税收优惠与财政补贴对我国中药企业研发投入影响的比较研究  

A comparative study on impact of tax incentives and financial subsidies on R&D investment of Chinese materia medica enterprises

作　　者：辛倩 郑义 宫雪 孙利华[1] XIN Qian;ZHENG Yi;GONG Xue;SUN Li-hua(College of Business Administration, Shenyang Pharmaceutical University, Shenyang 110016, China;Liaoning Power Center Hospital, Shenyang 110006, China)

机构地区：[1]沈阳药科大学工商管理学院,辽宁沈阳110016 [2]辽宁电力中心医院,辽宁沈阳110006

出　　处：《中草药》2018年第9期2215-2220,共6页Chinese Traditional and Herbal Drugs

摘　　要：通过比较间接税收优惠与直接财政补贴对我国中药企业研发投入激励效果,旨在为政府补贴对我国中药企业研发投入的影响提供一定的经验证据,进而为政府部门中药企业创新激励政策的制定提供一定的参考。以62家中药上市企业2012—2016年5年间共计301个观察值为样本,运用面板随机效应模型及B指数对上述样本进行处理。结果显示,税收优惠对我国中药企业研发投入具有显著的激励效应,企业税收成本每减少1%,研发费用就上升0.99%,研发税收弹性为-0.99;财政补贴对我国中药企业研发投入的激励作用显著,但估计系数仅为0.24,且当税收优惠与财政补贴同时存在时,财政补贴对企业研发投入的激励效果不显著。此外,税收优惠对企业研发投入的激励效果会随着企业规模的增大而减小。政府补贴应以间接的税收优惠为主,直接的财政补贴为辅,且税收优惠政策应适当向中小型中药企业倾斜。By comparing the incentive effect of indirect tax incentives and direct financial subsidies on RD investment of Chinese medicine enterprises, this empirical study aims to provide empirical evidence for the government subsidies to encourage the RD investment of traditional Chinese medicine industry, and also provide valuable reference for the government to encourage enterprises to carry out innovation activities. Using a total of 301 observations in 62 traditional Chinese medicine enterprises from 2012 to 2016 as the research object, the paper analyzed the impact of tax incentives and financial subsidies on enterprise innovation performance. The results show that tax incentives have a significant incentive effect on RD investment of traditional Chinese medicine enterprises, for every 1% reduction in tax costs, RD investment increase by 0.99%, and RD investment tax elasticity is-0.99; Financial subsidies have a significant positive effect on RD investment but the estimated coefficient is only 0.24. When tax incentives and financial subsidies exist at the same time, the effect of financial subsidies on RD investment is not significant. Moreover, the regression results of adding firm size as a moderator variable showed that incentive effects of tax incentives on RD investment decreased with the increased size of the enterprise. Therefore, government subsidies should be based on tax incentives, supplemented by financial subsidies, and tax incentives should be properly inclined to SMEs.

关 键 词：税收优惠 财政补贴 B指数 中药 研发投入 

分 类 号：R288[医药卫生—中药学]