Government Subsidies Affect the Competitiveness of Game Listed Companies

The game industry, as an important carrier of the digital economy and the dissemination of traditional culture, has attracted much policy attention in its development. Based on the existing literature and research, we find that government subsidies and game enterprises' R&D investment are important factors affecting the sustainable development and competitiveness of game enterprises. In order to better study how to enhance the competitiveness of game enterprises themselves to form a benign competition and propel the game industry's explosive growth, this paper takes 31 listed game companies as samples to conduct relevant empirical tests and bootstrap tests. Research shows that: (1) Government subsidies significantly enhance the competitiveness of enterprises. (2) R&D investment plays a partial mediating role between the two (with an mediating effect proportion of 19.86%), indicating that subsidies indirectly enhance competitiveness by stimulating R&D, but they are not the dominant path. Based on this, we have put forward some policy suggestions, such as continuing and strengthening the subsidy policy, optimizing the subsidy management mechanism and establishing a dynamic management model of "performance tracking + R&D subsidies", as well as differentiating the positioning of subsidy recipients.