摘要
文章以首次获得高新技术企业认定的A股上市公司为研究对象,使用断点回归方法研究高新技术企业认定对企业创新和财务绩效的影响。研究发现,高新技术企业认定能迅速激励企业的研发创新,但获得认定对企业财务绩效影响并不显著。文章进一步按最终控制人性质、企业规模和企业所在区域对样本进行差异化分析,发现该政策对民营企业、大型企业和东部企业创新的影响较为显著。研究结果表明:高新技术企业认定具有提升企业创新能力的作用,政府应当扩大国家重点支持的高新技术领域范围,同时进一步完善高新技术企业认定标准,提高认定含金量。有鉴于高新技术企业认定对企业财务绩效的提升并不显著,政府可考虑进一步降低高新技术企业税负,让企业获得更多的政策红利;民营企业获得高新技术企业认定的激励效果更加显著。当前国家科技政策应更注重激励的效果,坚持所有制中性原则,推动企业研发创新和发展。
In this paper, the A-share listed companies that were recognized as hi-tech enterprises for the first time in 2008 were taken as the research objects, and the influence of hi-tech enterprises recognition on enterprise’s innovation and financial performance was studied by using Regression Discontinuity Design(RDD). The research found that:(1) hi-tech enterprise identification can quickly stimulate enterprise R&D innovation, but the impact of obtaining the recognition on enterprise financial performance is not significant;(2) this paper further differentiated the samples according to the nature of the final controller, the size of the enterprise and the region where the enterprise is located, and found that the policy had a significant impact on the innovation of private enterprises, large enterprises and eastern enterprises. The research results of this paper show that the recognition of hi-tech enterprises plays a role in enhancing the innovation ability of enterprises, and the scope of high-tech fields supported by the state should be expanded. The recognition of hi-tech enterprises does not significantly improve the financial performance of enterprises. The government can consider further reducing the tax burden of hi-tech enterprises, so that enterprises can obtain more policy dividends. The incentive effect of private enterprises to obtain hi-tech enterprises is more significant, the current national science and technology policy incentive should pay more attention to the effect of incentive, the implementation of ownership neutral policy, science and technology innovation competition.
作者
徐晔
蔡奇翰
Xu Ye;Cai Qihan(School of Economics,Fudan University,Shanghai 200433,China)
出处
《复旦学报（社会科学版）》
CSSCI
北大核心
2019年第6期139-150,共12页
Fudan Journal（Social Sciences）
关键词
高新技术企业认定
创新
财务绩效
断点回归
建议
the recognition of hi-tech enterprises
innovation
financial performance
RDD
advice
