Research on the Influence of Government Subsidy on New Quality Productive Forces of Grain Enterprises - Empirical Evidence from Listed Companies in China.

As the most direct way to guide and support the transformation and upgrading of grain enterprises, government subsidies have an important orientation for the transformation and development of Chinese grain enterprises and the improvement of new quality productivity. Based on the data of 136 grain listed companies and NEEQ listed companies from 2015 to 2022, this paper empirically tests the impact of government subsidies on the new productivity of grain enterprises and its transmission mechanism. The research results show that government subsidies have significantly improved the new productivity of grain enterprises. The analysis of the mechanism of action finds that government subsidies have promoted the improvement of new productivity of enterprises by optimizing the structure of human capital and improving the absorptive capacity of enterprises. Further research shows that the higher the degree of product market competition, the lower the tax burden of enterprises, and the government subsidy exceeds the threshold value of 8.9685, the greater the effect of government subsidy on the improvement of new quality productivity of enterprises. The economic consequence test shows that government subsidies can promote the new productivity of grain enterprises and effectively improve the total factor productivity of enterprises. The research in this paper provides relevant enlightenment for the Chinese government to strengthen project planning, strengthen resource coordination, and implement scientific and accurate policies in the new round of fiscal and taxation system reform. [ABSTRACT FROM AUTHOR]