研发税收抵扣的分配机制和政策效果
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摘要
研发税收抵扣政策能够有效降低企业研发成本,提高资金使用效率。现有研究对不同国家或地区的研发税收抵扣政策进行了实证评估,并无一致性结论。我国近年来开始推广研发税收抵扣政策,效果尚不明朗。本研究利用2010-2012年中国上市公司数据,探究税收抵扣的分配机制,评估政策效果。结果表明,上市年限短、高管持股比例高、员工规模大、处于高市场化地区的企业更容易获得政府的研发税收抵扣。整体而言,研发税收抵扣显著提高了企业的研发支出,这一效果在制造业较为显著。但对信息技术和科技服务业并无显著效果。
R&D tax credits can reduce R&D cost of enterprises and improve efficiency of investments. Current literature estimates the effectiveness of R&D tax credit on innovation in different countries or areas and has no consistent answer. China has adopted R&D tax credit in recent years,but the policy effect is still unclear. The research uses the data of China's listed companies from 2010 to 2012,explores the distribution mechanisms of tax credits,and evaluates its effectiveness on R&D investment. The results indicate that firms with short listed age,high autonomy in management,large scale of employees and located in high marketization area have higher probabilities to obtain R&D tax credits. On average,R&D tax credit facilitates firm's R&D investment,and the results are consistent in manufacturing industries. But R&D tax credit has no significant impact on R&D investment in information technology and scientific service industries.
R&D tax credits can reduce R&D cost of enterprises and improve efficiency of investments. Current literature estimates the effectiveness of R&D tax credit on innovation in different countries or areas and has no consistent answer. China has adopted R&D tax credit in recent years,but the policy effect is still unclear. The research uses the data of China's listed companies from 2010 to 2012,explores the distribution mechanisms of tax credits,and evaluates its effectiveness on R&D investment. The results indicate that firms with short listed age,high autonomy in management,large scale of employees and located in high marketization area have higher probabilities to obtain R&D tax credits. On average,R&D tax credit facilitates firm's R&D investment,and the results are consistent in manufacturing industries. But R&D tax credit has no significant impact on R&D investment in information technology and scientific service industries.
引文
[1]Hall,B.H.The financing of research and development[J].Oxford Review of Economic Policy,2002,18(1):35-51.
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[5]Czarnitzki,D.,Hottenrott,H.And Thorwarth,S.Industrial research versus development investment:The implications of financial constraints[J].Cambridge Journal of Economics,2011,35(3):527-544.
[6]Bloom N,Griffith R,Van Reenen J.Do R&D tax credits work?Evidence from a panel of countries 1979-1997[J].Journal of Public Economics,2002,85(1):1-31.
[7]Kasahara H,Shimotsu K,Suzuki M.Does an R&D tax credit affect R&D expenditure?The Japanese R&D tax credit reform in 2003[J].Journal of the Japanese and International Economies,2014,31(March):72-97.
[8]Kobayashi Y.Effect of R&D tax credits for SMEs in Japan:A microeconometric analysis focused on liquidity constraints[J].Small Business Economics,2014,42(2):311-327.
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[12]Yang C H,Huang C H,Hou T C T.Tax incentives and R&D activity:Firm-level evidence from Taiwan[J].Research Policy,2012,41(9):1578-1588.
[13]Mansfield E.The R&D tax credit and other technology policy issues[J].American Economic Review,1986,76(2):190-194.
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[15]Baghana,R.,&Mohnen,P.Effectiveness of R&D tax incentives in small and large enterprises in Que’bec[J].Small Business Economics,2009,33(1):91-107.
[16]Lokshin B,Mohnen P.How effective are level-based R&D tax credits?Evidence from the Netherlands[J].Applied Economics,2012,44(12):1527-1538.
[17]连燕华,于浩,郑奕荣,肖哲雯.研发费用税前扣除优惠政策执行情况研究[J].科研管理,2012,33(12):23-29.Lian YH,Yu H,Zheng YR,Xiao ZW.The implementation status of R&D expenses pre-tax deduction policies[J].Science Research Management,2012,33(12):23-29.
[18]王再进,方衍.企业研发费加计扣除政策实施问题及对策研究[J].科研管理,2013(1):94-98.Wang ZJ,Fang H.The implementation process problems and countermeasures for the pre-tax deduction policy of enterprises R&D expenses[J].Science Research Management,2013(1):94-98.
[19]宋河发,穆荣平,任中保.技术开发费150%税前加计扣除政策落实问题分析与对策研究[J].科学学研究,2009(12):1822-1828.Song HF,Mu RP,Ren ZB.Study on problems of the policy of technology development expenses deduction from the taxable income and its implementation[J].Studies in Science of Science,2009(12):1822-1828.
[20]罗正英,李益娟,常昀.民营企业的股权结构对R&D投资行为的传导效应研究[J].中国软科学,2014(3):167-176.Luo ZY,Li YJ,Chang Y.Study on the conduction effect of private enterprises’stockholder’s rights structure upon R&D investment behavior[J].China Soft Science,2014(3):167-176.
