R&D Subsidies,Tax Incentives And Corporate R&D Investment

How to improve the ability of independent innovation,through technological innovation to improve China's comprehensive national strength and achieve economic development and transformation,is one of the important tasks of our country."Thirteen five" plan,the "innovation-driven development significantly" into the "five years of economic and social development of the main objectives" and put forward"innovation is the first driving force to develop" must be put in the national development of innovation in the overall situation The core location.It can be seen that our country attaches great importance to promoting scientific and technological innovation,improve the overall level of social development.From the macro level analysis,technological progress is the key factor to promote economic growth,but also to improve China's international competitiveness of the important way.From the micro level analysis,in the process of enterprise growth,new technology,new product development,production,manufacturing is also the source of the core competitiveness of enterprises.However,due to the development of new products and new technologies with the characteristics of public goods,that is,externalities,as well as R&D activities of their own risk characteristics,only by the market to play a regulatory role is not enough,Cairns,Green and other scholars have concept,advocated government intervention in the national economic operation,to make up for the shortcomings of market regulation,optimize the allocation of resources.Through the theoretical analysis and the related background and present situation,this paper shows the necessity of the government regulation and control to achieve the goal of optimizing the allocation of resources and the current fiscal incentive policy,namely,the status quo and shortcomings of R&D subsidy and tax preferential policies,and then combined with the listed companies The results of the online regression analysis were used to test the influence of the government's R&D subsidy policy and the tax preferential policies on the R&D investment of the enterprises,and the incentive effects of the two fiscal policies were compared and put forward.policy suggestion.The first part is the introduction.Including the research background and research significance of this article,the government research and development subsidy and tax preferential policies and enterprise R&D expenditure concept definition,literature review,research ideas and so on.The second part analyzes the relevant theories of government subsidy to enterprises.The theory of market failure and the theory of endogenous economic growth are expounded,which shows that the R&D role of enterprises is characterized by externality,risk and information asymmetry,which requires the intervention of government "tangible hand" and scientific innovation.To explain the importance of scientific and technological innovation,draw the relevant conclusions:to improve the independent innovation capability of enterprises to promote social and economic development has an important role in government research and development activities of the fiscal policy to help enterprises to improve research and development innovation Investment,so as to enhance the competitiveness of enterprises and the whole country.The third part analyzes the current main financial incentive policies in China:R&D subsidies and tax preferential policies,the present situation of R&D expenditure in China is expounded,and some foreign tax preferential policies are listed,and the research and development subsidy And tax incentives are still part of the lack of financial incentives to benefit a small range,some R&D subsidies are not targeted,and tax incentives scattered,did not form a unified system.The fourth part is based on the previous theoretical analysis,the use of 2013-2015 listed companies on the GEM micro-data linear regression test,the current research and development subsidies and tax incentives for enterprises to invest in resources to carry out research and development activities are Incentive role,and the incentive effect of tax incentives stronger conclusions.The fifth part is conclusion and policy recommendations.Review and summarize the full text and draw the main conclusions of the study,put forward suggestions for the conclusion:the establishment of a comprehensive and effective fiscal policy system,a clear R&D funding purposes,improve tax incentives,improve the data disclosure system.The innovation of this paper is that the scholars in the past are concerned with the effect of the individual fiscal policy on the R&D expenditure.This paper compares the effectiveness of the two major fiscal policies,namely,R&D subsidies and tax incentives;Research variables,many research scholars in the study of government research and development subsidies to dummy variables to deal with this paper,using numerical independent variables and dependent variables for empirical research,more accurate analysis of fiscal policy and the relationship between corporate R&D expenditure;This paper collects the specific amount of enterprise R&D subsidy and judges the government subsidy,distinguishes it from the general subsidy,makes the data and conclusion more accurate.This paper collects the latest data and data update of the listed companies from 2013 to 2015.But also on the previous year to supplement and expand research.The shortcomings of this paper is:data collection,this article on the R&D subsidies to collect the amount of data is calculated by summing up.In the analysis of corporate disclosure of government subsidies,it is difficult to determine from the name of the funds are related to the R&D activities of the enterprise,because the sample size and time is limited,can not look at the government government subsidies,will inevitably lead to individual enterprise research and development Subsidy data more or less,and the actual situation is different.In the past,scholars' research shows that the R&D expenditure of the enterprise is not only related to the fiscal policy of the current year,but also affected by the fiscal policy of the previous year.The amount of R&D subsidies and tax concessions selected in this paper are collected in the financial report of the current year,This model can not be used to determine whether the government's fiscal policy has lagging behind the R&D expenditure of the enterprise.