财政补贴、税收优惠对战略性新兴产业研发投入的影响研究

Research on the Influence of Financial Subsidies and Tax Preferences on R&D Investment of Strategic Emerging Industries

战略性新兴产业的特点是密集的知识和技术、低资源消耗、巨大的增长潜力及良好的整体效益,是转变经济发展方式和调整产业结构的重要动力。本文选取战略性新兴产业357家上市公司2014—2018年的财务数据,通过构建财政补贴和税收优惠对研发投入影响的多元回归数据模型进行实证研究,检验了财政补贴、税收优惠政策与研发投入之间是否存在挤进效应。研究结果发现,财政补贴与税收优惠激励措施均显著地正向促进战略性新兴产业的研发投入,而且当两种政策并行时并不会影响各自的激励效果,仍为显著的正向激励作用。最后,提出完善我国战略性新兴产业发展的财税政策建议。

Strategic emerging industries are characterized by intensive knowledge and technology,low resource consumption,huge growth potential and overall enabling benefits,which are important driving forces for transforming the economic development mode and adjusting industrial structure.In this paper,the financial data of 357 listed companies in strategic emerging industries from 2014 to 2018 are selected,and the multiple regression data model of the influence of financial subsidies and tax incentives on R&D investment is constructed to test whether there is the crowding out effect between financial subsidies,tax incentives and R&D investment.The results show that both financial subsidies and tax incentives significantly and positively promote R&D investment in strategic emerging industries.Besides,when the two policies are implemented together,they will not affect their respective incentive effects,but still have a significantly positive incentive effect.Finally,some suggestions on improving the fiscal and taxation policies for the development of China’s strategic emerging industries are proposed.