![]() ![]() The fund use efficiency of private enterprises in terms of operating performance and social responsibility increases with increase in the scale of government subsidies. Dongmin and Tianshang studied the listed companies in Shanghai and Shenzhen, and found that government subsidies play a positive role in improving corporate economic performance and social responsibility. ![]() Scholars generally believe that government subsidies play a positive role in creating value for enterprises. However, government subsidy is one of the most commonly applicable ways for the industrial chain to apply the current policies, and the effectiveness of its implementation results varies from scholar to scholar. The subsidy provided by the government can not only alleviate the problem of insufficient R&D funds in enterprises, but can also serve as a signal to convey to investors the government's expectation of R&D and innovation activities of enterprises and affirmation of the future development of enterprises, which will help enterprises attract more investment and promote the sustainable development and value enhancement of enterprises. With the increasingly fierce market competition, independent innovation has become the only means for enterprises to survive and progress, and enterprises pay more and more attention to product R&D investment.
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