The Impact of Tax Innovation Incentive Policies on the Human Capital Structure of Enterprises: Based on the "Capital-technology Complementarity" Effect under the R&amp;D Expense Super Deduction Policy

YU Hai-feng; GE Li-yu; SU Xiao-chen

Volume 38 Issue 4

Jul. 2023

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Article Navigation > Journal of Guangdong University of Finance & Economics > 2023 > 38(4): 37-50

YU Hai-feng, GE Li-yu, SU Xiao-chen. The Impact of Tax Innovation Incentive Policies on the Human Capital Structure of Enterprises: Based on the 'Capital-technology Complementarity' Effect under the R&D Expense Super Deduction Policy[J]. Journal of Guangdong University of Finance & Economics, 2023, 38(4): 37-50.

Citation:

YU Hai-feng, GE Li-yu, SU Xiao-chen. The Impact of Tax Innovation Incentive Policies on the Human Capital Structure of Enterprises: Based on the "Capital-technology Complementarity" Effect under the R&D Expense Super Deduction Policy[J]. Journal of Guangdong University of Finance & Economics, 2023, 38(4): 37-50.

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The Impact of Tax Innovation Incentive Policies on the Human Capital Structure of Enterprises: Based on the "Capital-technology Complementarity" Effect under the R&D Expense Super Deduction Policy

Guangdong University of Finance and Economics, Guangzhou 510320, China

Received Date: 2023-04-13
Available Online: 2023-08-17
Publish Date: 2023-07-28

Abstract

Abstract

Human capital is the most active element in innovation activities, and it deserves special attention whether and how tax innovation incentive policies can promote the upgrading of enterprise human capital structure to meet the innovation needs of enterprises. This paper selects Chinese A-share listed companies from 2013 to 2021 as the research cases, and uses the reform of the R&D expense super deduction policy in 2015 as a quasi natural experiment of tax innovation incentive policies to empirically examine the impact of the R&D expense super deduction policy on the upgrading of corporate human capital structure. It is found that the policy of R&D expenses super deduction can significantly promote the proportion of highly educated employees and R&D personnel to promote the upgrading of the human capital structure of enterprises, achieve upgrading of the human capital structure by encouraging enterprises to increase advanced physical capital investment, technological innovation and the "capital-technology complementarity" effect. For the non-state-owned enterprises on a small scale with high capital intensity, and the manufacturing enterprises, policy incentives have a more significant effect. The theoretical and empirical findings provide useful insights for how China can more effectively formulate and improve tax innovation incentive policies.
- tax policy,
- innovation incentive,
- R&D expense super deduction,
- human capital structure

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References(27)

References

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