本文關(guān)鍵詞：我國創(chuàng)業(yè)板企業(yè)研發(fā)投入的稅收優(yōu)惠政策效應(yīng)研究　出處：《華南理工大學(xué)》2014年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 研發(fā)投入 稅收優(yōu)惠 融資約束

【摘要】：目前，國內(nèi)外學(xué)術(shù)界關(guān)于企業(yè)研發(fā)投入的研究不計其數(shù)，研究的影響因素包括企業(yè)自身內(nèi)部的公司規(guī)模、治理結(jié)構(gòu)、高管特征、管理層激勵，及企業(yè)外部環(huán)境所面臨的融資約束、政府政策、產(chǎn)權(quán)保護(hù)、需求波動等。但大多數(shù)研究關(guān)注的僅僅是一種影響因素對企業(yè)研發(fā)投入的效應(yīng)，并且研究關(guān)注的層面多為宏觀層面。然而企業(yè)所處的市場經(jīng)濟(jì)環(huán)境是復(fù)雜多變的，影響企業(yè)研發(fā)投入的因素也不是單個因素，因此本文的研究在結(jié)合了融資約束的條件下，觀察政府所采取的稅收優(yōu)惠政策對創(chuàng)業(yè)板上市公司研發(fā)投入究竟會帶來怎樣的影響。不僅從現(xiàn)實角度回答了政府應(yīng)該合理制定稅收優(yōu)惠政策來促進(jìn)企業(yè)有效管理研發(fā)資金的問題，而且為中小型企業(yè)在面臨融資約束狀況時應(yīng)該采取何種研發(fā)策略提供了經(jīng)驗依據(jù)。 本文通過采用理論分析與實證分析相結(jié)合的方法，對在融資約束背景下稅收優(yōu)惠政策對創(chuàng)業(yè)板上市公司的影響效應(yīng)進(jìn)行了研究。文章首先對我國企業(yè)研發(fā)活動及其稅收優(yōu)惠政策的現(xiàn)狀進(jìn)行了相關(guān)介紹，其次對與企業(yè)稅收優(yōu)惠及融資約束的市場失靈理論、融資約束理論及相關(guān)文獻(xiàn)進(jìn)行了梳理和分析，為實證分析提供理論依據(jù)，，在此基礎(chǔ)上提出了三個研究假設(shè)。最后以2010-2012年176家創(chuàng)業(yè)板上市公司作為研究樣本，以Logistic方程構(gòu)造衡量融資約束的指數(shù)，再通過描述性分析、相關(guān)性及回歸分析驗證了本文的研究假設(shè)，并進(jìn)行了穩(wěn)健性分析，以保證研究結(jié)果的可靠性。 本文得出的主要研究結(jié)論包括： （1）在融資約束強(qiáng)的情況下，所得稅稅收優(yōu)惠對企業(yè)研發(fā)投入具有誘導(dǎo)作用，即所得稅稅收優(yōu)惠會增加企業(yè)的研發(fā)投入。 （2）在融資約束強(qiáng)的情況下，所得稅優(yōu)惠額與企業(yè)研發(fā)投入顯著正相關(guān)。 （3）無論融資約束強(qiáng)弱，實際所得稅稅率較實際流轉(zhuǎn)稅稅率對企業(yè)研發(fā)投入的誘導(dǎo)作用更加顯著。 本文細(xì)化了影響企業(yè)研發(fā)投入的相關(guān)因素，為政府如何根據(jù)企業(yè)自身的融資約束程度大小選擇相應(yīng)的稅收優(yōu)惠政策以解決企業(yè)研發(fā)投資的融資束縛問題提供了有一定參考價值的解決方案，對于完善研發(fā)投資資源配置也有一定的理論及現(xiàn)實意義。
[Abstract]:At present, the domestic and foreign academic circles about the enterprise research and development investment research countless, the research influence factor includes the enterprise own internal company scale, the governance structure, the senior management characteristic, the management incentive. And the external environment of enterprises facing financing constraints, government policies, property rights protection, demand fluctuations and so on. But most of the research only focuses on the impact of a factor on the enterprise R & D investment effect. However, the market economy environment of enterprises is complex and changeable, and the factors that affect R & D investment are not a single factor. Therefore, the study of this paper combines the financing constraints under the conditions. To observe the influence of the tax preferential policy adopted by the government on the research and development investment of the listed companies on the gem. It not only answers the question from the realistic point of view that the government should reasonably formulate the preferential tax policy to promote the effective management of the enterprises. The question of R & D funding. It also provides empirical evidence for SMEs to adopt R & D strategies in the face of financing constraints. This paper adopts the method of combining theoretical analysis with empirical analysis. This paper studies the effect of tax preferential policies on gem listed companies under the background of financing constraints. Firstly, this paper introduces the current situation of R & D activities and tax preferential policies of Chinese enterprises. Secondly, the market failure theory, financing constraint theory and related literature are analyzed and analyzed to provide theoretical basis for empirical analysis. Finally, 176 gem listed companies from 2010 to 2012 are taken as the research samples, and the index of financing constraints is constructed by Logistic equation. The research hypothesis is verified by descriptive analysis, correlation and regression analysis, and robust analysis is carried out to ensure the reliability of the research results. The main conclusions of this paper include: 1) in the case of strong financing constraints, the income tax preference can induce the enterprise R & D investment, that is, the income tax tax preference will increase the R & D investment of the enterprise. 2) in the case of strong financing constraints, the amount of income tax preference is significantly positively correlated with R & D investment. 3) in spite of the strong or weak financial constraints, the actual income tax rate is more significant than the actual turnover tax rate in inducing R & D investment of enterprises. This paper details the related factors that affect the R & D investment of enterprises. It provides a valuable solution for the government to choose the appropriate tax preferential policies according to the degree of financing constraints of enterprises to solve the financing constraints of enterprise R & D investment. For improving the allocation of R & D investment resources, there are certain theoretical and practical significance.
【學(xué)位授予單位】：華南理工大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F273.1;F812.42;F832.51

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