The Impact Of Tax Credit Rating On Enterprise Innovation

Innovation is important to economic development.Tax payment credit rating is an important measure to innovate tax collection and management in recent years and improve the construction of credit society.Taking tax payment credit rating disclosure as and non-a as policy experiment,this paper adopts part of annual report data of a-share listed companies from 2011 to 2018,and uses multi-time differential model to study the impact of tax payment credit rating on enterprise innovation.By controlling the time effect and individual effect,the net impact of this policy on enterprise innovation can be disclosed more directly by tax payment credit rating.In order to make this paper more reliable,this paper also carried out a series of robustness tests and heterogeneity analysis,and finally reached the conclusion of this paper.Through empirical research,this paper finds that enterprises with tax credit rating of a have significantly improved their innovation output.From the perspectives of financing constraints and corporate governance,this paper explains the internal path of the impact of tax credit rating on enterprise innovation.In addition,for enterprises of different nature,the promotion degree of tax credit rating on enterprise innovation is also different.From the perspective of industry,the promotion of tax credit rating for enterprises in innovative industries is higher than that for non-innovative enterprises.