Research On The Influence Of Social Insurance Contribution Rate On Enterprise R&D Innovation

Innovation is the primary driving force for development and an important strategic underpinning for building a modernized economy.As the main body of our social insurance,the research and innovation ability of the enterprise is directly related to the vitality and quality of the whole national economy.Only by constantly pushing enterprises to carry out R&D innovation and speeding up the breakthrough of core technologies in key fields,can enterprises change their growth drivers and realize transformation and upgrading.However,for a long time,the high social insurance contribution has become a heavy burden for enterprises.Therefore,the government began to introduce corresponding policies to reduce taxes and fees for enterprises and reduce labor costs,so as to better support their high-quality development.This thesis takes the data of Shanghai and Shenzhen A-share non-financial listed companies as research samples to explore the impact of social insurance contribution rate on enterprise R&D innovation.The results show that the reduction of social insurance contribution rate can significantly improve the R&D and innovation ability of enterprises,and the conclusion is still valid after changing the measurement method of the explained variable and considering the endogeneity problem.Through the intermediary effect model,it is found that the decrease of social insurance contribution rate can promote the R&D innovation of enterprises by increasing the average disposable income of employees,reducing the financing constraints of enterprises and increasing the cash flow.It is further found that the effect of the reduction of social insurance contribution rate on the promotion of enterprise R&D and innovation is more significant in labor-intensive enterprises,state-owned enterprises and large enterprises.Finally,relevant suggestions are put forward from the level of government and enterprises to help the government further promote the reform of tax and fee reduction policy and promote the innovation and development of enterprises under the background of economic downward pressure and increasingly serious aging.