There has been a controversy that whether government R&D expenditure can promote R&D innovation and how to play the role of government more effectively in the process of innovation. Based on theoretical analysis, the paper puts forward the effectiveness of government R&D funding in promoting enterprise innovation and the heterogeneity of incentive effect. Based on the data of industrial enterprises' scientific and technological activities this paper examines the effect of the Chinese government R&D funding on the R&D innovation activities of the enterprises. On the whole, the government R&D funding will promote the enterprise's own R&D expenditure, and it will also improve the level of output of the patent and the new product. There are heterogeneities of enterprises in the incentive effect of government funding, the greater the enterprise scale, the higher human capital level and the higher labor efficiency, the greater the effect of the government R&D funding, and the R&D output of the nonstateowned enterprises is higher than that of the stateowned enterprises. In addition, the output of scientific and technological activities is more dependent on the contribution of R&D personnel. When the government subsidize the R&D activities of enterprises, it should make targeted subsidies policy according to the specific micro characteristics of the enterprises.

关于政府研发资助能否促进企业研发创新活动以及在创新过程中如何更有效地发挥政府的作用，一直存在争议。本文基于理论分析，提出了政府研发资助促进企业创新的有效性以及激励效应存在异质性的假说，利用工业企业的创新活动数据检验了中国政府研发资助对企业研发创新活动的影响效应。总体来看，政府研发资助对企业自身研发投入存在激励作用，同时也会提升企业研发创新的专利和新产品的产出水平。政府资助的激励效应存在企业异质性，在企业规模越大、人力资本水平越高、劳动生产效率越高的企业中，政府资助的激励效应越大，并且对非国有企业的研发创新产出的促进效用要高于国有企业。另外，本文还发现科技活动的产出更多地依赖于研发人员的贡献。政府对企业研发创新进行资助时，应该根据企业具体的微观特征，制定针对性的资助方式，更有效地发挥政府资助的激励效应。