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Structural tax reduction, financing constraint relief and enterprise innovation efficiency

Author

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  • Huang, Nianbing
  • Liu, Yu

Abstract

This paper takes the implementation of the preferential policy of accelerated depreciation of fixed assets as a quasi-natural experiment to study the impact of structural tax cuts on the innovation efficiency of enterprises and the mechanism of its action. The results show that the implementation of accelerated depreciation preferential policy has a significant enhancement effect on the innovation efficiency of enterprises within the scope of the policy, which is significantly stronger in private enterprises and large enterprises. In the process of accelerated depreciation preferential policies affecting enterprise innovation efficiency, financing constraints can play a mediating role.

Suggested Citation

  • Huang, Nianbing & Liu, Yu, 2024. "Structural tax reduction, financing constraint relief and enterprise innovation efficiency," Finance Research Letters, Elsevier, vol. 60(C).
    • Handle: RePEc:eee:finlet:v:60:y:2024:i:c:s1544612323012205
    DOI: 10.1016/j.frl.2023.104848
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