政府?dāng)?shù)字化補(bǔ)貼與“專(zhuān)精特新”中小企業(yè)數(shù)字化轉(zhuǎn)型

——兼論管理層情緒和政治關(guān)聯(lián)的調(diào)節(jié)效應(yīng)

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關(guān)鍵詞：政府?dāng)?shù)字化補(bǔ)貼；“專(zhuān)精特新”中小企業(yè)；數(shù)字化轉(zhuǎn)型；管理層情緒；政治關(guān)聯(lián)中圖分類(lèi)號(hào)：F812.45；F276.3；F49 文獻(xiàn)標(biāo)識(shí)碼：A 文章編號(hào)：1007-5097（2025）07-0061-13

GovernmentDigitalSubsidiesandtheDigital Transformationof SpecializedandInnovativeSMEs： TheModerating EffectsofManagerial Sentiment and Political Connections

LIU Minghui1，HE Xueting1， JI Yunyang2 （1.Schoolof PublicFinanceand Taxation，Dongbei UniversityofFinanceand Economics，Dalian16O25，China; 2.SchoolofEconomicsand Trade，HunanUniversity，Changsha41Oo82，China）

Abstract：Basedondata from listed specializedand innovative Smalland Medium-sized Enterprises （SMEs）from2013 to 2023，this essay empirically examines the impactof government digital subsidies on theirdigital transformation.The findingsreveal thatgovernmentdigital subsidiessignificantlypromotethedigital transformationof such SMEs，with strongereffctsobserved intechnology-intensiveindustries，highlycompetitivesectors，andfirms withhigherinstitutional ownership.Theprimary mechanisms include allviating financial constraintsandenhancing the levelof digital human capital.Positivemanagerial sentiment strengthens theefectivenessof governmentdigital subsidies，whereaspolitical connections weaken thepolicy impact.Furthermore，government digital subsidiescansynergizewith government procurement tojointlyfacilitatedigitaltransformationandsignificantlyboostfirms‘digitalinnovation.The findings provide empirical evidence and policyinsights for optimizing the design of government digital subsidy policies and advancing the digital transformation of specialized and innovative SMEs.

KeyWords：governmentdigitalsubsidies;specializedand innovativeSMEs;digital transformation;managerialsentiment; political connections

一、引言及文獻(xiàn)綜述

黨的二十大報(bào)告明確提出，要“支持專(zhuān)精特新企業(yè)發(fā)展”。（剩余18984字）