Resumen de Research on the relationship between government subsidies, R&D investment and high-quality development of manufacturing industry
Yu Guan
Taking the mixed cross-sectional data of large and medium-sized industrial enterprises in Shanghai from 2014 to 2021as the research sample, this paper empirically analyses the impact of government subsidies and R&D investment on thehigh-quality development of the manufacturing industry. First, the quantile regression model is established to analyse therelationship among the three factors, and the asymmetric linear loss function is introduced to obtain the point estimationof quantile. According to the Moivre–Laplace limit theorem, the asymptotic distribution is obtained; the sample quantilefunction is calculated and the fitting residual of quantile regression is used to estimate the asymptotic covariance matrix.The model was tested by goodness-of-fit criterion; it can more comprehensively describe the characteristics of distribution,so as to get a comprehensive conclusion. The experimental results show that: with increase of the quantile, the advantagegradually increases. Medium-sized enterprises have a less significant ‘inverted U’ relationship at 0.8, while large enter-prises have a more significant ‘U’ relationship at 0.2–0.5. It can effectively reduce the estimation deviation and reduce theroot mean squared error, so as to improve the estimation accuracy.
