Can the Reinforcement Additional Deduction Policy Promote the Intelligent Transformation of the Manufacturing Industry?:Analysis of the Intermediary Effect of R&D Investment
By selecting panel data of manufacturing enterprises listed on the Shanghai A-share market from 2018 to 2021 as samples for analysis and research,the impact of strengthened R&D expense deduction policies and increased R&D investment on the intelligent transformation and upgrading of manufacturing enterprises was empirically tested.The results show that the strengthening of the policy of adding and deducting R&D expenses has promoted an increase in R&D investment,thereby promoting the intelligent transformation of manufacturing enterprises.The strengthening of the policy of adding and deducting R&D expenses completely achieves the intelligent transformation of manufacturing industry through the increase of R&D investment,and R&D investment plays a complete intermediary role.Through further research,it is found that the preferential policy of deducting R&D expenses has a more significant incentive effect on equipment manufacturing enterprises and manufacturing enterprises in provincial and sub provincial cities,which further promotes their intelligent transformation and upgrading.
reinforcement of additional deductionsR&D investmentmanufacturing intelligent transformationmesomeric effect
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