THE IMPACT OF CHINA'S R&D EXPENSE SUPER DEDUCTION POLICY ON CORPORATE INNOVATION OUTPUT

Abstract

With the economic turmoil in the world and the intensification of the scientific and technological game between China and the United States, how to achieve the "low-end lock" in the technological leap is an urgent problem for the Chinese government to solve. As an inclusive R & D incentive policy, how does the R & D expense additional deduction policy affect enterprise innovation? Whether it can solve the innovation dilemma of Chinese enterprises has important theoretical and practical significance. From the two dimensions of "quality" and "quantity" of the enterprise innovation output, this paper focuses on the basic topic of "how the additional deduction of R & D expenses affects the enterprise innovation output" and brings the R & D manipulation into the research framework. Taking China's A-share manufacturing enterprises as the sample, the additional deduction of R & D expenses plays its "tax saving effect" and promotes the increase of the quantity and quality of enterprise innovation. The regulatory vacuum of the additional deduction policy and the advantage of R&D information will induce the self-interest behavior of the management, resulting in shortsighted decision-making by enterprises, which is not conducive to the innovation output of enterprises. With the increase in the proportion of additional deductions, the initiative and adaptability of enterprises to the policy are gradually enhanced.