加计扣除政策、研发操纵与民营企业自主创新  

Additional deduction policy,R&D manipulation and independent innovation of private firms

作　　者：万源星 许永斌[1] 许文瀚 Wan Yuanxing;Xu Yongbin;Xu Wenhan(School of Accounting,Zhejiang Gongshang University,Hangzhou 310018,Zhejiang,China;School of Accounting,Nanjing Audit University,Nanjing 211815,Jiangsu,China)

机构地区：[1]浙江工商大学财务与会计学院,浙江杭州310018 [2]南京审计大学会计学院,江苏南京211815

出　　处：《科研管理》2020年第2期83-93,共11页Science Research Management

基　　金：国家社会科学基金重点项目(14AGL009,2014.06-2017.12);国家社科基金青年项目(19CJY008,2019.06-2022.12)。

摘　　要：基于2008-2017年中国A股民营上市公司的创新数据,从研发操纵视角,实证检验了加计扣除政策对民营企业自主创新的影响。实证结果表明:(1)加计扣除政策激励了民营企业自主创新,而研发操纵抑制这种激励效果;(2)随着加计扣除政策2013年和2015年的两次修改,民营企业的研发操纵行为得到一定治理;(3)研发操纵在盈利、非家族、非高新技术及税收监管弱的民营企业中更显著。本研究不仅为税收政策引发的激励扭曲效应提供微观证据,还为完善加计扣除政策提供建议。The independent innovation and sustainable development of private firm have been highly valued by the Chinese government.At the executive meetings of the State Council in December 2018 and January 2019,Premier Li Keqiang pointed out that increasing support for the private economy and SME must be the first item on the agenda,and the tax burden for private and SME is estimated to be reduced by 200 billion yuan per year.A large number of studies have also proved that tax incentives can reduce innovation cost and make them more market-oriented,which has been widely used in practice(Jia and Ma,2017;Lee and Bell,2018;Ni and Wang,2018).The additional deduction policy is a main policy for the government to encourage firms to innovate,which has been continuously revised from the aspects of preferential intensity,applicable industries,the collection scope of R&D expenses and so on.However,in recent years,some firms have manipulated R&D expenses to obtain the policy benefits,resulting in the capital market failure and the loss of national fiscal and tax resources.Therefore,the research of R&D manipulation is helpful to improve the additional deduction policy,and of a great practical significance for the development of Chinese private economy.The researches for additional deduction policy are numerous,and most of them have adopted qualitative paradigm in early years(Song et al.,2009;Fan et al.,2011;Lian et al.,2012).In recent years,only a few of them have adopted empirical methods to analyze the impact of the additional deduction policies on the innovation of listed firms,and the research results are controversial.For example,Ren and Song(2017)believed that the additional deduction policy could reduce the innovation cost by indirectly increasing capital supply,which could further encourage firms to make independent innovation.Many other researches,such as Zhang et al.(2016)and Xi(2017),also prove this incentive effect.However,Wang(2017)found that additional deduction policies was not as successful as expected in micro high-t

关 键 词：加计扣除政策 研发操纵 民营企业 自主创新 

分 类 号：F276.5[经济管理—企业管理]