Improve independent R & D capabilities China has implemented a series of measures to encourage enterprises to carry out R & D innovation activities.The electronics manufacturing industry has become an important supply body for the country’s technological innovation achievements.However,since the large and sophisticated equipment required for R&D and innovation in the electronics manufacturing industry is often expensive,the state has introduced many policies to support the electronics manufacturing industry,such as accelerated depreciation policies,to help alleviate this pressure.This paper firstly based on the research theme of this paper accelerated depreciation policy and enterprise R&D,briefly summarizes the specific content of accelerated depreciation of fixed assets from the theoretical level,puts forward the research hypothesis that the policy acts on the impact path of enterprise R&D,and summarizes the current situation of electronic manufacturing enterprises to do the research theoretical basis for the later empirical analysis.The data of listed electronic manufacturing enterprises in the past eight years are selected to test whether the accelerated depreciation policy has an impact on the explanatory variables by establishing a fixed-effects model.In addition,robustness tests of the substitution variables are conducted for R&D investment,including tests of mediating effects and heterogeneity analysis of innovation output formation mechanisms based on financial constraints and firm ownership.Finally,the study concludes that the accelerated depreciation policy has a significant effect on the R&D investment and innovation output of manufacturing enterprises;the cash flow of electronic manufacturing enterprises increases the R&D investment and thus promotes innovation output;it is positively correlated with the degree of financing constraints of enterprises and the accelerated depreciation policy has a more significant effect on state-owned enterprises.Finally,five policy suggestions are proposed in response to the empirical findings,among which the suggestions of relaxing the policy restrictions and improving the evaluation mechanism to enhance the efficiency of the transformation of innovation results are proposed for the policy on the transformation of innovation results;secondly,a reasonable combination of tax preferential policies is proposed for the problems of insufficient funds and financing channel restrictions,including the principle of combining the application of preferences,enhancing the policy incentive effect and using the non-debt of preferential policies.tax shield.Further,deepening financial system reform and implementing differentiated accelerated depreciation policy are proposed for the specific conditions of different types of electronic manufacturing enterprises,and finally,optimizing tax collection and management procedures,simplifying tax collection process with the help of Internet big data and implementing innovative tax management methods are proposed for the overall implementation efficiency of accelerated depreciation policy. |