行业景气度、税收激励与企业创新  

Industry Prosperity,Tax Incentive and Enterprise Innovation

作　　者：曾芝红 谢献谋[2] 杨柳[3] 王一安 ZENG Zhihong;XIE Xianmou;YANG Liu;WANG Yian(Division of Finance,WUT,Wuhan 430070,China;不详)

机构地区：[1]武汉理工大学财务处,湖北武汉430070 [2]武汉大学土木建筑工程学院,湖北武汉430072 [3]武汉理工大学管理学院,湖北武汉430070

出　　处：《武汉理工大学学报（信息与管理工程版）》2021年第1期77-83,共7页Journal of Wuhan University of Technology：Information & Management Engineering

基　　金：国家社会科学基金重点项目(15AGL008).

摘　　要：行业景气度作为企业经营管理的重要外部环境,对企业的创新行为具有显著的影响,开展行业景气度与企业创新之间的相关研究对驱动企业创新发展具有重要的理论与现实意义。以2007—2017年我国非金融类A股上市企业为研究样本,探究不同的行业景气度和税收激励对企业创新的影响以及行业景气度在税收激励与企业创新之间的调节作用。研究结果表明:行业景气度对企业创新具有显著的促进作用;税收激励在企业创新具有显著的促进作用;行业景气度在税收激励与企业创新之间存在一定的负向调节作用;企业融资约束水平越高,行业景气度和税收激励对企业创新的促进作用越显著,行业景气度在税收激励与企业创新之间的调节作用也越明显。Industry prosperity is an important external environment for business management,and it has a significant impact on the innovation behavior of enterprises.The development of related research between industry prosperity and enterprise innovation has important theoretical and practical significance for driving enterprise innovation and development.This paper takes China′s A-share non-financial listed companies from 2007 to 2017 as a research sample to study the impact of different industry boom on enterprise innovation and the regulatory effect of the boom of industry on tax incentive and enterprise innovation.The research found that:the boom of industry has a significant positive impact on enterprise innovation;tax incentive plays a significant role in promoting enterprise innovation;the boom of industry has a certain negative adjustment effect on the relationship between tax incentive and enterprise innovation.Further research based on the level of financing constraints also found that the higher the level of enterprise financing constraints,the more significant the impact of industry boom and tax incentive in promoting enterprise innovation,and the more obvious the effect of the boom of industry in tax incentive and enterprise innovation.

关 键 词：行业景气度 企业创新 税收激励 调节效应 融资约束 

分 类 号：F230[经济管理—会计学]