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What Determines the Subsidy Decision Bias of Local Governments? An Enterprise Heterogeneity Perspective

机译:是什么决定了地方政府的补贴决定偏见? 企业异质性视角

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This paper evaluates whether enterprise heterogeneity affects the subsidy behavior of local governments for Chinese listed companies over the period 2007-2017. After using the logit and the Tobit regression analyses, the result reveals that enterprise heterogeneity significantly influences the fiscal subsidy selection strategy and policy bias. Local governments are more likely to subsidize high-tech enterprises, state-owned enterprises, and exporting enterprises. The profitability of an enterprise is negatively related subsidies, which confirms the helping-hand role played by local governments. The robustness of our findings is explored in a variety of extensions including quantile regression and investigation of regional heterogeneities.
机译:本文评估了企业异质性是否影响了2007 - 2017年中国上市公司地方政府的补贴行为。 使用Logit和Tobit回归分析后,结果表明,企业异质性显着影响财政补贴选择策略和政策偏差。 地方政府更有可能补贴高科技企业,国有企业和出口企业。 企业的盈利能力是否定相关的补贴,这证实了地方政府扮演的帮助手工。 我们的研究结果的稳健性在包括分位数回归和区域异质性调查的各种延伸中探讨。

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