统计与数据科学学院知识库

以创新为首的新发展理念的大背景下，我国开始越来越注重社会经济发展质量的提高和作为国家核心竞争力知识水平的提升，我国已经将培育和发展高新技术产业作为提升经济发展质量和知识技术水平的主要手段，而持续地进行科学技术研发与科学技术成果转换的高新技术企业则被认为是高新技术产业发展的微观主体。有着高投入的高新技术企业是否有高产出，衡量其全要素生产率对于我国培育技术创新从而提高国际竞争力有着重要的作用。政府为了激励高新技术企业加大科学技术研发资金投入、提升其自主创新能力及生产效率，推出了各种政府补助政策和税收优惠政策。

本文从全要素生产率视角出发，选取2008-2019年上市的高新技术企业作为研究样本，对高新技术企业全要素生产率进行测算并对测算结果分行业进行对比分析。进一步讨论税收优惠、政府补助对高新技术企业TFP的影响作用以及考虑研发投入作为中介变量时的影响机制，并进行内生性、稳健性和异质性分析。分析结论表明，政府补助、税收优惠对于高新技术企业全要素生产率呈现出显著的正向影响；政府补助、税收优惠对于研发投入呈现出显著的正向影响；在研发投入作为中介变量时，政府补助、税收优惠对于全要素生产率仍然呈现出显著的正向影响。在考虑内生性问题的前提下，税收优惠对全要素生产率的影响并不会呈现长期动态。而政府补贴在长期动态上对全要素生产率有显著的正向影响，并且研发投入在其中起显著的正向中介作用。

Headed by innovation under the background of new development concept, our country began to more and more attention to improve the quality of our social and economic development as a national core competitiveness and knowledge level of ascension, our country has been cultivating and developing new and high technology industries as improving the quality of economic development and technical level of the main means of knowledge, to continue the science and technology research and development and the scientific and technological achievements transformation of the high-tech enterprises, are thought to be micro main body of high and new technology industry. Whether high-tech enterprises with high input have high output and measuring their total factor productivity plays an important role in fostering technological innovation and improving international competitiveness in China. In order to encourage high-tech enterprises to increase their investment in scientific and technological research and development, improve their independent innovation ability and production efficiency, the government has introduced various government subsidy policies and preferential tax policies.

From the perspective of total factor productivity, this paper selects high-tech enterprises listed from 2008 to 2019 as research samples, measures the total factor productivity of high-tech enterprises and makes a comparative analysis of the measured results by industry. The effect of tax incentives and government subsidies on TFP of high-tech enterprises and the influence mechanism when considering R&D investment as a mediating variable are further discussed, and the endogenous, robustness and heterogeneity analysis are also carried out. The analysis results show that government subsidies and tax incentives have a significant positive impact on TFP of high-tech enterprises. Government subsidies and tax incentives have a significant positive effect on R&D investment. When R&D input is used as an intermediary variable, government subsidies and tax incentives still have a significant positive impact on TFP. On the premise of considering endogeneity, the effect of tax incentives on total factor productivity does not show long-term dynamics. Government subsidies have a significant positive effect on total factor productivity in the long run, and R&D investment plays a significant positive mediating role.