[21]樊纲,王小鲁,朱恒鹏.中国市场化指数:各地区市场化相对进程2011年报告[M].经济科学出版社,2011.Fan G,Wang XL,Zhu HP.Neri index of marketization of China's provinces 2011 report[M].Beijing:Economic Science Press,2011.
[22]郭杰,李涛.中国地方政府间税收竞争研究[J].管理世界,2009(11):54-73.Guo J,Li T.Local governments’tax competition in China[J].Management World,2009(11):54-73.
[23]吴联生.国有股权、税收优惠与公司税负[J].经济研究,2009(10):109-120.Wu LS.State ownership,tax protection,and corporate tax burden[J].Economic Research Journal,2009(10):109-120.
[2]Winston C.Government failure versus market failure:Microeconomics policy research and government performance[M]Washington:Brookings Institution Press,2006.
[3]David P A,Hall B H,Toole A A.Is public R&D a complement or substitute for private R&D?A review of the econometric evidence[J].Research Policy,2000,29(4):497-529.
[4]Hall B,Van Reenen J.,How effective are fiscal incentives for R&D?A review of the evidence[J].Research Policy,2000,29(4):449-469.
[5]Czarnitzki,D.,Hottenrott,H.And Thorwarth,S.Industrial research versus development investment:The implications of financial constraints[J].Cambridge Journal of Economics,2011,35(3):527-544.
[6]Bloom N,Griffith R,Van Reenen J.Do R&D tax credits work?Evidence from a panel of countries 1979-1997[J].Journal of Public Economics,2002,85(1):1-31.
[7]Kasahara H,Shimotsu K,Suzuki M.Does an R&D tax credit affect R&D expenditure?The Japanese R&D tax credit reform in 2003[J].Journal of the Japanese and International Economies,2014,31(March):72-97.
[8]Kobayashi Y.Effect of R&D tax credits for SMEs in Japan:A microeconometric analysis focused on liquidity constraints[J].Small Business Economics,2014,42(2):311-327.
[9]Wu Y.The effects of state R&D tax credits in stimulating private R&D expenditure:A cross-state empirical analysis[J].Journal of Policy Analysis and Management,2006,24(4):785-802.
[10]Wu Y.State R&D tax credits and high-technology establishments[J].Economic Development Quarterly,2008,22(2):136-148.
[11]Haegeland,T.,&Moen,J.Input additionality in the Norwegian R&D tax credit scheme,reports[J].Statistics Norway,2007,47:1-51.
[12]Yang C H,Huang C H,Hou T C T.Tax incentives and R&D activity:Firm-level evidence from Taiwan[J].Research Policy,2012,41(9):1578-1588.
[13]Mansfield E.The R&D tax credit and other technology policy issues[J].American Economic Review,1986,76(2):190-194.
[14]Klette T J,Men J,Griliches Z.Do subsidies to commercial R&D reduce market failures?Microeconometric evaluation studies[J].Research Policy,2000,29(4):471-495.
[15]Baghana,R.,&Mohnen,P.Effectiveness of R&D tax incentives in small and large enterprises in Que’bec[J].Small Business Economics,2009,33(1):91-107.
[16]Lokshin B,Mohnen P.How effective are level-based R&D tax credits?Evidence from the Netherlands[J].Applied Economics,2012,44(12):1527-1538.
[17]连燕华,于浩,郑奕荣,肖哲雯.研发费用税前扣除优惠政策执行情况研究[J].科研管理,2012,33(12):23-29.Lian YH,Yu H,Zheng YR,Xiao ZW.The implementation status of R&D expenses pre-tax deduction policies[J].Science Research Management,2012,33(12):23-29.
[18]王再进,方衍.企业研发费加计扣除政策实施问题及对策研究[J].科研管理,2013(1):94-98.Wang ZJ,Fang H.The implementation process problems and countermeasures for the pre-tax deduction policy of enterprises R&D expenses[J].Science Research Management,2013(1):94-98.
[19]宋河发,穆荣平,任中保.技术开发费150%税前加计扣除政策落实问题分析与对策研究[J].科学学研究,2009(12):1822-1828.Song HF,Mu RP,Ren ZB.Study on problems of the policy of technology development expenses deduction from the taxable income and its implementation[J].Studies in Science of Science,2009(12):1822-1828.
[20]罗正英,李益娟,常昀.民营企业的股权结构对R&D投资行为的传导效应研究[J].中国软科学,2014(3):167-176.Luo ZY,Li YJ,Chang Y.Study on the conduction effect of private enterprises’stockholder’s rights structure upon R&D investment behavior[J].China Soft Science,2014(3):167-176.
[21]樊纲,王小鲁,朱恒鹏.中国市场化指数:各地区市场化相对进程2011年报告[M].经济科学出版社,2011.Fan G,Wang XL,Zhu HP.Neri index of marketization of China's provinces 2011 report[M].Beijing:Economic Science Press,2011.
[22]郭杰,李涛.中国地方政府间税收竞争研究[J].管理世界,2009(11):54-73.Guo J,Li T.Local governments’tax competition in China[J].Management World,2009(11):54-73.
[23]吴联生.国有股权、税收优惠与公司税负[J].经济研究,2009(10):109-120.Wu LS.State ownership,tax protection,and corporate tax burden[J].Economic Research Journal,2009(10):109-120.