关键词: 减税, 企业创新, 高新技术企业, 动态面板门限模型

Abstract: Studying the impact of tax reduction on corporate innovation is of great significance for Chinas highquality economic development. Drawing on the 20082014 National Innovation Survey Enterprise Database of the National Bureau of Statistics, this paper uses dynamic panel threshold model and effective instrumental variables to study whether there is threshold effect of tax reduction of hightech enterprises on corporate innovation. The results of the study indicate that: firstly, there is a “size threshold” for hightech enterprises' tax reduction. Once the tax reduction scale exceeds the “size threshold”, the promotion effect of tax reduction on corporate innovation will be significantly weakened. Secondly, under the same conditions, compared with hightech enterprises with low R&D intensity, the tax reduction of hightech enterprises with high R&D intensity has stronger promoting effect on corporate innovation. Thirdly, under the same conditions, compared with the hightech enterprises in the underdeveloped regions, the tax reduction of hightech enterprises in economically developed regions has a greater promoting effect on corporate innovation. The government should set an upper bound for the scale of tax reduction, and the preferential tax rate of income tax should be linked with the R&D intensity of hightech enterprises.

Key words: tax reduction, corporate innovation, hightech enterprises, dynamic panel threshold model