Research On The Influence Of Fiscal And Tax Incentive Policies On Technological Innovation Of Enterprises

Technological innovation is the logical starting point and fundamental driving force of scientific and technological progress.Under the theories of "Innovation-Driven Economic Growth" and "Market Failure",it has become the mainstream for countries to enhance their core competitiveness through technological innovation,and governments intervene in innovation activities in various ways.The global competition focused on innovation is evolving into a game of science and technology policies.Since the reform and opening up,the Chinese government has attached great importance to the role of technological innovation in promoting and guiding economic growth and constantly introduced and adjusted relevant fiscal and taxation incentive policies.At present,China's innovation manpower and capital input rank first and second respectively in the world.The scale of innovation output is expanding day by day.However,compared with innovation-oriented countries,China still lags far behind in terms of the quality of knowledge production and the conversion efficiency of innovation achievements.In addition,China's economy has entered the new normal.Innovation-driven development has become the only way for power transformation.How to make full use of fiscal and taxation policies to encourage enterprises to carry out innovative research and development,strengthen the transformation of innovative achievements,expand the industrial production of innovative products,enhance enterprises' independent innovation ability,and enhance the national core competitiveness has become an urgent problem to be solved.This paper follows the general idea of "Theoretical Analysis-Realistic Analysis-Empirical Analysis-Problem Discovery-Suggestions".The ways of literature analysis,theoretical analysis,empirical analysis and comparative analysis are adopted to study the impact of fiscal and tax incentive policies on technological innovation of enterprises from three aspects of theoretical analysis,realistic analysis and empirical analysis.This paper tries to test the theory with reality,explore the internal mechanism of fiscal and tax incentive policies affecting technological innovation of enterprises,and put forward suggestions on improving relevant fiscal and tax policies in view of existing problems,so as to give full play to the guiding role and incentive effect of policies and practically improve the technological innovation ability of enterprises.The theoretical analysis includes the basic connotation,motivation analysis and effect analysis.Firstly,the core concepts of technological innovation,fiscal and tax incentive policies are defined.Secondly,according to the Innovation Theory,Externality Theory and Agency Theory,the motivation of fiscal and tax policies to stimulate enterprises' technological innovation is analyzed.At the same time,the investment effect,internalization of spillover effect,threshold effect and consumption effect of fiscal and tax policies on technological innovation of enterprises are analyzed.The realistic analysis includes the current policies analysis and the effect analysis.Firstly,according to the main tasks and characteristics of the research and development stage,achievement transformation stage and industrial production stage,the applicable fiscal and tax policies of each stage are elaborated.Secondly,the current fiscal subsidies,tax incentives and government procurement policies are analyzed.At last,the paper analyzes the effects of fiscal and tax incentive policies on technological innovation of Chinese enterprises from three stages by using the indicators such as R&D expenditure,the number of accepting and authorizing three patent applications,and the sales revenue of new products,and then makes a horizontal comparison with innovative countries such as the United States,South Korea and Japan.The empirical analysis includes the analysis of the influence of fiscal subsidies and tax incentives on the whole process of innovation.This paper selects relevant data of industrial enterprises above the provincial level from 2011 to 2016 in China,and uses the threshold panel model to analyze the spillover effect and the threshold effect.Based on the above analysis,the paper points out the problems in the fiscal and tax policies of science and technology.Finally,according to the actual situation,this paper puts forward some suggestions and measures on the rational use of appropriate fiscal and tax policies in different stages and the improvement of fiscal subsidies,tax preferences and government procurement policies.The innovation of this paper lies in comprehensively analyze the threshold effect and spillover effect of fiscal and tax policies on technological innovation in three stages by using the threshold panel data model,and explain how to make better use of existing policies in different stages.However,the research of this paper is mainly based on the macro level,and the main deficiency of this paper is the lack of thinking and analysis on the micro-subject behavior of enterprises,which is expected to be supplemented in the future research.