Research on the Impact of Tax Incentives on Innovation Performance of Small and Medium-sized Technology-based Enterprises—Take the R&D Expense Deduction Policy as an Example
In order to explore the impact of tax incentives on the innovation performance of technology-based smes,the data of technology-based smes listed on the New Third Board from 2014 to 2022 was selected as a"quasi-natural experiment"to establish a differed-difference model(DID).It is found that the R&D expense deduction policy has a significant promotion effect on the innovation performance of the firm,and the promotion effect is heterogeneous in the nature of the firm and the region.According to the analysis of the influence mechanism,the increase and deduction of R&D expenses will increase the internal fixed asset investment and the internal financing ability of enterprises,thus promoting the improvement of the innovation performance of enterprises,while the external market environment play a regulating role.Therefore,the research conclusion has certain theoretical value for policy improvement and enterprise management.
Small and Medium-sized Technology-based EnterprisesInnovation PerformanceR&D Expense Deduction PolicyDID Model
NETL
NSTL
万方数据
