The Influence of Tax Burden on Innovation Input of Manufacturing Enterprises
HAO Xiuqin1, YANG Bojian2
1. Finance & Taxation School, Henan University of Economics and Law, Zhengzhou 450046, China; 2. Accounting School, Henan University of Economics and Law, Zhengzhou 450046, China
Abstract Based on the relevant data of Chinese listed manufacturing companies from 2013 to 2019, this paper uses the fixed utility model to investigate the influence and mechanism of tax burden on innovation investment of manufacturing enterprises. The research shows that the tax burden has a crowding-in effect on enterprise innovation investment, and this conclusion is still valid after a series of robustness tests. Mechanism analysis indicates that tax burden promotes enterprises to increase innovation investment by strengthening tax-saving earnings management behavior, and enterprise adjustment cost alleviates the behavior of enterprises to increase innovation investment caused by tax burden to some extent. The conclusions help us to understand the internal mechanism of the impact of tax burden on innovation investment of manufacturing enterprises, and provide new evidence for the effect of tax policy on innovation investment of manufacturing enterprises. It provides supporting evidence and practical suggestions for adjusting and perfecting tax policies to promote innovation of manufacturing enterprises.
2023, Vol. 40 
