中文摘要：

将企业科技创新失败项目分为研发阶段失败和成果转化阶段失败两种,采用实物期权法建立政府资金直接补偿、政府税收优惠补偿两种方式下企业科技创新失败项目价值模型,通过分析不同补偿方式下的政府补偿效率,确定了不同阶段科技创新失败项目的最优政府补偿方式。结果发现,研发阶段科技创新失败项目应优先选择政府资金直接补偿,成果转化阶段科技创新失败项目应优先选择税收优惠补偿。

英文摘要：

Science and technology innovation failed projects can be divided into project failure at R＆D stage and at transformation stage of scientific and technological achievement. Establish the value mode of science and technology innovation failed projects with the compensation ways including government funds direct compensation and tax breaks by using real options method. Make sure the optimal government compensation mode of science and technology innovation failed projects under the different stages by analyzing compensation efficiency of different ways. The result is found that project failure at R＆D stage should be given preference to government funds direct compensation, and project failure at transformation stage of scientific and technological achievement should be chosen tax breaks.