Research On The Influence Of Fiscal And Tax Incentive Policies On The Innovative R&D Of Digital Economy Enterprises In Guangdong Province

In the 20th National Congress General Secretary Xi Jinping profoundly put forward that the digital economy is a matter of national development,and that developing digital economy is the best choice to capture new opportunities from technological revolution and industrial change.Therefore,the government has issued package fiscal policies to promote innovation of digital economy enterprises,usually in the form of both direct government subsidies and tax incentives.And whether the currently implemented fiscal incentive policies can really effectively promote innovation and R&D of digital economy enterprises and accelerate the high-quality development of the digital economy,and how to more fully play the innovation incentive effect of fiscal policies,so as to improve the competitiveness of enterprises and the country in the international,which has been a problem to be settled urgently.Guangdong Province,as a large coastal province with a cluster of cities in the Pearl River Delta,has many listed companies,and there has been a high-speed development here,so it is representative to use it as the object of study.This paper firstly summarizes the theories related to fiscal incentive policies and innovation of digital economy enterprises and the different research views of existing scholars,and explores the influence mechanisms of government subsidies and tax incentives on R&D of digital economy enterprises respectively;secondly,it compares the existing government subsidies and tax incentives in China and the current situation of digital economy enterprises in Guangdong Province,based on the theoretical analysis.Fiscal incentive policies have a positive role in promoting innovative R&D of digital economy enterprises,but there may be some problems in the implementation of the policies.This paper takes listed companies in the digital economy of Guangdong Province from 2015 to 2020 as the research object,analyzes the incentive effect of fiscal and tax policies on the innovation R&D of digital economy enterprises in Guangdong Province through a two-way fixed effects model,and analyzes the heterogeneity of this incentive effect from multiple perspectives of property rights and regions,which provides data analysis evidence for related studies and also enriches the research results in this field,and finally proves the conclusions again through lagged explanatory variables and dynamic panel regression robustness tests.The research results show that:(1)on the whole,government subsidies and tax incentives can promote innovative R&D of digital economy enterprises and their own sustainable development,and the incentive effect of government subsidies is more significant;(2)in the heterogeneity analysis,fiscal and tax incentives have positive promotion effects on both state-owned,non-state-owned enterprises and digital economy enterprises in Guangzhou City and Shenzhen City,but for the enterprises in non-Guangzhou and non-Shenzhen regions,only government subsidies have a significant incentive effect on their innovation investment.Finally,this paper puts forward corresponding suggestions from two levels of national government and Guangdong government to develop differentiated fiscal incentive policies,and enterprises fully enjoy the dividends brought by fiscal incentive policies to create a good innovation atmosphere and promote the sustainable development of digital economy enterprises.