| Under the background of "mass entrepreneurship and innovation",innovation-driven economy has become the new engine of China’s economy.A new round of scientific and technological revolution and industrial transformation needs the power of the real economy.And the manufacturing industry which needs to rely on technological innovation to provide new drivers for economic development is the key.The 18 th and the 19 th national congress of the CPC clearly put forward the innovation-driven development strategy,which aims to promote high-quality economic development through technological innovation.Although the innovation activities of Chinese enterprises are constantly increasing,there is still a certain gap between China’s innovation capacity and R&D level compared with the developed countries.In order to improve the innovation ability of enterprises,the state uses tax policy to guide the innovation behavior of enterprises.Whether these tax incentive policies can play an effective role in stimulating is a question.In addition,the unbalanced regional development in China cannot be ignored during the process of developing towards high quality economy.Improving the development of regional innovation ability can narrow regional differences.Different regions have different characteristics,making the external environment of enterprises to be different.Whether the incentive effect of tax incentive policies on the investment in R&D of enterprises which in different regions is different.This question has practical significance.It’s beneficial for the coordinated development of regions and the improvement of the effectiveness and pertinence of tax policies.Based on this background,this paper takes the innovation activities of manufacturing enterprises as the research object.Use the data of listed companies from 2009 to 2017 to build a dynamic panel model and to study the empirical effect of corporate income tax preferential policies on the investment in R&D of enterprises from a regional perspective.The innovation of this paper lies in index selection and research Angle.First of all,this paper uses the user cost of R&D as the index to measure the tax preference.It is a function of tax system,economic variables and the structure of enterprises’ R&D expenditure,reflecting the expected R&D return rate of enterprises under the action of preferential tax policies.Secondly,existing literatures rarely analyze whether tax incentive policies have positive incentive effect on enterprise innovation from the perspective of regional differences.By building dynamic panel model,this paper empirically tests the effect of tax incentive policies on innovation input of regional heterogeneous enterprises,which not only provides empirical evidence for relevant research,but also enriches the research results in this field.The empirical results show that China’s enterprise income tax preferential policies have a significant incentive effect on the R&D investment and R&D investment intensity of manufacturing enterprises in the eastern and central regions,but the incentive effect on enterprises in the western regions is not significant.At the same time,tax incentives also significantly promoted the investment of R&D personnel and R&D personnel intensity of enterprises in the east and central regions,but only effectively stimulated the investment of enterprises in the west region in R&D personnel,and had no significant impact on the investment intensity of R&D personnel.This may be due to the different economic development status of different regions,resulting in different incentive effects of tax incentive policies on enterprises in different regions.Therefore,suggestions are put forward from the aspects of creating an environment to stimulate innovation,constructing a regional tax innovation system,implementing differentiated tax policies and formulating preferential tax policies for manufacturing enterprises’ innovation. |
