The Impact Of Tax Burden On Different Types Innovation Of Enterprises

The R&D innovation of enterprises is the source of economic growth.In the government work report of 2019,China also mentioned that "we should adhere to innovation to lead development and foster new growth drivers".In recent years,many enterprises in China have made breakthroughs in the field of technological innovation,but there is still a gap between them on the input-output efficiency of developed countries.Therefore,in the current critical period of China's economic transformation to high quality,the role of encouraging more enterprises to form R&D innovation capacity is important.Obviously,which is formed by the tax burden is an important constraint of enterprise innovation,the enterprise surplus income and cost of spending cuts,which affects the enterprise innovation behavior,therefore our country also issued a series of macroeconomic policies to reduce the tax burden of enterprise,try to use tax policy to inspire innovation vitality of the enterprise.In the context of this reality,from the micro perspective of enterprise,this thesis analyses the impact of tax burden on different types of R&D innovation,tries to explore how the tax burden through the enterprise's internal behavior on the enterprise's R&D innovation,and what is the difference between these effects under different resource endowments.First of all,this thesis sorted out the relationship between tax and innovation through the review of theory and literature.Most of the literature believed that the increase of tax burden resulted in the decrease of cash flow and retained earnings of enterprises,which led to the decrease of investment in innovation and led to the inhibition of R&D innovation activities.This mechanism has been fully support by empirical basis of literature,so this article is to explore another reason which was put forward by literature,but due to data availability has not been fully validated: when the outside of the tax burden is heavier,there are tax space environment at the same time,entrepreneurs may be in pursuit of the maximization of total revenue transfers energy from R&D innovation activities to tax avoidance activities,leading to the decrease of enterprise's innovation.In addition,under different financing constraints,the impact of tax burden on innovation may be different.This thesis also examines the impact of tax burden on innovation through empirical analysis,and preliminarily shows the negative correlation between tax burden and innovation by enumerating the basic characteristics of tax burden and innovation.By building regression model,then found that under the condition of invariable in the control of other factors,For every 1 percentage point increase in the tax liability rate of enterprises,the R&D intensity of enterprises will be reduced by about 0.11 percentage points,the number of patents will drop by about 0.4%,and the proportion of new product sales will drop by 0.17 percentage points,which will reduce the probability ratio of product innovation by about 3.1% and the probability ratio of process innovation by about 3.3%.The impact of tax burden on R&D innovation of different types of enterprises is different,and the R&D innovation behavior of small enterprises,non-export enterprises and private enterprises is more susceptible to the impact when the tax burden increases.Thirdly,the influence path model is constructed.The mediating effect indicates that one of the influence ways of taxburden inhibiting R&D innovation is to squeeze out the R&D innovation behavior of entrepreneurs.The moderating effect indicates that the higher the financing constraint level is,the more negative impact of tax burden on R&D innovation of enterprises will be.The robustness test is carried out by the data of regional average tax burden.To sum up,the Suggestions of this thesis are as follows: 1.Actively respond to and implement the current tax reduction and fee reduction policies,and continue to promote and expand the tax reform of "replacing business tax with value-added tax";2.Second,improve the current capital market to ensure the smooth external financing channels;Third,improve the business environment of enterprises and improve the fairness of tax collection and administration.