| Scientific and technological innovation is an important engine for economic growth and structural transformation.The General Secretary stated in the Communist Party’s 20 the National Congress: "We need to speed up the implementation of innovation-oriented development strategy and speed up the process of achieving high level self-reliance and self-improvement in science and technology." "Enterprises are the main body of scientific and technological innovation,and improving their technological innovation capabilities is an important driving force to accelerate the construction of an innovative country." However,due to the long cycle and high risk of R&D and innovation activities,the benefits they create for enterprises will have a large spillover effect.In2018,in order to increase the enthusiasm of enterprises for innovation,the government promulgated Cai Shui [2018] No.99,extension of the75% surcharge on research and development expenditure,from technology-oriented SMEs to all enterprises with the exception of negative list industries;In 2021,the Commission will continue to support business innovation and address the negative effects on the real economy of the new koruna epidemic.the government promulgated Cai Shui [2021] No.13,which stipulates that China’s manufacturing enterprises enjoy a 100% super-deduction for R&D expenses.Therefore,this paper will take the change of super-deduction ratio as the starting point under the background of the above policy changes,aiming to study the impact of the policy changes of super-deduction of R&D expenses on the innovation performance of pharmaceutical high-tech enterprises,which is of great significance for improving the innovation efficiency of enterprises and further improving the preferential tax policies.On the basis of Schumpeter’s innovation theory,internal growth theory and tax incentive theory,this paper reviews the application of super-deduction policy in enterprises,the impact of super-deduction policy on enterprise innovation and related research on innovation performance.Firstly,the application of the super-deduction policy was introduced from the industry level and the existing problems were analyzed.Secondly,China Resources San jiu was selected as a case study object,and based on the data from 2014 to 2021,the changes in innovation input and output of CR San jiu before and after the change of the super-deduction policy were analyzed.Finally,from the non-financial level,the indicators such as technological progress and the introduction of professional and technical talents are selected,and the indicators such as innovation achievements,innovation profit creation and innovation cost reduction are selected from the financial level,and the case companies and industries are dynamically compared vertically and horizontally,and the impact of superdeduction policy changes on innovation performance is analyzed.The study concludes that: First,increasing the super-deduction ratio can promote enterprises to increase R&D investment and improve overall innovation performance.Second,the impact of the super-deduction policy change on the innovation performance at the non-financial level and the financial level is different,because of the lag in innovation output and the increase in R&D investment,the innovation performance at the financial level can not be clearly reflected in the short-term.However,after a period of evolution,the performance of innovation at the nonfinancial level and the financial level will converge.At last,according to the above results,the paper proposes some feasible countermeasures and recommendations for the government and the enterprise level. |
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