什么样的税收优惠能够激励高新技术企业创新——来自优惠强度与具体优惠政策的经验证据

Preferential Tax Policies Able to Inspire Innovation in High tech Enterprises: Empirical Evidence Based on Tax Incentive Intensity and Specific Preferential Policies

中文关键词:  税收优惠强度  加计扣除  优惠税率  创新质量  创新效果  高新技术企业

英文关键词:tax incentive intensity  additional tax deduction  preferential tax rate  innovation quality  innovation effect  high-tech enterprises

中文摘要:

      创新是驱动一国经济发展的核心与灵魂,税收优惠因具有良好的杠杆传导作用,是政府鼓励企业创新的常用政策工具,其对创新的激励效果一直备受学术界关注。以2012—2017中国沪深A股上市高新技术企业为样本,围绕税收优惠强度和具体优惠政策对企业创新产出的激励效应展开实证研究,结果发现:(1)税收优惠强度对企业的创新产出存在正向激励作用,相对于创新效果而言,对创新质量的激励作用更为明显。(2)研发费用加计扣除政策的创新激励效果优于优惠税率政策,且两者之间存在互补效应。(3)基于异质性视角分析,税收优惠强度和具体税收优惠政策的激励效应在政府干预市场程度更高或法制环境更完善地区的企业以及规模较大企业、非国有企业中更加明显。研究结论表明,有关部门应继续加大税收优惠政策对企业创新的扶持力度,不断调整和优化税收优惠政策体系结构,提高政策的导向性、协同性、精准性,从而更加有效地激发企业创新创造活力,推动创新成果的大量涌现。

英文摘要:

      Innovation is the core and soul to guide the economic development of a nation. Due to the good conductive function of tax leverage, tax preferences are fiscal and taxation tools commonly used by governments to encourage companies to innovate, so its incentive effect on innovation has always been of great concern. Using the samples of A-share high-tech companies listed on Shanghai Stock Exchange and Shenzhen Stock Exchange during the years from 2012 to 2017, this paper studies the incentive effect of tax incentive intensity and specific preferential policies on the innovation output of high-tech enterprises. The results show that:(1) Tax incentive intensity has a positive effect on corporate innovation output, with more obvious incentive effect on innovation quality than on innovation effect; (2) The innovation incentive effect of R&D expense additional tax deduction policy is superior to the preferential tax rate policy, and there is a complementary effect between the two; (3) Based on the analysis from a heterogeneous perspective, the incentive effect of tax incentive intensity and specific preferential policies is more pronounced in such enterprises, relatively large-scaled enterprises and non-state-owned enterprises that are located in the areas with greater market intervention from governments and with better legal environment. The conclusions of the study indicate that the relevant government authorities should continue to increase the support of preferential tax policies for enterprise innovation, continuously adjust and optimize the system structure of preferential tax policies, and improve the directionality, synergy and precision of policies so as to stimulate the vitality of enterprise innovation and creativity more effectively and promote the emergence of innovative achievements in large numbers. 