Research On The Optimized Allocation Of Fiscal And Tax Resources Based On Innovation Performance

General Secretary Jinping Xi stated in the report of the 19 th National Congress: "Science and technology innovation is a strategic support for improving social productivity and overall national strength." The externalities,quasi-public goods and uncertainty of technological innovation determine the high risk of technological innovation activities.Through a series of policy measures such as R&D subsidies and tax incentives,government reduces the risk of innovation activities,stimulates the innovation enthusiasm,and promotes the technological innovation capability of corporate.Under the limited fiscal and tax resources,the sustained high speed of fiscal technological investment is unsustainable.How to accomplish efficient and rapid innovation through limited fiscal and tax resources is essential.Based on the data of SMEs from 2007 to 2015,this paper analyzes the basic innovation input and output,evaluates the innovation performance using the SBM model considering undesired output,and explores the incentive effect of fiscal and tax policies support on innovation performance.The study found that,first,about 50% of the patents applied are not authorized in the data statistics year after application,and the degree of R&D failure is relatively high.Compared with non-invention patents,the degree of invention patents failure is higher.Second,form 2007 to 2015,the average innovation performance of SMEs was 0.6071,which has great room for growth.There are obvious regional differences in the innovation performance of SMEs,and the innovation performance in the southern and eastern coastal areas is significantly higher.The innovation performance of SMEs is not much different,but the innovation improvement potential is quite different.Third,there is a “U”-type relationship between R&D subsidies,tax incentives and innovation performance.Both of them have the best policy support interval to make the innovation performance the highest.In addition,on the basis of the limited fiscal and tax resources,this paper construct a fiscal and tax resources allocation model considering undesired output under the purpose of minimizing the expected output reduction and maximizing the input reduction,give the best distribution of fiscal and tax resources to support innovation development,and test the validity of the fiscal and tax resources allocation model.The study found that the innovation redundancy of SMEs is serious,about 70% of corporate can reduce R&D investment.The fiscal and tax resources allocation model has improved the innovation performance,reduced the degree of resource misallocation,and the allocation result is highly consistent with the actual industrial policy.The discontinuity of industrial policies can enhance the crisis awareness of companies and further improve the innovation performance.Finally,this paper systematically analyzes the overall process of administrative rank and equity nature on the fiscal and tax resources from the distribution,use and optimization.The study found that from the allocation perspective,when the company is located in higher-ranking cities or it's a state-owned enterprise,the more R&D subsidies it receives.From the use perspective,when the company is located in higher-ranking cities or it's a state-owned enterprise,the higher the amount of undesired output,but there is no significant correlation between administrative level,equity nature and expected output,innovation performance.From the perspective of optimizing resources allocation,when the company is located in higher-ranking cities or it's a state-owned enterprise,the innovation improvement ability is higher.In summary,this paper takes SMEs as the research subject,analyzes its innovation process in depth,and proposes the optimal allocation plan under the limited fiscal and tax resources.The research result promotes the application of resource allocation model in the optimal allocation of fiscal and tax resources to a certain extent,and expands the research on macro fiscal and tax policies,industrial policies and micro-enterprise behaviors.The result provides a decision-making reference for the formulation of fiscal and tax policies,industrial policies,policy makers of government departments to select R&D subsidy targets,improve the funding effect of fiscal and tax resources,and corporate' innovation management.