税收优惠、财务柔性对高新技术企业双元创新的影响  

The Influence of Tax Preference and Financial Flexibility on theAmbivalent Innovation of High-tech Enterprises

作　　者：郑贵华[1] 张会芳 ZHENG Guihua;ZHANG Huifang(Business School of Hunan University of Technology,Zhuzhou 412007,China)

机构地区：[1]湖南工业大学商学院,湖南株洲412007

出　　处：《郑州航空工业管理学院学报》2023年第4期35-43,共9页Journal of Zhengzhou University of Aeronautics

摘　　要：政府税收优惠激励政策和企业高水平财务柔性管理对企业获得并保持核心竞争优势至关重要。基于双元创新理论,文章以2017—2021年我国A股上市的高新技术企业数据为样本,采用面板回归实证分析方法研究了税收优惠、财务柔性对企业双元创新的直接作用以及财务柔性在税收优惠对双元创新影响中的调节效应。研究发现:较之对利用式创新的影响,税收优惠和财务柔性对探索式创新具有显著的促进作用;财务柔性作为调节变量,对税收优惠促进企业双元创新具有显著的正效应。因此,高新技术企业在享受国家税收激励政策的同时,也需要保持一定的财务柔性储备,积极探索科技前沿领域,开展高质量的创新活动。Government tax preferential incentive policies and the high level of financial flexible management of enterprises are crucial for enterprises to obtain and maintain the core competitive advantages.Under the theory of ambivalent innovation,this paper takes the data of Chinese high-tech enterprises listed in 2017-2021 as samples,and adopts the empirical analysis method of panel regression to study the direct effects of tax preference and financial flexibility on enterprise ambivalent innovation and the adjustment effect of financial flexibility in the influence of tax preference on ambivalent innovation.The results show that compared with the impact on utilization innovation,tax preference and enterprise financial flexibility can significantly promote exploratory innovation;financial flexibility,as a regulating variable,has a significant positive effect on tax preference in promoting enterprise ambivalent innovation.Therefore,while enjoying the national tax incentive policy,high-tech enterprises also need to maintain a certain amount of financial flexible reserve,actively explore the frontier fields of science and technology and carry out high-quality innovation activities.

关 键 词：税收优惠 财务柔性 双元创新 

分 类 号：F812.42[经济管理—财政学]