A Study On The Influence Of Extra Deduction For R&D Expense On Enterprise Performance In Small And Medium-sized Technologybased Enterprises

Tax preference refers to a special preferential provision encouraged by the tax law of our country through some taxation objects meeting the set conditions.Different types of tax incentives have different effects on business performance and different approaches.In China's corporate income tax,the preferential tax policy of deducting R&D expenses for R&D projects has been implemented for more than 20 years,which plays a direct role in promoting the implementation of innovation-driven strategy for enterprise development.Small and medium-size enterprise,especially technologybased small and medium-size enterprise,play a special and important role in economic and social development and national innovation-driven strategy.Claim additional deduction,therefore,further study on R&D preferential policy impact on the performance of technology-based small and medium-size enterprise not only helps further claim additional deduction play to research the effect of preferential tax policy to promote innovation-driven strategy implementation,but also help to perfect our relevant preferential tax policy comprehensively promote the realization of the role of tax in modern economic system.In this paper,on the basis of literature review,theoretical analysis and current situation analysis,in order to better clarify the impact of additional deduction of R&D expenses on enterprise performance.Selecting 284 technology companies listed on the growth enterprise market,selected from 2014 to 2018 for five consecutive years of data as the empirical sample,also eliminated some data disclosed incomplete company as well as six big industry additional deduction is not in conformity with the R&D industry policy,at the same time using Stata measuring software,the strength of the claim additional deduction will research and development expenses as explanatory variables in the empirical,to study the explanatory variables affect to the business performance of listed companies the gem.By collating the development costs for the company listed on the gem after claim additional deduction and the status quo,selected the total assets,net operating cash flow,total asset turnover claim additional deduction,asset-liability ratio,the total amount of intangible assets,and whether the policy change as control variable,which constitutes the panel data model to empirical.It has been verified that the tax policy of R&D expense plus deduction has indeed played a positive role in promoting enterprise performance,which is conducive to the improvement of enterprise performance.Among the control variables,the relationship between assetliability ratio factor and performance is significantly negative,while the other factors have a consistent impact on enterprise performance,all of which are positive promotion,but there is a slight difference in degree,only the enterprise size,intangible assets and the significance level of additional deduction policy changes is between 1% and 5%.Also,claim additional deduction in the process of research found that the policy in a lot of problems in the process of implementing,for example,all of small and mid-sized enterprise is not using the claim additional deduction in the policy and to increase the proportion of such issues.Therefore,the deepening communication between the government and enterprises,the continuous improvement and optimization of policies,and the active response of enterprises to the relevant national policies to carry out research and development activities are the keys to better use of the preferential policy of extra tax deduction for research and development expenses,and to promote the development of technology-based enterprises.