Tax Reduction and Fee Reduction, R&D Innovation and Financial Performance of High-Tech Enterprises-Test Based on the Difference-in-Differences Model

DOI

10.2991/978-94-6463-030-5_81How to use a DOI?

Keywords

Tax and Fee Cuts; High-tech Enterprises; R&D Investment; Financial Performance; Difference-in-differences Model; Robustness Test

Abstract

As the first of the five new development concepts, innovation is an important underpinning for building a modernized economy. As the leader of innovation-oriented enterprises, high-tech enterprises have great impetus to the national comprehensive innovation capability. Therefore, this paper constructs difference-in-difference model, and adds the robust standard error to study the correlation between tax reduction and fee reduction, R&D innovation and financial performance of high-tech enterprises, and finally carries on the robustness test. The model test results show that: (1) both the policy of increasing the additional deduction ratio of R&D expenses and the preferential policy of low tax rate can significantly improve R&D investment and financial performance of high-tech enterprises, but the latter has a stronger significance; (2) The impact of R&D investment on financial performance has a lag; (3) Compared with the policy of increasing the proportion of additional deduction, R&D investment has a more significant mediating effect on the preferential policy of low tax rate and financial performance.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Baofeng Li
AU  - Chaofan Ding
PY  - 2022
DA  - 2022/12/20
TI  - Tax Reduction and Fee Reduction, R&D Innovation and Financial Performance of High-Tech Enterprises-Test Based on the Difference-in-Differences Model
BT  - Proceedings of the 2022 International Conference on Bigdata Blockchain and Economy Management (ICBBEM 2022)
PB  - Atlantis Press
SP  - 827
EP  - 836
SN  - 2589-4919
UR  - https://doi.org/10.2991/978-94-6463-030-5_81
DO  - 10.2991/978-94-6463-030-5_81
ID  - Li2022
ER  -