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农业是支撑我国国计民生的基础,在经济发展新常态下,政府进一步加强了惠农政策,提高了对涉农企业的政府补助,但政府补助真的促进了涉农企业可持续发展吗?本文以涉农企业可持续发展能力为视角,通过收集2008—2015年沪深A股主板涉农上市公司数据,实证检验了涉农企业行业中政府补助对上市公司企业可持续能力的影响。研究发现,当期政府补助对企业的可持续能力影响效果并不显著,但是滞后一期政府补助与企业可持续能力呈负相关,说明政府补助对企业可持续能力并无显著影响,长远来看甚至会对企业的可持续能力不利,所以我们应当理性地看待政府补助对涉农企业的影响。
Under the new normal economic development, the government further strengthened the policy of benefiting farmers and raised the government subsidies to the agriculture-related enterprises. However, did the government subsidies really promote the sustainable development of agriculture-related enterprises? In this paper, From the perspective of sustainable development of agriculture-related enterprises, by collecting the data of listed agriculture-related companies of Shanghai and Shenzhen A-shares in 2008-2015, this paper empirically tests the influence of government subsidies on the sustainability of listed companies in agriculture-related industries. The study found that the effect of current government subsidies on the sustainability of enterprises is not significant, but the one-off government subsidies and enterprise sustainability are negatively correlated, indicating that government subsidies have no significant impact on the sustainability of enterprises. In the long run, It will adversely affect the sustainability of enterprises. Therefore, we should rationally consider the impact of government subsidies on agribusiness.