税收优惠对节能环保上市公司研发投入影响的实证研究

伴随我国经济的快速发展，面临的资源与环境问题日益突出，激励节能环保企业增加研发投入进行技术创新具有重要意义。论文以深沪两市118家节能环保A股上市公司2011～2015年的数据作为研究样本，以研发投入作为被解释变量，以税负总额、所得税税负和流转税税负作为解释变量，结合节能环保产业自身特点，运用多元回归模型分析了税收优惠对节能环保上市公司研发投入的影响。实证结果表明：税收优惠政策对节能环保上市公司技术创新产生了正面影响，所得税优惠政策比流转税优惠政策对研发投入的影响更显著。建议从继续完善所得税税收优惠、逐步加大流转税优惠力度、建立健全配套措施等方面完善激励节能环保企业增加研发投入的税收优惠政策。

Empirical Research on Influence of Tax Preference on Energy Conservation and Environmental Protect Listed Companies' R&D Investment

The resource and environment problems are highlighted with the rapid development of Chinese economy,so to stimulate energy conservation and environmental protectionenterprises to increase R&D investment in technological innovation plays important significance.Taking the data during 2011-2015 of 118 A share energy conservation and environmental protection listed companies in Shanghai as well as Shenzhen stock markets as research samples,regarding R&D investment as explained variables while tax bearing amount,income tax bearing and turnover tax bearing as explanatory variables,and combining with the characteristics of energy conservationand environmental protection industry,this paper analyzes the influence of tax preference on energy conservation and environmental protection listed companies'R&D investment.The empirical result shows that,tax preference policy generates positive influence on technological innovation of energy conservation and environmental protection listed companies,and the influence of favorable income tax policy on R&D investment is more prominent than that of turnover tax preference.It is suggested to perfect the tax preference policies stimulating energy conservation and environmental protection companies to increase R&D investment from the perspectives of improving income tax preference,strengthening preference of turnover tax and establishing supporting measures.