避税行为对温州企业技术创新影响的实证分析

Empirical Analysis of the Impact of Tax Avoidance on Technological Innovation of Wenzhou Enterprises

技术创新能力决定企业生存与发展,而充足的现金流是企业研发投入的基础。在现金流不足以支撑潜在的企业研发时,企业往往会选择合理避税减少现金流出。选择2010—2017年温州20家A股上市公司的相关数据,建立回归模型,进行相关性分析和回归分析,检验避税行为对企业技术创新产生的影响,结果表明,合理避税能在一定程度上促进企业技术创新,二者呈正相关;企业股权越集中,越能促使避税行为产生的现金流转变为企业研发投入。

Technological innovation ability is decisive in the survival and development of enterprises while sufficient cash flow is the foundation of R&D investment. Enterprises often choose ethical tax avoidance to reduce cash outflow when cash flow fails to sustain potential R&D needs. Based on the data of 20 A-share listed companies in Wenzhou from 2010 to 2017, this paper empirically examines the impact of tax avoidance on technological innovation of enterprises by establishing a regression model and analysis of correlation and regression. Research finds that ethical tax avoidance of enterprises is positively related to technological innovation of enterprises in general. The more concentrated the ownership of enterprises, the higher possibility of turning cash flow into R&D expenditure through ethical tax avoidance.