减税有利于高新技术“僵尸企业”的创新吗?

Is Tax Reduction Conducive to Innovation of High-tech “Zombie Firms”?

研究政府减税何以提升高新技术"僵尸企业"的创新能力,对推动我国供给侧结构性改革和落实创新驱动发展战略具有重大的理论与现实意义。本文使用2008-2014年全国创新调查企业数据库,借鉴ABBGH(2005)的一般均衡模型,界定了高新技术"僵尸企业"的概念与识别方法。主要发现:第一,给高新技术"僵尸企业"减税对企业创新存在显著促进效应,尤其对创新型"僵尸企业"减税存在较强的"杠杆效应";第二,给高新技术"僵尸企业"减税对企业创新的促进效应显著高于非高新技术"僵尸企业";第三,政府对偏向科研固定资产投资的创新型"僵尸企业"和倾向基础科学研究的效率型"僵尸企业"增加减税额度更有利于激发企业的创新活力,是促使高新技术"僵尸企业"起死回生的重要途径。政府可利用创新型"僵尸企业""重资产、轻科研"与效率型"僵尸企业""重科研、轻资产"的创新策略优化税收优惠政策,为平稳、持续、高效推动我国供给侧结构性改革和创新驱动发展提供新的治理框架。

It is of great theoretical and practical significance for promoting China’s supply-side structural reform and implementing the innovation-driven development strategy to study how the government tax reduction can improve the innovation of high-tech "zombie firms". This paper uses the micro-enterprise samples of the National Innovation Survey Enterprise Database over 2008-2014 and defines the concept and identification method of high-tech "zombie firms"based on the general equilibrium model of ABBGH( 2005). The main findings are as follows: Firstly,the tax reduction of high-tech "zombie firms " can significantly improve corporate innovation,and has a strong"leverage effect"on innovation-type"zombie firms". Secondly,the tax reduction of high-tech"zombie firms"has a significantly higher promotion effect on corporate innovation than non-high-tech"zombie firms". Thirdly,the large-scale tax reduction of innovative "zombie firms"in favor of fixed assets investment of scientific research and efficient"zombie firms"in favor of basic scientific research is more conducive to stimulating the corporate innovation vitality,bringing high-tech"zombie firms"back to life.Therefore,the government should take advantage of innovation strategies of innovative "zombie firms"that prefer assets to scientific research and efficient "zombie firms " that prefer scientific research to assets to improve preferential taxation policy and provide a new governance framework for promoting China’s supply-side structural reform and innovation-driven development strategy stably,sustainably and efficiently.