Research On The Impact Of Additional R&d Expense Deduction On Innovation Performance Of High-tech Enterprises

In recent years,the international competition in science and technology has become more and more severe,and the number of trade competitions has gradually increased.Some countries have imposed some trade restrictions on our country,which has led to the existence of China in some areas by other countries "neck" situation,the core technology has become an important problem that restricts the economic development of China.To this end,General Secretary Xi has repeatedly made important speeches to speed up scientific and technological innovation in China to put forward more urgent requirements,the rapid development of scientific and technological innovation to master the core technology into their own hands,but also to enhance the core competitiveness of China’s enterprises in the international arena.Tax incentives are directly related to enterprise innovation,and are a series of targeted policies formulated by the state to encourage enterprises to carry out scientific and technological innovation activities.High-tech enterprises are the core force of the country to promote high-quality development by scientific and technological innovation,and their role in enhancing innovation capacity is undeniable.Therefore,digging into the correlation between the R&D expense-plus deduction policy and the innovation activities of high-tech enterprises can enable the country to better understand the specific implementation effect of this policy,which is of great value and significance in promoting national transformation and achieving the goals of high-tech innovation development and high-quality economic development.This paper firstly elaborates the development history of China’s R&D cost-plus deduction policy,and then,guided by theories of tax regulation,external effects and Schumpeterian innovation,sorts out the logical line of how R&D cost-plus deduction affects enterprises’ innovation performance,and comes to the following conclusions:the specific path of enterprises’ innovation performance affected by the policy is that the higher the amount of R&D cost-plus deduction credit obtained by enterprises,the smaller the financing constraint.The stronger the R&D investment,the more innovation output obtained,which can bring more economic benefits to the enterprises and make the level of their innovation activities improve.After clarifying the relevant influence paths,this paper selects Hengrui Pharmaceutical as a case study,explores the model of Hengrui Pharmaceutical’s R&D innovation and the application of its R&D expense deduction policy,analyzes the differences of Hengrui’s innovation activities before and after the increase of R&D expense deduction ratio in 2018 and2021,draws relevant conclusions,and then puts forward corresponding suggestions in a targeted manner.The main conclusions are: in the analysis with Hengrui Pharma as the case study,it is found that the policy of R&D expense plus deduction can affect the innovation input,innovation output and innovation income generation of enterprises;when the entropy value method is used to construct the evaluation system of innovation activities for the case study enterprises,it is found that the policy of R&D expense plus deduction can improve the overall innovation activities of enterprises to a certain extent.The innovations of this paper are: firstly,starting from a typical case,we adopt the method of dissecting the sparrow to explore how the innovation performance of enterprises is influenced by the policy of R&D cost-added deduction;secondly,we analyze the mechanism of the effect of the policy of R&D cost-added deduction on the innovation performance of enterprises.Based on the findings of this paper,the following suggestions are made for how the policy beneficiary enterprises can better use the policy of R&D expense deduction in order to promote the R&D innovation activities of the company: firstly,enterprises should continue to increase their R&D investment;secondly,enterprises should pay attention to the investment in basic research;thirdly,enterprises should improve the efficiency of innovation transformation;fourthly,enterprises should reasonably categorize and classify their R&D expenses.