The multiple incentive effect of tax incentive on enterprise innovation

Abstract

Abstract: To stimulate the impetus of enterprises' innovation and improve their innovation ability to solve technical problems in key areas are the internal needs of building an innovative country and promoting high-quality economic growth in the new era.Based on the exogenous policy impact of accelerated depreciation of fixed assets in 2014 and 2015, this paper studied the impact of tax incentives on enterprise innovation by using a progressive dual difference model.The study found that tax incentives can alleviate enterprise cash flow and financing constraints, change management expectations and restrain enterprise financialization to positively stimulate enterprise innovation; and the policy not only significantly increases the substantial innovation output, but also effectively improves the quality of enterprise innovation; meanwhile the incentive effect is more obvious in capital-intensive enterprises, private enterprises and high-tech enterprises.The above conclusions not only explain the impact of tax incentives on enterprise innovation from the micro perspective, and provide theoretical explanation and empirical evidence for the decision mechanism of enterprise innovation behavior, but also provide policy inspiration for the construction of modern fiscal & tax system and the high-quality economic development.

Key words: tax incentives, accelerated depreciation of fixed assets, enterprise innovation, innovation quality

CLC Number:

GAN Xingqiong, YU Qian. The multiple incentive effect of tax incentive on enterprise innovation[J]. Journal of Guizhou University of Finance and Economics, 2023(03): 71-80.

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