Research On The Influence Of Tax Preference Policy On Enterprise R&D Investment

As the bright pearl of the electronic information industry,integrated circuit is of great significance to the development of the country’s strategic emerging industries,and is the "food of modern industry" in China.However,China’s IC industry started late and its key core technologies were subject to the control of others.Zte,Huawei and other Chinese enterprises were subjected to multiple technological containment.In the fierce international competition in science and technology,only the innovator can make progress,but only the innovator can be strong.In order to promote the technology innovation of IC,China has formally included it in the national development plan,and introduced a number of tax reduction and preferential policies to support the development of related industries.Enterprises are the core participants in technological innovation activities.Input of R&D resources can enhance the technological competitiveness of enterprises,so as to protect the long-term development of enterprises.Therefore,it is of great theoretical value and practical significance to study the influence of tax incentives on R&D investment of integrated circuit enterprises.This paper adopts the method of combining qualitative and quantitative analysis,and combines theory with practice to sort out the literature first,and then studies the research status of domestic and foreign scholars and makes comments.This paper gives a detailed explanation of the relevant theories involved in this paper to build a sufficient theoretical framework and research basis.Finally,the R&D input and financial data of 51 Chinese A-share listed IC companies from 2015 to 2021 are selected as research objects.Descriptive statistics,regression analysis and robustness test are used to conduct an empirical study on the impact of tax incentives on R&D input and verify the research hypothesis.Through theoretical research and empirical analysis,the results show that:(1)the introduction of tax incentives effectively encourages IC enterprises to invest more R&D expenses and invest more R&D personnel,and the incentive effect of R&D personnel is more significant than that of R&D expenses.(2)In terms of R&D personnel and R&D expenditure input,state-owned enterprises receive more obvious tax incentives than non-state-owned enterprises.(3)Tax incentives enjoyed by IC designing enterprises are more conducive to stimulating their enthusiasm for R&D investment than non-IC designing enterprises.(4)The R&D investment of an enterprise is affected by its size,profitability,age and asset-liability ratio.With the expansion of enterprise scale,the enhancement of profitability and the reduction of asset-liability ratio,enterprises will invest more in research and development expenses.With the longer the development time of the enterprise,the enthusiasm of the research and development personnel will decline.