税收激励对企业创新效应的影响及持续时间研究——基于多期DID模型的实证检验

Research on the Influence and Duration of Tax Incentive on Enterprise Innovation Effect--Empirical Test Based on Multi Period Did Model

增强减税力度是国民提升幸福感的重要动力,也是在企业经营发展过程中发挥作用的关键。文章借助2004~2009年历次增值税转型作为准自然实验,采用多期倍差法评估了减税对企业创新的影响及其机制。研究发现:第一,增值税转型改革显著提升了企业的创新能力,其促进作用对大型、东部和法制环境较好地区的企业更为明显。第二,进一步研究得出改革对不同地区企业的创新行为具有动态性;机制分析表明该政策可通过市场需求和职工待遇这两个渠道影响企业创新水平。第三,研究还发现,减税在总体上延长了企业的创新持续时间。研究结果表明,在加大减税政策力度的同时,还应持续加强对部分企业的差异化管理,做到国内企业创新“以大带小”“以强带弱”的同步进行。

Strengthening tax reduction is not only an important driving force for citizens to improve their sense of happiness,but also the key to play a role in the operation and development of enterprises.Based on the previous value-added tax transformation from 2004 to 2009 as a quasi natural experiment,this paper uses the multi period multiple difference method to evaluate the impact of tax reduction on enterprise innovation and its mechanism.The study found that:First,the transformation and reform of value-added tax has significantly improved the innovation ability of enterprises,and its promotion effect is more obvious for large enterprises,eastern enterprises and enterprises in areas with better legal environment.Second,further research shows that the reform has a dynamic impact on the innovation behavior of enterprises in different regions;Mechanism analysis shows that the policy can affect the innovation level of enterprises through two channels:Market demand and employee treatment.Third,the study also found that tax cuts generally prolonged the duration of enterprise innovation.The results show that while strengthening the tax reduction policy,we should also continue to strengthen the differentiated management of some enterprises,so that the innovation of domestic enterprises can be carried out simultaneously.