高新技术企业认定、税收优惠与企业技术创新——市场化水平的调节作用

Identification of High-tech Enterprises,Tax Incentives and Companies’ Technology Innovation:The Moderating Role of Marketization Level

本文以截至2016年底所有在高新技术企业有效期内的A股上市公司为样本,利用Bootstrap方法检验了高新技术企业认定办法激励企业技术创新的作用机制和外部环境的影响。实证研究发现,高新技术企业认定显著激励了企业技术创新,而税收优惠在其中发挥了完全中介作用;市场化水平在高新技术企业认定与税收优惠的关系中、税收优惠与企业技术创新的关系中都发挥了显著的调节作用。本研究为科学评价高新技术企业认定办法的有效性和政府进一步改善市场环境提供了重要的借鉴意义。

Using samples of Chinese A-share listed and high-tech companies in the period of validity by the end of 2016 and Bootstrap method,this paper tests the mechanism of the policy of identification of high-tech enterprises stimulating companies’technology innovation and the effect of external environment.The empirical study finds that identification of high-tech enterprises significantly stimulates companies’technology innovation,and tax incentive plays a complete mediating role between them.Marketization level plays a noticeable adjusting function in the relationship between identification of high-tech enterprises and tax incentive,and between tax incentive and companies’technology innovation.This study offers an important reference for scientific evaluation of the effectiveness of the policy of identification of high-tech enterprises and the government to further improve the market environment.