“营改增”对制造业企业自主创新的影响——兼议制造业企业的技术引进

The Effect of 'to Replace Business Tax with VAT' on the Indigenous Innovation of Manufacturing Enterprises:With Some Implications for Technical Introduction of Manufacturing Enterprises

"营改增"政策打通了增值税抵扣链条,不仅会对企业税负产生影响,而且会改变企业的行为。创新是国家经济增长的关键,"营改增"影响企业创新行为的实证研究尚属空白。基于此,文章以2008-2013年制造业上市公司为样本,采用双重差分法研究了"营改增"政策对中国制造业企业自主创新的影响及其作用机制。研究表明,"营改增"政策可以通过促进专业化分工显著地降低制造业企业以专利为表征的自主创新意愿。进一步分析发现,自主创新意愿的降低并没有对制造业企业的盈利能力和企业价值造成影响;"营改增"在降低企业自主创新意愿的同时提高了企业的技术引进水平。文章的研究弥补了"营改增"影响企业自主创新的研究空白,为"营改增"政策效应的研究提供了新的视角,同时对于制造业企业创新模式的选择及政府产业政策的制定具有重要的政策含义。

‘To replace business tax with VAT＇ policy opens up the VAT deduction chain,not only impacting enterprises＇ tax burden,but also changing the behavior of enterprises.The current research mainly analyzes the policy effect of ‘to replace business tax with VAT＇ from the perspectives of corporate tax burden,fiscal revenues,corporate investment,industrial structure and so on.It does not address the perspective of ‘indigenous innovation＇.Innovation is the key to national economic growth.The empirical research of ‘to replace business tax with VAT＇ affecting enterprise innovation behavior is of great research significance.Based on the sample of manufacturing listed companies in A-share markets of Shanghai and Shenzhen from 2008 to2013,with the help of the change in the number of patents in manufacturing listed companies before and after‘to replace business tax with VAT＇ policy,this paper uses difference-in-difference（DID）method to study the impact of ‘to replace business tax with VAT＇ policy on indigenous innovation of Chinese manufacturing enterprises.Research shows that the ‘to replace business tax with VAT＇ policy significantly reduces manufacturing enterprises＇ willingness to do indigenous innovation and inhibits the indigenous innovation output of enterprises.The theoretical logic behind lies in that when business tax and VAT exist at the same time,manufacturing enterprises need to provide service products needed on their own in order to avoid double taxation.After the reform,due to the solution to the problem of double taxation,some enterprises adopt service and technology outsourcing more to meet the needs of production and operation,and reduce the self-sufficiency of service products such as information technology and software RD which belong to non-core business,thus reducing the matching will of indigenous innovation,that is,‘to replace business tax with VAT＇ can reduce the willingness to do indigenous innovation in manufacturing enterprises by promoting specialized division of labor.Further analysis shows that,the reduction in the willingness to do indigenous innovation has not affected the profitability and corporate value of manufacturing enterprises.Although ‘to replace business tax with VAT＇ reduces enterprises＇ willingness to do indigenous innovation,it also improves the level of technical introduction of enterprises and leads to the change in enterprise innovation mode.The main contributions of this paper are as follows：firstly,it makes up the empirical research gap of the effect of ‘to replace business tax with VAT＇ policy on indigenous innovation,and provides empirical evidence for the relationship between ‘to replace business tax with VAT＇ policy and indigenous innovation;secondly,this paper focuses on the important relationship between macro-state policies and innovative behavior of micro enterprises,meets the current situation of the new normal and has important clear policy implications,providing theoretical support for the choice of innovation mode of manufacturing enterprises and the formulation of government industrial policy：as for enterprises,manufacturing enterprises should take ‘to replace business tax with VAT＇ policy as an opportunity to achieve synergy between indigenous innovation and technical introduction,and further deepen the specialized division of labor;as for governments,government departments should actively create a favorable market environment and enhance the protection of intellectual property rights,promoting ‘mass entrepreneurship and innovation＇ substantively while amplifying the dividends of ‘to replace business tax with VAT＇ policy.