诚信纳税能够促进企业研发投入吗——基于我国上市公司纳税信用评级披露的证据

Can Ratepaying Integrity Promote Firms’R&D Investment——Evidence from the Disclosure of China’s Listed Companies’Ratepaying Credit Rating

利用国家税务总局网站披露的上市公司纳税信用A级数据,检验了诚信纳税能否对企业研发投入行为产生激励效应。研究发现:(1)诚信纳税能够促进企业研发投入增加,与未获评纳税信用A级企业相比,获评纳税信用A级企业的研发经费投入和研发人员投入水平更高;(2)上述诚信纳税对企业研发投入的正向影响具有产权异质性,与国有企业相比,在非国有企业中诚信纳税对研发投入的正向影响更大;(3)进一步的中介效应检验结果证实,增加税费返还、提升企业的银行信用借款及商业信用融资能力是诚信纳税促进企业研发投入增加的重要途径。

This paper used the A class appraisal data of ratepaying credit disclosed on the website of State Taxation Administration,and tested whether there was an incentive effect of ratepaying integrity on firms’R&D investment.The results showed that,ratepaying integrity could promote firms’R&D investment.And compared with the firms without A class appraisal,the firms with A class appraisal had more fund investment and higher level of R&D personnel investment.Meanwhile,the positive effect of ratepaying integrity had the heterogeneity of property rights,which was more significant in non-state-owned enterprises than that in state-owned enterprises.Further mediating effect tests confirmed that,the promoting paths of this positive effect included increasing tax refund,improving the ability of bank credit borrowing and enhancing commercial credit financing capacity.