税收激励能否促进企业创新？基于研发、专利与溢出效应的断点回归设计
Do Tax Incentives Increase Firm Innovation? An RD Design for R&D, Patents, and Spillovers
American Economic Journal: Economic Policy · 2023 · Antoine Dechezleprêtre、Elias Einiö、Ralf Martin、Kieu-Trang Nguyen、John Van Reenen
中文摘要
本文提供了研发税收激励对企业自身创新及其技术邻近企业创新产生正向影响的因果证据。利用基于企业规模的研发税收减免资格门槛变化，本文使用行政数据实施断点回归设计。研究发现，税收减免对经质量调整的专利（以及研发）具有显著影响，且该影响持续长达七年；同时，存在研发对技术相近企业创新产生溢出效应的证据。本文在5%水平上排除了专利申请相对于研发使用成本的弹性低于2的可能性，并表明较大的效应是由处理组中面临融资约束的企业所驱动的。（JEL D22, H25, H32, O31, O34）
Abstract
We present causal evidence of R&D tax incentives’ positive impacts on a firm’s own innovation and that of its technological neighbors. Exploiting a change in size-based eligibility thresholds for R&D tax relief, we implement a Regression Discontinuity Design using administrative data. We find significant effects of tax relief on (quality-adjusted) patenting (and R&D) that persist up to seven years, and evidence of R&D spillovers on the innovation of technologically close firms. We can rule out elasticities of patenting with respect to R&D user cost of under 2 at the 5 percent level and show that our large effects are driven by financially constrained treated firms. (JEL D22, H25, H32, O31, O34)