Fiscal And Tax Incentive Policies,Industrial Heterogeneity And Independent Innovation Of Enterprises

Strategic emerging industries are gradually becoming the leading force to promote the transformation of China’s industrial structure,and independent innovation is the impetus for the development of strategic emerging industries,encouraging independent innovation of strategic emerging industries has become an important policy.Appropriate fiscal and tax incentive tools can make up for the loss of externality of independent innovation to some extent and reduce the risk and cost of innovation activities.According to the thought of "theoretical analysis-current situation analysis-empirical test-conclusion analysis-relevant Suggestions",this paper uses empirical analysis,data envelopment analysis and other research methods to study the impact of different fiscal and tax incentive tools on the independent innovation of strategic emerging enterprises and the difference in the impact effect between different industries.Based on the spillover effect theory,this paper finds that when enterprises carry out innovation activities,other enterprises have the behavior of "free-riding".As a result,the private marginal revenue of independent innovation enterprises is less than the social marginal revenue,which inhibits the initiative of independent innovation.Through the analysis of the current situation,it is found that in recent years,the investment in independent innovation of Chinese enterprises has been growing rapidly,but the strategic emerging industries still have the problems of insufficient r&d investment intensity and weak independent innovation ability.In order to enhance the independent innovation ability of strategic emerging industries,the government constantly increases subsidies for science and technology and reduces the tax burden of strategic emerging industries with tax incentives.From the sample of emerging comprehensive index,this paper selects strategic emerging enterprises listed in a-share from 2012 to 2017 as the research objects.Through empirical analysis,the following conclusions are drawn:(1)governmentsubsidies stimulate the independent innovation of strategic emerging enterprises.(2)tax incentives and income tax incentives have positive incentive effects on independent innovation of strategic emerging industries,but turnover tax incentives inhibit innovation input and innovation output of strategic emerging industries.(3)in different strategic emerging industries,there are obvious differences in the impact of fiscal and tax incentive policies on enterprises’ independent innovation.Based on the results of empirical analysis,this paper puts forward the following Suggestions :(1)expand the scope of fiscal and tax incentive policies and improve the structure of fiscal and tax incentive policies;(2)improve the precision of implementation of fiscal and tax incentive policies;(3)enrich fiscal and tax incentives for strategic emerging enterprises;(4)improve the assessment system of fiscal and tax incentive policies.