| With the rapid development of The Times and the increasingly complex international environment,countries all over the world pay more and more attention to technological innovation.At the same time,China will also use innovation as the primary driving force to promote high-quality economic development.A number of preferential tax policies have been introduced in order to support the active development and innovation activities of Chinese industries.The additional deduction policy is a very targeted preferential policy among many policies because it is closely related to enterprise R&D and innovation activities.The policy of additional deduction has been implemented for more than 20 years since it was introduced in the 1990 s.The policy has been improved and revised for many times,and its scope of application has become wider and larger,and the proportion of enterprises allowed to deduct has become higher and higher.According to the data of our official report,the overall R&D input and innovation output of Chinese enterprises in recent years has been growing,so the implementation of the policy has promoted the development of Chinese enterprises to a certain extent,and is of great significance for our industrial structure transformation and upgrading.In recent years,the R&D expense deduction policy has attracted much attention from scholars.Many scholars have studied the implementation effect of this policy in pharmaceutical manufacturing enterprises,traditional energy enterprises and other fields,but there are still few researches on Chinese automobile manufacturing enterprises.Therefore,this paper deeply studies how the policy will affect our automobile manufacturing enterprise innovation.This paper first discusses the principle of additional deduction policy to support enterprise innovation through relevant theories.Secondly,82 automobile manufacturing enterprises in Shanghai and Shenzhen A-shares were selected as the samples of this paper,and the preferential policy intensity,innovation input and innovation output were taken as the main indicators,and the multiple regression model was used to conduct an empirical study,so as to explore the influence of the preferential policy on the input and output of Chinese automobile manufacturing enterprises.Finally,it is found that the deduction policy can effectively promote the innovation of Chinese automobile manufacturing enterprises and increase the input and output of enterprises to a certain extent.At the same time,considering the differences among automobile manufacturers,the effect of the policy implementation will vary.Therefore,this paper conducts heterogeneity analysis from three aspects,and the results show that:(1)In terms of R&D input,the additional deduction policy has a significant incentive effect on the R&D input of both state-owned and nonstate-owned automobile manufacturing enterprises,and the incentive effect on non-stateowned automobile manufacturing enterprises is more obvious;In terms of innovation output,the additional deduction policy has a more significant incentive effect on stateowned automobile manufacturing enterprises,but not on non-state-owned automobile manufacturing enterprises.(2)The additional deduction policy has a significant promoting effect on the innovation of automobile manufacturing enterprises of different scales,and the policy has a more significant promoting effect on the innovation of large scale automobile manufacturing enterprises(3)In terms of R&D investment,the additional deduction policy has a significant incentive effect on the automobile manufacturing enterprises in both coastal and non-coastal areas,and the incentive effect is more obvious on the automobile manufacturing enterprises in coastal areas;In terms of innovation output,the additional deduction policy has a significant incentive effect on the automobile manufacturing enterprises in non-coastal areas,but the incentive effect on the automobile manufacturing enterprises in coastal areas is not significant.Finally,from the perspective of encouraging the innovation of automobile manufacturing enterprises and improving the policy of additional deduction,several policy suggestions are put forward.The government should further increase the preferential strength of the deduction policy,formulate the deduction policy based on the heterogeneity factors of enterprises and formulate the deduction policy for innovation output.Meanwhile,it should also strengthen the innovation cooperation between enterprises,universities and research institutes,so as to promote the innovative development of the automobile manufacturing industry and other industries. |
