Focusing on listed A-share companies in China's western region from 2013 to 2022, this study employs a bidirectional fixed-effect model to empirically analyze the nonlinear relationship be-tween tax refunds and corporate green innovation. The findings reveal an inverted U-shaped relationship between tax refunds and corporate green innovation, indicating that tax refunds effectively stimulate green innovation within a moderate range. Heterogeneous analysis demonstrates that the impact of tax re-funds is significantly greater for companies with low financing constraints and large asset sizes compared to those with high financing constraints and small asset sizes. Moreover, the influence of tax refunds on non-state-owned enterprises is more pronounced compared to that on state-owned ones. The research con-clusions can provide theoretical insights and practical implications for the government in formulating tax refund policies and promoting corporate green innovation.
关键词
税费返还/绿色创新/倒U型关系/西部地区
Key words
tax rebate/green innovation/inverted U-shaped relationship/western region
维普
万方数据