Tax Incentives,On-the-job Training,and Human Capital Accumulation: Evidence from China |
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| Affiliation: | 1. School of Public Finance and Taxation, Zhongnan University of Economics and Law, Wuhan, Hubei 430073, China;2. School of Finance, Renmin University of China, Beijing 100872, China;3. School of Business Administration, Hubei University of Economics, Wuhan, Hubei 430205, China;4. School of Economics and Finance, Xi''an Jiaotong University, Xi''an, Shanxi 710061, China |
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| Abstract: | This study investigates the effects of an increase in the proportion of tax credit (IPTC) policy on firms' on-the-job-training expenses. We document that the IPTC significantly increases on-the-job training expenses; the result remains valid after a series of robustness tests. An analysis of heterogeneous effects shows that privately owned firms and small-scale firms are more susceptible to the IPTC's impacts than state-owned and large-scale firms. Finally, we find that the IPTC can improve the production efficiency of firms and promote firm performance and innovation. |
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