车辆购置税优惠对新能源汽车企业创新绩效的影响分析

Effects of Vehicle Purchase Tax Incentives on Innovation Performance of New Energy Vehicle Enterprises

以2009—2018年中国新能源汽车上市公司的面板数据为样本,从消费视角出发,运用双重差分倾向得分匹配法探究车辆购置税优惠对新能源汽车企业创新绩效的影响。结果表明:车辆购置税优惠能显著提升新能源汽车企业的创新绩效;企业资金和市场需求在其中发挥了中介作用;异质性分析表明,车辆购置税优惠对小规模企业创新绩效的激励作用强于大规模企业,对非国有企业创新绩效的激励作用强于国有企业,对高成长性企业创新绩效的激励作用强于低成长性企业。建议提高车辆购置税优惠的实施强度,重视政策在消费端的间接激励作用,针对企业规模、所有权性质和成长性执行差异化政策。

Sampling the data of new energy vehicle listed companies in China from 2009 to 2018,we use the propensity scores matching with difference-in-differences model to analyze the effect of vehicle purchase tax incentives on the innovation performance of new energy vehicle enterprises from the perspective of consumption.The results are as follows:Vehicle purchase tax incentives can significantly improve the innovation performance of new energy vehicle enterprises.Through the mediation effect of enterprise capital and market demand,the vehicle purchase tax incentives can promote the innovation performance of new energy vehicle enterprises.Vehicle purchase tax incentives can significantly stimulate the innovation performance of small-scale enterprises compared with large-scale enterprises,and promote the innovation performance of non-state-owned enterprises stronger than that of state-owned enterprises.The promoting effect of the vehicle purchase tax incentives on innovation performance of high growth enterprises is more significant than that of low growth enterprises.It is advisable that the government should increase the vehicle purchase tax incentives appropriately and emphasize the indirect promoting effect of the policy on the consumption aspect.We also advise that the differentiated policy should be implemented according to enterprise scale,ownership and growth.