作为目标管理责任制的重要组成部分,财政收入目标增长率是理解我国企业经营绩效和创新水平的重要视角.本文利用 2008-2022 年沪深 A 股非金融类上市公司数据与政府工作报告中财政收入目标增长率数据,实证考察了财政收入增长目标率对企业创新水平的影响.研究发现,财政收入目标增长率显著抑制了企业创新水平提升,这一抑制效应主要集中在财政收支缺口小的地区、中小型企业以及非高新技术企业.进一步的工具变量检验也支持了上述研究结论.机制分析结果表明,财政收入目标增长率通过加强税收征管抑制了企业创新水平提升.本文对理解企业创新行为的影响因素提供了新视角,为提升企业创新水平、加快推进创新驱动发展战略提供了有益参考.
Target Growth Rate of Fiscal Revenue,Tax Collection Efforts and Enterprise Innovation
As an important component of the target management responsibility system,the target growth rate of fiscal rev-enue is an important perspective for assessing the operational performance and innovation level of Chinese enterprises.This ar-ticle empirically examines the impact of the target growth rate of fiscal revenue on the innovation capacity of enterprises,by u-sing the data from non-financial listed companies of the Shanghai and Shenzhen A-shares from 2008 to 2022 and the target growth rate of fiscal revenue in previous work reports of prefecture and above level municipal governments.Research has found that the growth rate of fiscal revenue targets significantly suppresses the improvement of enterprise innovation level.This inhib-itory effect is mainly concentrated in areas with small fiscal revenue and expenditure gaps,small and medium-sized enterpri-ses,and non high-tech enterprises.Further use of instrumental variables for testing also supports the above research conclu-sions.The mechanism analysis results indicate that the target growth rate of fiscal revenue hinders the improvement of enter-prise innovation level by strengthening tax collection and management.This article provides a new perspective on understand-ing the influencing factors of corporate innovation behavior,and provides useful references for improving the innovation capaci-ty of enterprises and accelerating the promotion of innovation-driven development strategies.
Target Growth Rate of Fiscal RevenueEnterprise InnovationTax Collection and ManagementTarget Management Responsibility System
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