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Comparison on the Impact of Two Types of R&D Funds on Innovative Outputs in the Industry-University System

Youli Huang, Qian Wang, and Zhiying Liu
School of Management, University of Science and Technology of China, Hefei, Anhui, China
Abstract—Although the Government R&D Funds and Enterprise R&D Funds are crucial for the development of the industry, few studies has been done to analysis the impact of the two types of R&D funds on innovative outputs, based on the industry-university system. Using the developing Cobb-Douglas knowledge production function and the panel data on 30 provinces (Tibet is excluded for missing data) during 1996-2010 in China, this paper examines the output elasticity of the two types R&D funds in the industry-university system. We find, first, in industrial system, enterprise R&D output elasticity is greater than government R&D output elasticity, but in university system, the contribution of government investment is better than enterprise investment. Second, both of the funds have a high impact on the patent, and have a relatively low effect on the sales revenue of new products in industrial system and the number of papers in the university system. Third, government funds have a deeper influence on the innovation of university system than industrial system, enterprise funds have a greater effect on the innovation of industrial system than university system.

Index Terms—industry-university system, government R&D funds, enterprise R&D funds, innovative outputs

Cite: Youli Huang, Qian Wang, and Zhiying Liu, "Comparison on the Impact of Two Types of R&D Funds on Innovative Outputs in the Industry-University System," Journal of Advanced Management Science, Vol. 2, No. 2, pp. 96-101, June 2014. doi: 10.12720/joams.2.2.96-101
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