Research On The Impact Of Tax Incentives On Technological Innovation Performance Of Advanced Manufacturing Enterprise

With the increasingly serious risk of China’s economy "turning from real to virtual",promoting the development of the real economy is an important task at present.As the main body of the real economy,advanced manufacturing industry,as a symbol of industrialization development,plays an important role in promoting the development of manufacturing and even the real economy.However,there are still technical bottlenecks in the development of advanced manufacturing,and the efficiency of innovation input transformation is also restricting the development of advanced manufacturing.Therefore,in order to stimulate the innovation vitality of advanced manufacturing enterprises and improve the technological innovation performance of advanced manufacturing industry,the government has issued various preferential tax policies.With the support of government tax policies,the scale of innovation has increased.Therefore,studying the impact of tax incentives on the technological innovation performance of advanced manufacturing enterprises will help the innovation and development of China’s advanced manufacturing industry.This article is divided into six parts.The first part is the research background and significance,literature review,etc.The second part is the definition of concepts and related theoretical foundations.It clarifies the connotation of advanced manufacturing,enterprise technological innovation performance and tax incentives.This paper elaborates the theory of endogenous economic growth,market failure and government intervention,information asymmetry and signal transmission theory,and innovation value chain theory.It also explains how tax incentives and external market conditions support the two-stage performance of enterprise innovation.The third part sorts out the preferential tax policies and the current situation of technological innovation of advanced manufacturing enterprises.The fourth part is the measurement of the technological innovation performance of advanced manufacturing enterprises.The indicators were selected from the stage of scientific and technological research and development and the stage of achievement transformation,and the DEA-BCC model was used for measurement.The fifth part is the empirical analysis of the technological innovation performance of advanced manufacturing enterprises by tax incentives,and according to the relevant assumptions,182 advanced manufacturing sample enterprises in China are used as research objects,and the Tobit model is used to carry out regression test and robustness test.The sixth part is to summarize the conclusions of the study and make relevant policy recommendations.It is found that: first,in the stage of scientific and technological research and development,tax incentives will inhibit the technological innovation performance of advanced manufacturing enterprises,and the external market environment will weaken this inhibitory effect;In the stage of transformation of innovation achievements,tax incentives will improve the technological innovation performance of advanced manufacturing enterprises,while the external market environment has no significant impact.Second,from the results of enterprise heterogeneity.First,by industry,in the stage of scientific and technological research and development,although the tax incentives have a negative coefficient on the two industries,they have no significant impact.In the stage of transformation of achievements,tax incentives have a significant positive impact on high-tech enterprises compared with non-high-tech enterprises.Second,subregions.In the stage of science and technology research and development,tax incentives have a significant negative inhibition effect on enterprises in both regions.In the stage of transformation of innovation achievements,tax incentives have a significant positive effect on enterprises in both regions.Third,the nature of the enterprise.In the stage of science and technology research and development,tax incentives have a stronger negative effect on state-owned enterprises;In the stage of transformation of innovation achievements,tax incentives have a stronger positive promotion effect on state-owned enterprises.Therefore,in order to improve the technological innovation performance of advanced manufacturing enterprises,the design of preferential tax policies should pay attention to performance-oriented,increase the tax incentives in the commercialization stage of innovation results,implement preferential tax policies with regional differences,strengthen the management of preferential tax policies,and improve the implementation of the property rights protection system.The possible innovation point of this paper is to divide the technological innovation of advanced manufacturing into two stages from the perspective of innovation value chain,and analyze the impact of tax incentives on the technological innovation performance of advanced manufacturing enterprises.