Property Rights, Support Strength and Political Relations Effect on Government R&D Subsidies

Government R&D subsidies' effect on R&D investment have attracted great attention of scholars at home and abroad. This paper verified government R&D subsidies' effect on enterprises R&D investment from the evidence from science and technology small and medium-sized enterprise, Further, we respectively measure moderated effect of enterprise property rights, support strength and political relations on the relations between government R&D subsidies and R&D investment. We found that government R&D subsidies significantly stimulate positive influence on enterprises R&D investment; when support strength is smaller, government R&D subsidies more greatly promote enterprise's R&D investment; compared with private technological SMEs, non-private technological SMEs can greatly stimulate government subsidies promotion effect; when the enterprise without political relations, government subsidies on R&D investment promotion effect is more obvious.