Fiscal And Tax Subsidies,CEO Rights And Corporate Innovation

In recent years,during the development of world economic integration,information technology is also booming,which has also promoted countries to compete to make their own characteristics in the field of technological innovation.GEM enterprises have played a huge role in China's economic development,and have strongly promoted the progress of China's technological innovation.However,they have been constrained by funds during the expansion of their operations and restricted their innovation.The fiscal and tax subsidies provided by the government include two categories of fiscal subsidies and tax incentives.These two categories incentivize enterprises to some extent.However,in reality,companies have abused the fiscal and tax subsidies provided by the government,and even cheated them in deceiving ways.To seek their own interests,how to ensure that the fiscal and tax subsidies provided by the government are used for corporate innovation? The CEO is the core figure of the company's entire management team.He has the power to decide the company's decisions,but at the same time he is an opportunist.He is very susceptible to his own preference.Take advantage of the high powers granted by positions? Should these abuses be suppressed or promoted? Based on these contents,this paper researched.This article explores the impact on corporate innovation based on two categories of fiscal and tax subsidies.Both will have a certain impact on corporate innovation,but there are differences in the application and incentives of the two.Fiscal subsidies are more transparent and the approval process is more complicated.It can be used regardless of whether the tax liability occurs,and the tax benefits are relatively hidden and easy to obtain,and can only be used if the tax liability occurs.This paper summarizes and analyzes domestic related literature and theories on fiscal subsidies and corporate innovation,and proposes the following hypotheses: fiscal subsidies have an incentive effect on corporate innovation;comparison of fiscal subsidies and tax incentives on corporate innovation incentives;CEO power on fiscal and tax subsidies The relationship with corporate innovation plays a negative regulating role.In the empirical research,two categories of fiscal subsidy and tax incentives are selected,and CEO power is used as the adjustment variable.Enterprise size,asset-liability ratio,return on investment,and total return on assets are selected as control variables to construct the index system and evaluation model.This article selects the data of GEM listed companies from 2015 to 2017 as the research sample,uses stata15 software to perform descriptive statistics and correlation analysis on the variables in the model,and then performs multiple linear regression to obtain the correlation between fiscal and tax subsidies and corporate innovation.The Moderating Effect of CEO Power on the Relationship between Fiscal and Tax Subsidies and Enterprise Innovation.Through empirical research,the following conclusions are obtained: fiscal and tax subsidies have an incentive effect on corporate innovation;fiscal subsidies have a greater incentive effect on corporate innovation than tax incentives;the role of CEO power in regulating financial subsidies and corporate innovation is not obvious;The relationship between preferences and corporate innovation plays a negative regulating role.The innovations of this article are:(1)the research on the impact of two categories of financial and tax subsidies on corporate innovation is novel in terms of research;(2)the research in the previous literature on these two policies has an incentive effect on corporate innovation,but has not studied The comparison of the two's incentives for corporate innovation;(3)The role of CEO power in regulating the relationship between fiscal and tax subsidies and corporate innovation is explored.The research in this article provides a new perspective for understanding the influencing factors of GEM enterprise innovation,and puts forward policy recommendations for both enterprises and governments.