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| Industry Heterogeneity, Tax Incentive and Independent Innovation |
| Li Xiangju, Yang Huan |
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Abstract Based on the data of Chinese Ashare listed companies of strategic emerging industries from 2007 to 2016, this paper analyzes the relationship between tax preference and the enterprise technology innovation from two dimensions involving enterprise R&D and patent output. We discover that the tax preference yields a positive effect on enterprise independent innovation and effectively promotes the R&D investment and patent output. Further study based on the industry to which the enterprise belongs finds that there are significant differences in the effect of tax preference on enterprise innovation in eight strategic emerging industries: it has an incentive effect on the R&D investment and patent output in the new generation of information technology, highend equipment manufacturing, energy conservation and environmental protection, but it has a restraining effect on the innovation investment of the new energy industry and the patent output of the bioindustry and the new energy automobile industry. The conclusion of this paper explains the existing research about the "incentive effect" and "inhibition effect" of the preferential tax policy to some extent and has significance concerning policies in improving the innovation tax incentive system.
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