Research On The Impact Of Tax Incentives On The Technological Innovation Of Environmental Protection Enterprises

Innovation is the primary driving force for development,and the Chinese economy is moving from a stage of rapid growth to a stage of high-quality development.At present,there are many factors restricting the high-quality development in China,and resource and environmental constraints are one of them.In order to solve the problem of resource and environmental constraints and achieve high-quality development,environmental protection enterprises should take action and actively carry out innovative activities.But in fact,due to the high risk of innovation activities and the positive externality of innovation results,many environmental protection enterprises do not have a high enthusiasm for innovation.Tax preferential policy is one of the important tools for the government to implement macro-control.It can reduce the tax burden of enterprises,transfer a sum of capital to enterprises,and then reduce the innovation cost and innovation risk of enterprises,can effectively improve the innovation level of enterprises,so as to promote environmental protection enterprises to achieve high-quality development as soon as possible.With the increasing attention to environmental protection in China,the government has formulated a series of preferential tax policies to promote the innovation of environmental protection enterprises.Therefore,it is necessary to clarify the incentive effect and function mechanism of tax preferential policies on the innovation performance of environmental protection enterprises.This paper adopts the combination of empirical analysis and literature research,the tax incentives,research and development investment and enterprise innovation performance related research,and expounds the signal transmission theory,market failure theory,tax incentive theory and related theoretical knowledge,then analyzes the relevant mechanism,then put forward the research hypothesis of this paper,laid a foundation for the back of the research.Subsequently,the innovation status of China’s listed environmental protection companies was displayed according to the status of R&D investment,the status of R&D personnel investment and the innovation performance,and then the preferential tax policies enjoyed by environmental protection enterprises were sorted out.Finally,taking the data of the environmental protection listed companies as the research sample,the fixed effect and intermediary effect model are established,and the relationship between tax incentives,R&D investment and innovation performance and the intermediary role of R&D investment are studied,and the bootstrap method is used to test the intermediary effect.In addition,this paper also will be environmental protection enterprises according to different regions,different property rights group regression,heterogeneity analysis.Based on the empirical analysis results,we can draw the following conclusions:First,tax incentives can promote the innovation performance of environmental protection enterprises.Second,the r & d investment of environmental protection enterprises plays an intermediary role in the promotion of tax incentives on the innovation performance of environmental protection enterprises.Third,tax incentives have a positive incentive effect on the innovation performance of environmental protection enterprises with different property rights,but the incentive effect of non-state-owned enterprises is better than that of state-owned enterprises.Fourth,the incentive effect of tax incentives on the innovation performance of environmental protection enterprises in eastern and central China is significant,while the incentive effect on the innovation performance of environmental protection enterprises in western China is not significant.Based on the above research,this paper puts forward suggestions such as formulating differentiated tax preferential policies,establishing the fund guarantee system of R&D investment,improving the innovation awareness of environmental protection enterprises,and fully broadening the financing channels of environmental protection enterprises.