This paper takes a sample of China's GEM listed companies from 2015 to 2017 to study the relationship between government subsidies and enterprise innovation performance. Furthermore, we examine the effect of government subsidies on enterprise innovation performance from the perspectives of regions, ownership, and industry. The results show that there is a positive correlation between government subsidies and enterprise innovation performance, and this promotion is more pronounced in developed regions, strategic emerging industries and non-state-owned enterprises. This study has important value for understanding government subsidies in promoting independent innovation and solving financing constraints of enterprises.
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