Based on the data of A-share listed companies from 2009 to 2014, this paper discusses the effect of government subsidies on corporation innovation investment under different ownerships by comparing the two groups of state- owned enterprises and non-state-owned enterprises. And we join two factors of the anti-corruption and the process of marketization to further analyze the effect of government subsidies on the adjustment of corporate innovation investment under the environment of the anti-corruption.
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