Impact Of Enterprise Pension Insurance Payment On Enterprise Innovation R&D Investment

The current basic social pension insurance contributions in China are borne by the government,enterprises and individuals in proportion.As a necessary expenditure of the enterprise.The actual payment of enterprise pension insurance has a very important impact on total financial plans,consumption savings,employment,R&D and so on.At present,China vigorously advocates the development of the real economy and continuously emphasizes corporate R&D and innovation.However,the current lack of investment in R&D has become one of the problems that hinder the innovation of Chinese companies.Therefore,the specific impact of the pension insurance payment system and the actual payment rate on corporate innovation and R&D investment is worth discussing..Enterprise innovation R&D investment is an important indicator representing the innovation ability and willingness of the enterprise.This article chooses to study the impact of the enterprise's actual pension insurance contribution rate on the proportion of R&D investment to help the government further rationally reform the pension insurance payment policy considering the background of increasing aging problem.It provides a practical and feasible solution to meet the "dilemma" problem of people's pension security and promoting enterprise innovation and development.One of the research objects of this article,the actual pension insurance payment rate of the company is quite different from the statutory pension insurance payment rate prescribed by the government.It is determined by the statutory pension insurance payment rate and the payment base.The payment base is determined by the enterprise based on the previous year.Employees can choose between 60%and 300%of their average salary performance.The actual pension insurance contribution rate of each enterprise is different,and the impact on corporate R&D innovation is also different.Therefore,this article starts from the actual contribution rate to study its impact on enterprise R&D investment.This article first introduces the topic selection background,research significance,research methods,and innovations and shortcomings,then analyzes the internal and external factors that affect the company's innovation and R&D investment,and makes a theoretical explanation for the empirical choice of control variables,then explains China's current pension insurance system and sorts them out,while choosing the foreign pension insurance systems for comparison,which provides a background and theoretical basis for the suggestions made after the empirical analysis.Secondly,from the perspective of marginal cost and marginal benefit,the mechanism of pension insurance contribution rate to corporate R&D investment is analyzed.Two hypotheses about the core issues of this paper are proposed,and the company's data from 2016 to 2018 is used to do the empirical research.A multi-dimensional panel regression analysis of the impact of corporate R&D investment was conducted.Due to certain endogenous problems between the actual pension insurance contribution rate and the company 's R&D investment,quasi-natural experiments were used to solve this problem.Data for test are collected manully from the social security bureau websites and Baidu.The data of the prescribed pension insurance contribution rate have been tested for endogeneity problem and other tests to increase the credibility of the research results in this article.The empirical results show that lowering the enterprise's actual pension insurance contribution rate can prompt enterprises to increase R&D investment,and this effect is more significant in the low average wage group.Finally,based on the results of this analysis,some policy recommendations were put forward in line with China's national conditions.