研发费用加计扣除对企业创新激励的实证研究

An empirical study on the incentive of enterprise innovation by deducting R&D expenses

我国为提高企业竞争力、建设创新型国家、实施创新驱动战略,实施了一系列的研发费用加计扣除的税收优惠政策。依据沪深两市A股上市企业2013~2019年的数据,使用DID模型对研发费用加计扣除政策对我国企业创新激励的影响进行实证研究,实证结果表明:研发费用加计扣除比例由50%提高至75%的政策对企业的创新产出具有负向的创新激励作用,并且实证结果通过稳健性检验具有稳健性;加计扣除政策的创新激励作用具有异质性,对非国有企业和非高科技企业的创新产出的负向激励作用更加显著。通过对加计扣除政策的创新激励效果研究,提出应实行适度的税收优惠政策、设定差别优惠税率、加强国家治理提高政府服务水平的建议。

In order to improve the competitiveness of enterprises and build an innovative country,China has implemented a series of preferential tax policies for the deduction of R&D expenses and implemented an innovation-driven strategy.Based on the data of A-share listed companies in Shanghai and Shenzhen from 2013 to 2019,the DID model is used to conduct an empirical study on the impact of R&D expense deduction policies on innovation incentives for Chinese companies.The empirical results show that the policy of increasing the ratio of R&D expense deduction from 50%to 75%has a negative innovation incentive effect on the innovation output of enterprises,and the em pirical results are robust through the robustness test;the innovation incentive effect of the super deduction policy is heterogeneous,and has a negative effect on non-high-tech enterprises.The negative incentive effect of innovation output is more significant.Through the research on the innovation incentive effect of the super deduction policy,suggestions were put forward that appropriate tax preferential policies should be implemented,differential preferential tax rates should be set,and national governance should be strengthened to improve govern ment service levels.