Research on the Impact of Government Talent Policy Subsidies on Enterprise Total Factor Productivity

Abstract

 This study aims to explore the impact of government talent policy funding on enterprise total factor productivity and further analyze the differences in this impact under various conditions. In the empirical section, panel data is used, with listed companies as the research sample, to examine the mechanisms of talent agglomeration, knowledge spillover, and innovation upgrading. After analysis, it is found that government talent policy funding is conducive to improving enterprise total factor productivity, and the impact mechanism aligns with expectations. Large-scale enterprises and those in highly competitive market environments benefit more from policy funding, with this positive effect being particularly significant in non-state-owned enterprises. The research results emphasize that government talent policy funding is an effective tool for promoting enterprise productivity enhancement, exhibiting differentiated effects across various enterprise types and market conditions. This provides empirical evidence for the government to optimize talent policies and offers strategic suggestions for enterprise managers to more effectively utilize policies and resources to enhance enterprise competitiveness.