作　　者： ;

机构地区： 河北大学经济学院

出　　处： 《经济经纬》 2023年第3期150-160,共11页

摘　　要： 基于2013—2020年沪深A股上市公司样本数据,构建计量模型、中介模型和调节模型,研究财税支持对企业创新的影响效果及作用机制。结果表明:(1)财政支持对企业创新具有促进作用,其中对内源创新的促进作用强于外源创新;(2)财政支持对企业创新的推动作用在规模较小的企业、非国有企业、非高技术企业以及中西部地区更显著;(3)借助人力资本集聚和融资约束两个中介机制,财政支持可激发企业创新活力;(4)税收激励能够显著降低企业研发创新成本,进而实现财政支持助推企业创新的促进作用。基于此,有关部门应不断凝聚财政支持与税收激励的企业创新政策合力,充分考虑财税支持在企业与区域层面的异质性影响,高度关注人力资本集聚和融资约束机制作用,推动企业高质量创新发展。 Based on the sample data of A-share listed companies in Shanghai and Shenzhen from 2013 to 2020,this paper constructs econometric model,intermediary model and regulation model to study the impact effect and mechanism of financial support on enterprise innovation.There are following findings:(1)Financial support can promote enterprise innovation,and the promotion effect on endogenous innovation is stronger than that of the exogenous innovation;(2)Financial support plays a more significant role in promoting enterprise innovation in smaller enterprises,non-state-owned enterprises,non high-tech enterprises and the central and western regions;(3)With the help of human capital agglomeration and financing constraints,financial support can greatly stimulate the innovation vitality of enterprises;(4)Tax incentives play a regulatory role in financial support to promote enterprise innovation.Based on these conclusions,the relevant departments should consolidate the policy synergy of financial support and tax incentives for enterprise innovation,fully consider the heterogeneous impact of financial and tax support at the enterprise and regional levels,pay high attention to the mechanism role of human capital agglomeration and financing constraints,and promote the high-quality innovation development of enterprises.

关 键 词： 财政支持 企业创新 内源创新 外源创新 税收激励

领　　域： [经济管理—财政学]