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《Forum on Science and Technology in China》 2018-10
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Can Government R&D Subsidies Save Zombie Firms? An Empirical Study Based on Small and Medium-Sized Enterprises in Shanghai

Luan Qiang;Luo Shougui;Xiong Qi;Luo Jin;Antai College of Economics and Management,Shanghai Jiaotong University;  
In this paper,data of SMEs in Shanghai are used to study whether the government RD subsidies can save the zombie firms,and the results show that:From the industry point of view,industries with labor-intensive characteristics and some knowledge-intensive industries accounts for a higher proportion of zombies,and industries which meet the basic living needs of residents account for a lower proportion of zombie firms;In the short run,government RD subsidies can effectively prevent healthy firms from becoming zombie firms,but it will promote the zombie firms in the short and long run to be much more serious.Therefore,the government RD subsidy policy should treat zombie firms as an important reference indicator,and the actual operation should identify and remove zombie firms as much as possible to achieve more effective allocation of public resources.
【Fund】: 国家社科基金重大项目“基于产业链技术链与价值链融合的文化科技创新研究”(12&ZD026);; 上海市软科学基金课题“基于知识竞争力评价的‘具有全球影响力的科技创新中心’建设研究”(15692180400)
【CateGory Index】: F273.1;F276.3
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