Valuation of the Effect of R&D Cost Deduction on Innovation Investment in Manufacturing Enterprise——Empirical Testing Based on the DID Model
To encourage innovative development of enterprises,the government has increased the amount and scope of additional deductions for research and development expenses.To accurately evaluate the effectiveness of policy implementation,it is necessary to consider not only the impact of policies on innovation investment,but also the heterogeneity generated by different types,properties,and regions.Taking manufacturing listed companies from 2012 to 2022 as the research object,the DID method was used to evaluate the impact of R&D expense deduction policy on innovation invest-ment of manufacturing enterprises before and after implementation.From the perspective of imple-mentation effectiveness,The policy of adding and deducting research and development expenses has promoted innovation investment in manufacturing enterprises by alleviating financing constraints.Further research has found that:There is significant heterogeneity in the implementation effect,with the most significant effects on the eastern region,state-owned manufacturing enterprises,non high-tech and low development capacity manufacturing enterprises,and innovation investment imple-mentation.However,the effectiveness of innovation investment in western regions,non-state-owned manufacturing,high-tech and high development capacity manufacturing enterprises is not satisfacto-ry.This study proposes countermeasures and suggestions to effectively help manufacturing enterpris-es transform and upgrade,and better achieve the goal of policy assistance to alleviate difficulties.
R&D expenses plus deductionsManufacturing enterprisesInnovation investment
NETL
NSTL
万方数据
