Study On The Influence Of Financial Subsidies And Tax Incentives On Non-efficient Investment In New Strategic Industries

Under the new normal economy,strategic emerging industries have gradually become the mainstay of steady growth and structural adjustment.It is an important force to guide and promote sustainable economic development.At present,our government exerts great use of financial subsidies.Tax incentives and other fiscal and tax incentive policies support the strategic emerging industries.It deserves our attention.Exploring the impact of financial subsidies and tax incentives on non-efficiency investment in strategic emerging industries,It will help us to deepen the research on non-efficiency investment in strategic emerging industries from the perspective of government behavior.The scope of non-efficiency investment research of strategic emerging industries and how to improve the strategic emerging industries for the government?Investment efficiency provides policy basis and decision reference.Then,the implementation of fiscal subsidies and preferential tax policies for the non-efficiency investment of strategic emerging industries.What the hell is going on?Will the effect of different property rights be different? And as two different things.Fiscal and tax incentives,financial subsidies,tax incentives to the strategic emerging industries non-efficiency investment impact effect.Is it different? Based on the literature review,literature analysis and theoretical analysis are used.The empirical analysis to our country in 2012-2016 strategic emerging industries as the research object,by constructing panel data model,the empirical test of strategic emerging industry in China fiscal subsidies and tax breaks its influence on the efficiency of investment.After empirical research,the following conclusions are drawn :(1)financial subsidies for strategic emerging industries.It will aggravate the overinvestment of enterprises and the overinvestment of state-owned enterprises by fiscal subsidies compared with non-state-owned enterprises.The impact is even greater.(2)in the case of strategic emerging industries,tax incentives will ease the investment shortage of enterprises.Moreover,compared with state-owned enterprises,tax incentives have a greater impact on non-state-owned enterprises.(3)The two kinds of incentive policies of fiscal subsidies and tax incentives have different effects on the non-efficiency investment of enterprises.Finally,the paper proposes the establishment and improvement of fiscal andtaxation policies from the perspective of government and enterprises.The supervision mechanism,the comprehensive use of financial subsidies,tax incentives two kinds of incentive policy tools,the optimization of the relationship between the two.It has certain practical reference value to construct and strengthen the policy Suggestions such as internal management of the company.