Research On The Impact Of Tax Preferences On Enterprise Innovation Behavior

At present,China's economy is still in a critical period of the transformation of old and new kinetic energy.As an indispensable part of the macro economy,enterprises have played a pivotal role in the development of the state to innovative countries.Due to the publicity of R&D innovation,the externality of innovation benefits,technical risks and uncertainties,the market mechanism fails in R&D and innovation activities,and it is necessary for the government to stimulate corporate innovation activities through public fiscal policy.To this end,the government has introduced a series of tax incentives to support enterprises in innovation and development,the most representative of which is-"High-tech enterprise identification management measures." At present,these policies have achieved certain results,but there are still some problems that need to be further improved.Therefore,studying the factors that affect the enterprise's innovation decision-making by tax preferential policies has important theoretical and practical significance for promoting enterprise innovation and thus enhancing national innovation strength.This paper first reviews the research of predecessors and constructs a theoretical framework for how tax incentives affect corporate innovation behavior.In order to conduct more in-depth research,this paper sorts out the current state of China's enterprise innovation tax incentives and the status quo of R&D and innovation of Chinese enterprises,and conducts corresponding analysis according to the specific situation.This paper divides the innovation behavior into exploratory innovation and utilization innovation.From the perspective of the cited situation of enterprise R&D patents,the index is used to measure these two kinds of innovation behaviors,and the panel data of China's A-share listed companies in 2005-2013 Based on this,a double difference model is established to study the impact of China's tax incentives on corporate innovation behavior.Then the enterprise is divided into state-owned enterprises and private enterprises,low-debt enterprises and high-debt enterprises to conduct heterogeneity analysis.Finally,based on the theoretical analysis and empirical research of this paper,the corresponding suggestions for enterprise innovation preferential policies are put forward.Through empirical analysis,the paper draws the following conclusions:(1)The enterprises that are encouraged by the policy increase the expected tax incentives,but their impact on exploratory innovation is not significant.On the contrary,it has a significant positive impact on the use of innovation.(2)For state-owned enterprises,the impact of tax incentives on enterprise-exploratory innovation is not significant,and the use of innovation is a significant positive impact.For private enterprises,the conclusion is exactly the opposite.(3)For low-liability companies,tax incentives have a significant impact on the company's exploratory innovation and utilization innovation,while for high-liability companies,the tax incentives have no significant impact on the two types of innovation.