[1]王一舒,张 琪.生命周期视角下研发财税支持与企业绩效关系研究——基于轻资产类高新技术上市公司的经验数据[J].常州大学学报(社会科学版),2019,20(02):63-73.[doi:10.3969/j.issn.2095-042X.2019.02.007]
　Wang Yishu,Zhang Qi.On the Relationship Between R&D Fiscal and Tax Support andEnterprise Performance from the Perspective of Life Cycle—Based on the Data of Asset-light High-tech Listed Companies[J].Journal of Changzhou University(Social Science Edition),2019,20(02):63-73.[doi:10.3969/j.issn.2095-042X.2019.02.007]
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生命周期视角下研发财税支持与企业绩效关系研究——基于轻资产类高新技术上市公司的经验数据()
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常州大学学报(社会科学版)[ISSN:2095-042X/CN:32-1821/C]

卷:
第20卷
期数:
2019年02期
页码:
63-73
栏目:
经济·管理学研究:财务与会计专题研究
出版日期:
2019-04-15

文章信息/Info

Title:
On the Relationship Between R&D Fiscal and Tax Support andEnterprise Performance from the Perspective of Life Cycle—Based on the Data of Asset-light High-tech Listed Companies
作者:
王一舒; 张 琪
Author(s):
Wang Yishu;  Zhang Qi
关键词:
轻资产;  生命周期;  财税支持;  技术绩效;  财务绩效
Keywords:
asset-light;  life cycle;  fiscal and tax support;  technological performance;  financial performance
分类号:
F275
DOI:
10.3969/j.issn.2095-042X.2019.02.007
文献标志码:
A
摘要:
随着我国劳动力等资源禀赋优势逐渐减弱,技术创新已成为企业和国家提高竞争力的必要途径。政府财税支持弥补了企业技术创新外部性损失,缓解了R&D投入融资约束,其政策选择对企业的未来发展具有重要影响。以轻资产类高新技术上市公司为研究对象,检验了不同生命周期阶段研发财税支持政策对技术绩效和财务绩效的影响以及技术绩效与财务绩效的交互关系。研究发现:研发财税支持对企业绩效的影响随生命周期阶段的发展呈动态变化; 研发政府补贴和税收优惠对初创和成长期、成熟期企业的技术绩效和财务绩效都具有显著激励效应,税收优惠仅对成熟期企业的技术绩效具有显著促进作用; 技术绩效与财务绩效的相互影响也随生命周期阶段呈动态变化。据此,提出提高研发财税支持政策效应和提升企业绩效的对策,具体包括:政府财税支持政策应考虑企业生命周期特征; 研发补贴应实施目标绩效管理; 根据生命周期特征安排研发活动,形成技术与财务绩效交互促进的良性循环。
Abstract:
With the loss of labor force and other advantages in China, technological innovation has become a necessary way for enterprises and the country to improve their competitiveness. The government’s fiscal and tax support has made up for the external loss of technological innovation of enterprises and eased the constraints of R&D investment and financing and its policy choice plays an important role in the future development of enterprises. Taking the asset-light high-tech listed companies as research objects, the impacts of R&D fiscal and tax support policies on technological performance and financial performance at different life cycle stages, as well as the interactive relationship between technological performance and financial performance have been examined. The results show that the impacts of R&D fiscal and tax support on enterprise performance change dynamically along with life cycle stages, that is, R&D government subsidies and tax preference have significant incentive effects on technological performance and financial performance of enterprises in the start-up, growth and maturity stages, while tax preference only has significant promotion effects on technological performance of mature enterprises. The interaction between technological performance and financial performance also changes dynamically along with life cycle stages. Accordingly, some countermeasures have been put forward to improve the effects of R&D fiscal and tax support policies and promote the performance of enterprises, which means the fiscal and tax support policies of government should consider the characteristics of enterprise life cycle; R&D subsidies should implement target performance management; R&D activities should be arranged according to the characteristics of life cycle to form a virtuous circle of interactive promotion between technological performance and financial performance.

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备注/Memo

备注/Memo:
作者简介:王一舒,管理学博士,常州大学商学院副教授、硕士生导师; 张琪,常州大学商学院硕士研究生。
基金项目:江苏省社会科学基金重点项目“江苏中小微企业发展金融支持政策研究”(16EYA004); 常州市科技计划“常州市十百千创新型企业培育及发展研究”(CR20180009)。
更新日期/Last Update: 2019-04-15