摘要
本文以2005~2016年深沪A股的上市企业为样本,采用多时点双重差分模型和倾向得分匹配方法实证分析“营改增”政策对企业创新的影响。研究发现:“营改增”政策显著提升企业创新水平,且经过一系列稳健性检验后该结论仍然成立;“营改增”政策对企业创新的影响具有一定的滞后性,且影响效应因企业不同的控股性质、规模及区域经济发展程度而存在异质性,“营改增”政策更有利于促进民营控股企业、小规模企业和经济欠发达地区企业创新水平的提高;通过对“营改增”政策影响企业创新的机制检验,发现企业税负、政府补助和专业化分工是“营改增”政策影响企业创新的中介变量。
Based on the sample of A⁃Share listed companies in Shenzhen and Shanghai from 2005 to 2016,this paper uses multi⁃point dual difference model and tendency score matching method to analyze the impact of“Business Tax Replaced with VAT”on enterprise innova⁃tion.It is found that“Business Tax Replaced with VAT”significantly improves the innovation level of enterprises,and the conclusion is still tenable after a series of robustness tests;“Bus⁃iness Tax Replaced with VAT”has a certain lag in the impact of enterprise innovation,and the impact effect is heterogeneous due to the different holding nature,scale and regional eco⁃nomic development degree of enterprises,which is more conducive to promoting private hold⁃ing enterprises and small⁃scale enterprises and the improvement of the innovation level of the enterprises in the underdeveloped areas;through the mechanism test of“Business Tax Re⁃placed with VAT”to affect enterprise innovation,it is found that enterprise tax burden,gov⁃ernment subsidy and specialized division of labor are the intermediary variables of“Business Tax Replaced with VAT”to affect enterprise innovation.
作者
周云蕾
李光龙
李胜胜
Zhou Yunlei;Li Guanglong;Li Shengsheng(Institute of Finance and Public Management,Anhui University of Finance and Economics,Bengbu 233030,China;School of Economics,Anhui University,Hefei 230601,China;Anhui Research Center for Ecology and Economic Development,Hefei 230601,China)
出处
《数量经济研究》
2021年第3期150-170,共21页
The Journal of Quantitative Economics
基金
安徽省社科规划重点项目“安徽经济高质量发展的财政支持体系优化研究”(AHSKZ2019D018)
安徽生态与经济发展研究中心课题“中国绿色发展的环境规制效应研究”(AHST2019011)的联合资助。
关键词
减税降费
企业创新
“营改增”
PSM⁃DID
Reduce Taxes and Fees
Enterprise Innovation
“Business Tax Replaced with VAT”
PSM⁃DID
