中文摘要：

战略性新兴产业的重大技术突破离不开政府资金的引导和推动，政府创新支持资金的具体投向以及投资方式的选择就显得尤为重要。本文将进入战略性新兴产业的企业按照来源分成传统转型企业和新生企业．分别考察两者不同的创新特点．采用Bootstrap组间差异检验方法研究了企业进入时机、企业规模对这两种类型企业的影响是否存在显著差异。研究结果表明：在同一时点进入战略性新兴产业的传统转型企业与新生企业相比具有较小的研发创新激励。通过区分企业不同的研发激励特点．政府才能更有效的对企业实行创新支持政策。通过理论和实证研究．本文认为对于需要在传统产业基础上通过技术融合形成的战略性新兴产业来说．为了弥补传统转型企业的研发不足．政府创新基金投向重点应是传统转型企业：而对于需要通过技术跨越形成与发展的战略性新兴产业来说。政府创新基金投向重点应是研发激励较大的新生企业。政府创新基金还需针对传统转型企业和新生企业的不同创新特点对其采用差别化的创新支持政策。

英文摘要：

The major technological breakthrough of the strategic emerging industries can＇t be separated from government innovation fund, therefore the investment direction and patterns of government innovation fund are particularly important. In order to analyze the R＆D incentive of enterprises, we divide the enterprises in the strategic emerging industries into traditional enterprises in transition and newborn enterprises. This paper undertakes an econometric analysis of the effects of enter timing and firm size on R＆D expenditure by using the data of the listed companies of 103 strategic emerging enterprises from 2006 though 2011. We use Bootstrap test to examine whether there are statistically significant differences between regression coefficients of traditional enterprises in transition and newborn enterprises. Studies have shown that the newborn enterprises have greater R＆D incentives to innovate compared to traditional enterprises in transition which entered the strategic emerging industries at the same time point. By distinguishing R＆D incentives between different enterprises, government can implement innovation support policy more effectively. Based on the conclusions above,we put forward some policy recommendations on the investment direction and patterns of government innovation fund in the strategic emerging industries.