关于企业公司创新影响有关的外文文献翻译：政府补贴对制造业创新的有效性：来自中国新能源汽车产业的证据.pdf

sustainability Article The Effectiveness of Government Subsidies on Manufacturing Innovation: Evidence from the New Energy Vehicle Industry in China Cailou Jiang 1,2, Ying Zhang 1, Maoliang Bu 2 ID and Weishu Liu 3, * ID 1 Business School, Nanjing University of Information Science &Technology, Nanjing 210044, China; zgjcL@163.com (C.J.);163.com (Y.Z.) 2 Business School, Nanjing University, Nanjing 210023, China; BML@ 3 School of Information Management and Engineering, Zhejiang University of Finance and Economics, Hangzhou 310018, China * Correspondence: weishuliu@ Received: 27 April 2018; Accepted: 20 May 2018; Published: 23 May 2018 Abstract: Manufacturing innovation is of strategic importance to China in its effort to reshape future technology. This study explores the impact of government subsidies on the research and development (R&D) intensity of China’s new energy vehicle (NEV) enterprises. The dynamic relationship between government subsidies and R&D intensity is tested with a panel regression model and a threshold regression model. We find that government subsidies have a significantly positive impact on R&D intensity when considering the sample group as a whole, but market profit does not contribute to R&D intensity. As for the sub-sample, government subsidies have a significantly positive impact on R&D intensity in assembly enterprises but are insignificant in supporting enterprises. Two threshold values are also identified with the logarithm of government subsidy. We find that government subsidies have a significant crowding in effect on the R&D intensity of NEV enterprises. With the increasing of government subsidy, the crowding in effect weakens gradually. The policy implication is that the structu