期刊
FINANCE RESEARCH LETTERS
卷 39, 期 -, 页码 -出版社
ACADEMIC PRESS INC ELSEVIER SCIENCE
DOI: 10.1016/j.frl.2020.101575
关键词
Tax reduction; Innovation; Endogeneity
资金
- Fundamental Research Funds for the Central Universities in UIBE [17QD03]
- National Natural Science Foundation of China [71803023, 71973139]
- Beijing Municipal Social Science Foundation [19YJC024]
The study finds that tax reduction has a significant promotion effect on firms' innovation, especially in the service industry. It is suggested that more tax reduction policies should be introduced to support small and medium-size enterprises.
The role of taxation in firms' innovation is far from a clear answer. We estimate the effect of tax reduction on firms' innovation. By using a novel matched dataset with rich information on innovative activities and taxation reduction, we find the significant promotion effect of tax reduction In addition, by taking heterogeneity into account, we find the promotion effect is larger in service industry than manufacturing sector. Furthermore, we employ alternative innovation indicators and estimation models to take robust checks. The policy implication is that more tax reduction policies should be introduced to small and medium-size firms.
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