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中南大学学报(社会科学版)
ZHONGNAN DAXUE XUEBAO(SHEHUI KEXUE BAN)

2021年09月第27卷第5期
   
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文章编号:1672-3104(2021)05-0106-13
 
固定资产加速折旧政策对数字企业创新效率的影响
 
邓峰,杨国歌
 
(新疆大学经济与管理学院,新疆乌鲁木齐,830000)
 
摘  要: 基于2009—2019年中国数字经济行业中A 股上市公司面板数据,运用双重差分法(DID)考察了固定资产加速折旧政策对数字企业创新效率的影响及其作用机制。研究结果表明,固定资产加速折旧政策对提高数字企业创新效率具有显著的激励效应,对中小规模和国有控股数字企业的激励效应尤为显著。该激励效应通过提高综合技术效率而得以发挥,随时间的延长而呈现递减趋势,且较少受企业生命周期影响。从影响机制看,是该政策通过缓解融资约束,提高了数字企业创新效率;而科研投入强度,则在融资约束与数字企业创新效率之间起到了正向调节效应。研究的政策建议:将固定资产加速折旧政策适用范围继续扩大至非制造业;提高数字企业研发设备一次性计入当期成本费用扣除的门槛;简化扣除固定资产加速折旧税收的流程,使更多数字企业享受到政策优惠。
 
关键词: 数字经济;企业创新;税收优惠;固定资产折旧
 
 
The impact and the mechanism of the policy of accelerated depreciation on innovation efficiency of digital enterprises
 
DENG Feng, YANG Guoge
 
(School of Economics and Management, Xinjiang University, Urumqi 830000, China)
 
Abstract: Based on the panel data of A-share listed companies in China's digital economy industry from 2009 to 2019, this paper uses the double difference method (Difference-in-differences Model, DID) to investigate the impact of the policy of accelerated depreciation of fixed assets on the innovation efficiency of digital enterprises and its mechanism. The empirical results show that the policy of accelerated depreciation of fixed assets significantly stimulates the innovation efficiency of digital enterprises, and exerts more striking incentive effect on the small and medium-sized and state-owned digital enterprises. Its incentive effect plays its role by improving the comprehensive technical efficiency, shows a decreasing trend as time prolongs, and is less likely to be affected by the life cycle of the enterprises. In terms of impact mechanism, such policy improves the innovation efficiency of the digital enterprises by relieving the restraints of fund-raising, while the intensity of R&D investment exerts a positive regulating effect between restraints of fund-raising and innovation efficiency of the digital enterprises. The policy of the study suggests that we should continue expanding the application range of the policy of accelerated depreciation of fixed assets to non-manufacturing industry, elevate the threshold of taking once and for all the R&D equipment of digital enterprises into the reduction of costs, and simplify the procedure of deducting the tax of accelerated depreciation policy of fixed assets so that more digital enterprises could enjoy the benefits of the policy.
 
Key words: digital economy; enterprise innovation; tax preference; depreciation of fixed assets
 
 
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