两税合并后外资企业创新效率提升了吗——来自中国制造业的证据

Have the Policy of Income Taxes Merger Promoted the Innovation Efficiency of Foreign-funded Enterprises?——Evidence from Chinese Manufacturing Industry

2008年中国实施的内外资企业所得税合并结束了二元税制结构。这一税制变革保障了税则的公平性,其中有关企业研究开发投入的变化对企业创新活动产生什么样的影响,是这次税收规则变化的另一重要内容,其效果如何需要进行专门的研究与评估。本文基于偏向技术进步的理论框架构建两税合并与外资企业创新效率模型,采用倍差法实证考察了两税合并对外资企业创新效率的影响效果,在通过多种方法对分析结果进行了稳健性检验之后,我们发现:2005—2012年间中国制造业外资企业的创新效率整体处于上升趋势,但由于两税合并政策的实施,2008年外资企业创新效率出现增长加快的现象;政策的边际影响时滞微乎其微;同行业内资部门的份额越大,两税合并引致的外资企业创新效率提升越明显。两税合并政策不但有助于内资企业学习更多的先进技术,提升企业的竞争力,也有助于提升外资企业的创新动力。

The implementation of the Policy of Income Taxes Merger in 2008 ends dual taxation system, and guarantees the fairness of tax regulations. But the influence of the change of R＆D investment on innovation activity in enterprises is another important part in this change of tax regulation and the effect should get specific study and evaluation. Based on the theory framework of directed technological progress, this paper constructs the model of income taxes merger and innovation efficiency of foreign- funded enterprises, then discusses the effect of income taxes merger on innovation efficiency of foreign- funded enterprises by difference in difference method. After testing the stability of the analysis result in a variety of methods, we find that, from 2005 to 2012, the overall innovation efficiency of foreign-funded enterprises of Chinese manufacturing industry showed a rising trend, and as a result of the implementation of the policy of income taxes merger, innovation efficiency＇s growth rate of foreign enterprises speeded up since 2008. The marginal effect＇s delay of the policy is rare. The greater the domestic enterprises＇ share in the same industry is, more obvious the innovation efficiency of foreign enterprises caused by income taxes merger is. The policy of income taxes merger not only helps to domestic enterprises learn more advanced technology and enhance the competitiveness, but also helps to enhance the innovation impetus of foreign-funded enterprises.