| Small and medium-sized enterprises(SMEs)account for the largest proportion of the total number of enterprises.They play a crucial and unique role in promoting economic growth,innovating technology,and increasing employment.However,as SMEs rapidly develop,some challenges have emerged,such as difficulty in financing,low survival rates,and short average lifespans.As China’s economy enters a new development stage,total factor productivity(TFP)has become an important indicator for evaluating future economic development,and promoting sustainable growth has become a primary goal of the country.In order to promote the innovative development of enterprises,the government usually adopts tax policies,among which the accelerated depreciation of fixed assets is a very important tax incentive policy and is gradually being improved.China carried out two reforms of the accelerated depreciation policy for fixed assets between 2014 and 2015,providing favorable conditions for more accurately evaluating the impact of a tax incentive policy on TFP of SMEs.To explore the impact of the tax incentive brought by the accelerated depreciation policy on the TFP of SMEs,this thesis puts forward a hypothesis of the relationship between the accelerated depreciation policy and the TFP of SMEs based on theoretical foundations and related mechanisms.The conclusion is drawn through empirical analysis: the accelerated depreciation policy has a stimulating effect on the improvement of the TFP of SMEs,and its impact on the TFP of state-owned SMEs is more significant,and there is heterogeneity in the impact on the TFP of SMEs with different asset sizes.On this basis,the following suggestions are put forward: strengthen the accelerated depreciation policy and expand its implementation scope;Increase the types of policies applicable to SMEs and refine policy provisions;Improve the external environment for the implementation of preferential tax policies for small and medium-sized enterprises. |
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