| On the one hand,with China's economic growth slowing down and per capita GDP reaching the $10,000 threshold,China's economy has entered the "new normal"stage of medium-speed from high-speed growth.On the other hand,the "Trade War"between China and the United States has evolved into the "Tech War".The United States' suppression of China's high-tech enterprises shows that the competition for world dominance of technology and economy has become increasingly fierce.In this context,only by vigorously developing science and technology and improving the level of innovation can China find new domestic economic growth points and have a voice in the international economic order.This task is mainly undertaken by the Strategic Emerging Industries which have high-tech level and great potential for economic growth.Therefore,the Strategic Emerging Industries play an important leading role for China's long-term development of economy and society.Especially,"Innovation" is the fundamental attribute and important guarantee for the Strategic Emerging Industries,so how to effectively improve the innovation ability of enterprises and enhance the scientific and technological level of society should be a thorough consideration of the government and businesses.Among the various macro-control means of the government,Tax Policy has a significant impact on the growth and development of micro-enterprises.Therefore,this paper chooses the data of strategic emerging industrial listed corporations as samples,and uses the test method of Mediating Effect to study the impact mechanism of Tax Incentives and Innovation Ability on the Enterprise Growth,in order to provide the latest empirical data and experiences for the government,enterprises and relevant scholars.The first part of this paper elaborates the background and meaning of the paper,especially the theoretical and practical significance of the analysis,and expounds related basic conceptions,research methods and contents,and also points out the creative points and shortcomings of this study.The second part is literature review.Since there are few literature studied the relationship between the three factors:Tax Incentives,Innovation Ability and Enterprise Growth,this paper reviews the relationship between two variables and the research methods as well as data types used in the classical literatures,and lays a foundation for variables design and model construction in the following chapters.The third part studys the mechanism of Tax Incentive,Innovation Ability and Enterprise Growth from the theoretical point of view,and finds the economic reasons for the interaction of the three variables.In the fourth part,at first the paper elaborates the research methods and medi-effect testing procedures,then explains the sample selection and data sources of this paper,and focuses on the design method of Enterprise Growth,the explanatory variable.After the model is built,the relationship between three factors is tested by the fixed effect model.Taking into account the endogenous relationship between Innovation Ability and Enterprise Growth,the third model is regressed by the GMM/IV method.And then confirms the mediating effect of Innovation Ability on Tax Incentive towards Enterprise Growth.The fifth part refines the conclusions of this paper,and puts forward relevant advices for the government's tax policy on strategic emerging industries and related enterprises to improve their innovation abilities.The empirical results of this paper shows that,for strategic emerging industries,"innovation" is the fundamental driving force and important guarantee for their survival and development,and the promotion of innovation ability can significantly promote the growth and development of enterprises.The government's tax incentive policy can significantly promote the growth of enterprises,and this promotion effect is entirely through improving the innovation ability.Innovation Ability plays a significant mediating role between Tax Incentive and Enterprise Growth. |
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