The Impact Of Corporate Income Tax Incentives On Corporate Technological Innovation

Innovation is the primary driving force for development and an inexhaustible source of national prosperity and social progress.At present,China is in a new stage of high-quality economic development.Technological innovation is being paid attention to by more and more enterprises and countries with its important promoting role.As one of the important bodies of the national innovation system,the characteristic of enterprises determines their important role in the field of technological innovation and is an indispensable important support for building a modern economic system.Enterprise technology innovation has strong externality,easy to form a "free rider" phenomenon,resulting in insufficient investment in technology innovation,technology innovation output reduction.On the other hand,technological innovation is characterized by great uncertainty and risk,which further leads to insufficient investment in technological innovation and reduced output of technological innovation.The tax policies adopted by the government to encourage technological innovation of enterprises can reduce the cost of technological innovation of enterprises to a certain extent,enhance the ability of enterprises to resist uncertainties and risks,and play an important role in technological innovation of enterprises.In recent years,we have issued a series of preferential tax policies to encourage technological innovation of enterprises,and the incentives are increasing.Therefore,it is of great importance to test the implementation effect of tax incentive policies and explore their mechanism of action in enterprise technological innovation as well as whether there is heterogeneity of policy effect under different circumstances for optimizing tax incentive policies,promoting enterprise continuous innovation and promoting national economic development.This thesis reviews the main research results of domestic and foreign scholars on the impact of corporate income tax incentives on corporate technological innovation,summarizes them,and clarifies the correlation between corporate income tax incentives and corporate technological innovation.On this basis,it summarizes the relevant theories of enterprise income tax incentives affecting enterprise technological innovation,including externality theory,uncertainty and risk theory,and government intervention theory.Then it analyzes the mechanism of enterprise income tax incentives on enterprise technological innovation,which provides relevant theoretical basis for further research.On this basis,the enterprise income tax incentives,technological innovation input and technological innovation output are included in the analysis framework.This thesis collected the latest micro data of A-share listed companies from 2017 to 2021,screened out the main innovation-related data of 1,462 A-share listed companies,A total of 7,310 samples,and empirically-analyzed the impact of corporate income tax incentives on corporate technological innovation by constructing multiple regression models.The results show that the enterprise income tax incentive stimulates the increase of technological innovation input intensity and the increase of technological innovation output.At the same time,the results of heterogeneity analysis show that,compared with non-eastern enterprises,corporate income tax preferential policies have a stronger role in promoting technological innovation of enterprises in eastern regions.Compared with non-manufacturing enterprises,the preferential tax policy of enterprise income tax plays a stronger role in promoting technological innovation of manufacturing enterprises.Compared with small-scale enterprises,preferential tax policies of enterprise income tax promote technological innovation of large-scale enterprises more strongly.Combined with the above analysis and conclusions,this thesis puts forward some suggestions to improve the technological innovation of enterprises,such as improving the legal level of tax preferential policies and increasing the incentive for enterprises in non-eastern regions.