调整,以适应企业和市场需要。外部投资对企业创新绩效具显著负相关关系,从侧面说明我国目前金融市场与实体经济相脱节,需要加速金融体制改革,构建健康的资本循环体系。
Government intervention directly reflects the state’s planning and guidance of independent innovation and transmits the signal of the tendency of government policies. The signal helps to attract more external investment, stimulate innovation in society as a whole, and promote independent innovation in enterprises. Therefore, based on the perspective of signal transmission, the Tobit model of panel data is used to study government intervention and the mechanism of external investment on the independent innovation performance of enterprises shows that government intervention, both financial subsidies and tax incentives, have an impact on the innovation performance of enterprises This is not contradictory with the current policy guiding the practice of our country’s strategic emerging industries. The government needs to make scientific assessments of the effectiveness of relevant policies and make timely adjustments so as to meet the needs of enterprises and markets. The external investment has a significant negative correlation with the innovation performance of the enterprise. From the aspect, it shows that the current financial market in our country is out of touch with the real economy. It is necessary to speed up the reform of the financial system and establish a healthy capital recycling system.