Tax Incentives,Human Capital Investment and Firms'Digital Development
The formation of new quality productive forces requires the digital development,and investment in human capital is one of the driving factors of enterprise digitalization.Tax policies to promote human capital accumulation have a rich design,and this study uses the difference in difference method to test how tax incentives for human capital investment affect firms'digital development.The results show that the policy can significantly promote firms'digital transformation and digital technology innovation,and the effect is better among firms with a higher proportion of expenditure on employee education,which are labor-and technology-intensive,with higher levels of human capital,and with a weaker ability to pass on costs and tax burdens.Mechanism tests show that the increase in the proportion of tax credit on firms'on-the-job-training expenses can improve firms'expenditure on employee education by lowering the actual cost of employee education,as well as easing the financing constraints of enterprises,driving digital capital and R&D investment,and thus promoting firms'digital development.Further analysis reveals that the policy strengthens the productivity-enhancing effects of digital development on firms and accelerates the formation of new quality productive forces.This study contributes to the deep analysis of the micro-mechanisms of enterprises'digital development and also provides empirical support for precise tax incentives to stimulate enterprises'digital development and the formation of new quality productive forces.
Tax IncentivesHuman Capital InvestmentDigital TransformationTechnological InnovationNew Quality Productive Forces
NETL
NSTL
万方数据
