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Corporat Income Tax Incentives,R&D Investment,and Total Factor Productivity Of High-tech Enterprises

Posted on:2024-01-09Degree:MasterType:Thesis
Country:ChinaCandidate:Z Y PuFull Text:PDF
GTID:2569307085488264Subject:Tax
Abstract/Summary:PDF Full Text Request
In the context of the new development concept and the increasing ecological and resource constraints,the 20 th Party Congress report proposed to " insist on the theme of promoting high-quality development,speed up the construction of a modern economic system,and make efforts to improve total factor productivity".As a basic policy tool under the control of the government,whether tax policy can effectively improve the total factor productivity of micro-entities is the top priority of national governance.In the current economic context,science and technology,as the first productive force,closely affects the enhancement of total factor productivity of enterprises.High-tech enterprises,with their intensive R&D activities and outstanding technological progress,reflect the country’s innovation capability and contribute to industrial structure upgrading and total factor productivity enhancement.Based on this,this paper examines the impact of corporate income tax incentives,an important initiative to promote the development of high-tech enterprises,on the total factor productivity of high-tech enterprises,and the role played by R&D investment in the relationship between the two.This paper firstly compares and compares the domestic and foreign literature,and on the basis of this,the high-tech enterprises with strong willingness to innovate are selected as the research objects to open up some space for this paper,taking into account China’s national conditions.Secondly,the theories related to corporate income tax preference and total factor productivity are summarized,and the development status of high-tech enterprises and income tax preference policies are sorted out.Finally,this paper selects listed high-tech companies from 2014-2020 as a sample,and conducts benchmark regression analysis on the relationship between corporate income tax preferences and total factor productivity of enterprises,introduces R&D investment for mediation test,and analyzes the heterogeneity of property rights nature.Through theoretical and empirical analyses,the following conclusions are drawn.First,in high-tech enterprises,due to the implementation of corporate income tax preferences,the government increases the cash flow of enterprises,expands production,and stimulates the increase of total factor productivity of enterprises by reducing the taxes paid by enterprises.Second,R&D investment plays an intermediary role in the transmission mechanism between corporate income tax preference and total factor productivity of enterprises.The implementation of corporate income tax preference can effectively enhance the innovation ability of enterprises,promote enterprises to increase R&D investment,and then improve the total factor productivity of enterprises.Third,there is a significant heterogeneity of income tax preferences on the total factor productivity of enterprises,with the coefficient of influence of private enterprises being larger than that of state-owned enterprises.Based on the above findings,this paper makes the following suggestions: Firstly,improve the enterprise income tax preference system and improve the relevance of policy implementation;secondly,improve the quality of R&D innovation and promote high-quality development;thirdly,standardize the management of high-tech enterprise identification.Play the enterprise leading role of high-tech enterprises.
Keywords/Search Tags:Corporate Income tax preference, R&D investment, Total factor productivity, High-tech enterprises
PDF Full Text Request
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