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| Research on the Impact of Firms’ “More Words and Less Action” Innovation Strategy on Innovation Subsidies |
| ZHU Sailin，LIU Chunlin |
| Nanjing University, Nanjing, China |
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Abstract Based on the Regulations on the Administration of Post-Subsidy for National Science and Technology Plans and Special Funds issued in 2013, the study explores whether there is any stage difference in the impact of firms’ “more words and less action” innovation strategy on innovation subsidies. It is found that in the pre-innovation subsidy stage, firms characterized by “more words and less action” obtain more innovation subsidies, while in the post-innovation subsidy stage, such firms obtain less innovation subsidies. Heterogeneity analysis reveals that the increase of marketization and negative media reports can inhibit the access to innovation subsidies by firms with “more words and less action”, but this effect is observed only in the post-innovation subsidy stage. Meanwhile, there is also a difference in the resource utilization patterns of firms with “more words and less action”. In the pre-innovation subsidy stage, these firms are more strategic in innovating after obtaining innovation subsidies than other firms, but in the post-innovation subsidy stage, there is no significant difference in resource utilization patterns within these firms compared to others.
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Received: 19 September 2023
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