Research On The Effect Of Tax Rate Reduction On The Incentive Effect Of Enterprise Dual Innovation

Due to the externality and risk of innovation investment,the innovation power of enterprises is weak.In order to achieve a balanced social development,governments adopt many tax incentives and fiscal policies to stimulate innovation activities.The tax incentives mainly include tax reduction,tax reduction,and tax base adjustment.Research on the incentive effects of existing policies has emerged,and it is controversial whether the reduction of tax rates can effectively stimulate enterprise innovation.This study starts from the controversy,explores the mechanisms and conditions for the incentive effect,and attempts to explore the impact of reducing the tax rate on the dual innovation.First of all,from the perspective of the tax shields that few companies are concerned about,consider the impact of the existing debt tax shield level on the incentive effect;on this basis,further consider not only affecting corporate debt levels,but also affecting enterprise innovation decisions.The impact of the life cycle on the incentive effect.After studying the influence of the characteristics of these two enterprises on the incentive effect,we consider that in addition to the special market legal environment in China,the external legal factors of the external factors of the enterprise and the government pressure will adjust the incentive effect of reducing the tax rate.Through research,I hope to clarify the effective incentive effect of reducing the tax rate under what internal and external conditions,and what kind of incentive effect on dual innovation.Using the method of empirical research,the 2008 income tax reform is a natural experimental sample,and each factor is tested as a regulatory variable to observe the four adjustment variables of tax rate and tax shield utilization degree,life cycle,legalization level,and local government economic pressure.The impact on innovation investment and dual innovation investment.The final result shows that the degree of utilization of the debt tax shield will weaken the incentive effect of reducing the tax rate on innovation investment,and has no significant impact on the dual innovation;the promotion of the enterprise life cycle will inhibit the incentive effect of reducing the tax rate on innovation investment and the suppression of exploratory innovation.The effect is stronger than the inhibition of developmental innovation;the level of legalization will strengthen the incentive effect of reducing the tax rate on innovation investment,the promotion of exploratory innovation is stronger than the promotion of developmental innovation;the local government economic pressure will inhibit the reduction of tax rate The incentive effect of innovation investment has a significant inhibitory effect on exploratory innovation and has no impact on developmental innovation.