政府创新补贴与企业创新

——基于内部薪酬差距视角

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中图分类号：F812.45；F273.1 文献标识码：A 文章编号：1671-9247（2025）01-0014-08

Government Innovation Subsidies and Enterprise Innovation Based on Internal Pay Gap Perspective

CAOLei，GAOCuibin

（School ofAccounting，Anhui UniversityofFinanceandEconomics，Bengbu233o30，Anhui， China）

Abstract： Using thedataofA-share manufacturing companies listed in Shanghai and Shenzhen from 2010 to2O21，this paper empiricallyexamiestheelatioshpetwengovementiovationsubsidiesandenterprseiovation，ulti-imensiolleaminesthe moderatingeffectofinternalpaygapontherelationshipbetweengovernmentinnovationsubsidiesandenterpriseiovation，and furterexplores temediatingefectofancingcostraintsetweenthtwo.Thestudyshosthatgovemtovationsubsidiescanpromote firms’innovation enhancement，andtheaboverelationship is negativelymoderated bytheinteal pay gap;intems ofinnovatioinputs，fnancingconstraintsplayapartial mediatingroleintheimpactofinovationsubsidiesofims' inovation.Furterresearchalsofidsthat themoderatingroleofteintealpaygpisnotcostant，but willbeaffctedandconstrainedbyintealandextealenvionmentalfactorsoffissuchasthedegreeoffinancialzationandtelevelofmarketization.

Key words： government innovation subsidies;enterprise innovation; internal pay gap; financing constraints

一、引言

党的二十大报告提出，“坚持创新在我国现代化建设全局中的核心地位”。（剩余9109字）