How the Government's“Picking Winners”Strategy Influences the Innovative Behavior of Firms:An Assessment of the Effectiveness of Preferential Policies for Small and Medium-Sized Technology-Based Enterprises
Zhu Ruoyan, Liu Yangge
School of Government,Peking University,Beijing 100871,China
Abstract：The government's“picking winners”strategy is considered a crucial type of industrial policy and a successful experience for“developmental states”.This study examines how the Chinese government's policies of“picking winners”influence the innovative behavior of firms.Using data from the listed firms on the“New Third Board”from 2018 to 2019,we employ propensity score matching to assess the effects of preferential policies on small and medium-sized technology-based firms.We find that,while the policies encourage firms to invest more in R&D and apply for more patents,firms are motivated to respond with“strategic innovation”rather than“substantive innovation”to obtain the benefits provided by the policies.Furthermore,policy effects vary among firms with different ownership structures,in different regions,and across industries.It is suggested that to effectively incentivize substantive innovation through the government's“picking winners”strategy,a more rational policy design coupled with robust governmental capabilities is necessary.
祝若琰, 刘洋戈. 政府“挑选赢家”如何影响企业的创新行为:对科技型中小企业评价入库优惠政策的效果评估[J]. 中国科技论坛, 2024(7): 21-30.
Zhu Ruoyan, Liu Yangge. How the Government's“Picking Winners”Strategy Influences the Innovative Behavior of Firms:An Assessment of the Effectiveness of Preferential Policies for Small and Medium-Sized Technology-Based Enterprises. , 2024(7): 21-30.
2024, 
