摘要
本文以软件和信息技术服务行业上市公司2015~2018年的财务数据为样本,为了排除企业粉饰真实业绩和财务状况的影响,通过因子分析方法透过财务报表的常规披露对企业绩效作出更趋于本质化的评价(即盈利质量),然后通过回归分析探究政府补助、研发投入与盈利质量的关系。研究发现:政府补助、研发投入、盈利质量之间两两正相关,并且研发投入对政府补助和盈利质量之间的关系产生中介效应。研究认为,应坚定通过政府补助支持高新技术产业发展,陆续完善资本市场的各项法律法规,构建更加公平的政府补助机制既有利于激发这类企业的创造性,也有利于改善盈利质量,提高其真实绩效。
This paper selects the financial data of the listed companies in the software and information technology service industry from 2015 to 2018 as a sample.In order to eliminate the impact of the actual performance and financial status of the company's whitewashing,the factor analysis method is used to make the company's performance more inclined through the regular disclosure of financial statements.The evaluation of the essence(i.e,the quality of profit),and then through regression analysis to explore the relationship between government subsidies,R&D investment and profit quality.The study finds that government subsidies,R&D investment,and profit quality are positively correlated,and R&D investment has a mediating effect on the relationship between government subsidies and profit quality.Therefore,the study believes that it is necessary to firmly support the deve-lopment of high-tech industries through government subsidies,improve the laws and regulations of the capital market one after another,and build a more fair government subsidy mechanism,which is conducive to stimulating the creativity of such enterprises,improving the quality of earnings and their true performance.
作者
陈涛
赵婧君
Chen Tao;Zhao Jingjun(Business School,Southwest University of Political Science and Law,Chongqing 401120,China)
出处
《工业技术经济》
CSSCI
北大核心
2020年第5期91-99,共9页
Journal of Industrial Technological Economics
基金
国家社会科学基金项目“‘互联网+’农产品订单质押融资模式创新及风险防范研究”(项目编号:16BGL002)。
关键词
软件和信息技术产业
因子分析
政府补助
研发投入
盈利质量
中介效应
software and information technology industry
factor analysis
government subsidies
R&D investment
profit quality
mediating effect
