上市公司自主创新的国家激励扭曲之困——是政府补贴还是税收递延?  

National incentive distortion problems for supporting indigenous innovation of the listed company——By government subsidy or by tax deferral

作　　者：唐书林[1] 肖振红[1] 苑婧婷[2] 

机构地区：[1]哈尔滨工程大学经济管理学院,黑龙江哈尔滨150001 [2]东北农业大学经济管理学院,黑龙江哈尔滨150001

出　　处：《科学学研究》2016年第5期744-756,共13页Studies in Science of Science

基　　金：中国博士后科学基金资助项目(2015M571395);中央高校基本科研业务费专项资金项目(HEUCF140908);黑龙江省博士后资助经费(LBH-Z14069)

摘　　要：文章从系统演化视角建立了基于研发投入、政府补贴和税收补贴3种不同经济行为的演化博弈模型,并将税收递延引入演化系统中形成新的衍生模型,并根据演化的影响因素建立计量模型用深交所的上市公司数据进行回归分析。结果表明:(1)政府补贴规模要远大于税收优惠,现有创新激励机制更加注重扶持大企业或明星企业引导主流创新,忽视了零散的小量的个性化创新需求,造成国家激励自主创新的资源配置扭曲现象;(2)税收递延对自主创新的影响要优于政府补贴,这是因为政府补贴的获取出现"国进民退"不良形势,国有企业利用政治背景掩饰创新效率低下的弱点来获取政府补贴,进而影响了政府补贴激励创新的有效性;(3)国有企业高管持股比例过低是引起政府扶持创新的"南橘北枳"的重要原因,高新技术企业的实际控制人持股比例越大,企业获得的创新激励扭曲越明显,创新效率更低。An evolutionary game was set up which includes RD expenditure,government subsidy and tax subsidy by using the evolution theory,then an improved evolutionary game was derived when the tax deferral variable be introduced into the basic model,and econometric models were established to verify the incentive effect between government subsidy and tax deferred through the panel data of Shenzhen Stock Exchange listed company. The results indicated that：（ 1） Government subsidies for innovation is significant more than tax preference,the aim that existing innovation incentive mechanism supports large enterprises or star enterprise innovation was to guide the mainstream direction of innovation,which ignored the scattered small personalized innovation needs,then led to resources distortion of national innovation incentive mechanism;（ 2） the incentive effect of indigenous innovation by tax deferred is better than by government subsidies,the most likely reason is that state- owned enterprises,which utilize their political background to cover innovation inefficient weakness,is more likely to obtain the government subsidies than private enterprises,thus cause the effectiveness of government subsidies on innovation;（ 3） Too low proportion of holding stock in state- owned enterprise is a critical factor of the inefficiency of state- owned enterprise innovation,the more shares the actual controller has,the distortion of innovation incentive became more obvious,the lower the efficiency of innovation.

关 键 词：自主创新 政府补贴 税收递延 混沌演化 

分 类 号：F270[经济管理—企业管理]