Additional Deduction Of R&D Expenses,R&D Manipulation And Enterprise Innovation

With the acceleration of economic globalization,market competition is becoming increasingly fierce.Innovation has become the only way to enhance national competitiveness.In order to reduce the pressure on enterprises and promote their enthusiasm for innovation,China has formulated a series of preferential policies for enterprises.Government subsidies and tax incentives are the two most important and common policies.According to existing studies,tax incentives are more inclusive and fair,and can benefit most enterprises.In the past two decades,as a representative tax preference policy,the R & D expense plus deduction policy has been continuously improved.However,the incentive effect of the R & D expense plus Deduction Policy on enterprise innovation and whether the "pseudo R & D" behavior of some enterprises for the purpose of reducing taxes affects the role of the plus deduction policy remain to be explored.This thesis selects the relevant data of high-tech listed companies in the A-share market from 2015 to 2020 to explore the impact of the R & D expense plus Deduction Policy on enterprise innovation,and to test the regulatory effect of R & D manipulation.Firstly,the enterprise innovation is measured from the two aspects of R & D input and output.The R & D input intensity and the number of patents applied in the current year are used to measure R & D input and output respectively,and the incentive effect of the addition and Deduction Policy on enterprise innovation is analyzed and discussed.Secondly,virtual variables are used to measure R & D manipulation,and how the existence of R & D manipulation can adjust the implementation effect of the add and deduct policy is analyzed and tested.Finally,it analyzes whether there are differences in the incentive effect of the plus and minus policy on enterprise innovation between enterprises with different property rights and different regions.The conclusions are as follows: first,with the support of the R & D expense plus Deduction Policy,the R & D input and output of high-tech enterprises increase correspondingly,that is,the policy is positively correlated with enterprise innovation,and it is significant at the 1% level.Second,R & D manipulation weakens the effect of the policy of adding and deducting on enterprise innovation;At the same time,R & D manipulation also plays a negative regulatory role in the relationship between the addition and Deduction Policy and R & D investment.Third,among enterprises with different property rights,there are obvious differences in the incentive effect of R & D expense plus Deduction Policy.Non-state-owned enterprises have stronger incentive effect,while the incentive effect of state-owned enterprises is not significant.Fourth,compared with non eastern regions,the R & D expense plus deduction policy has a more significant incentive effect on enterprises in the eastern region.