 Does tax symmetry improve corporate innovation investment? Evidence from the change policy of loss carrying forward period in ChinaFenghua Guo, Peiyun Huo, Hui Song, Duolei Zhang and Lei Zhou Economic Analysis and Policy, 2024, vol. 81, issue C, 591-602 Abstract: Taking China's A-share listed companies with high-tech enterprise qualification from 2015 to 2020 as a sample, we find that the increase of tax symmetry can significantly improve enterprise innovation investment; agency conflict has a significant negative regulatory effect. Further, this paper empirically tests the role path of tax symmetry on enterprise innovation investment. The results show that tax symmetry mainly promotes the level of enterprise innovation investment by improving the level of enterprise risk-taking, which supports the government's "sleeping partner" hypothesis. Therefore, it is suggested that the government should enhance tax symmetry and act as a "sleeping partner" of enterprises, which has important enlightenment significance for stimulating enterprises to increase their enthusiasm for innovation. Under the background of China's emerging economy, this study will contribute to the references of tax policies and enterprise innovation. Keywords: Tax symmetry; Loss carry forward period; High-tech enterprises; Investment in enterprise innovation (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:ecanpo:v:81:y:2024:i:c:p:591-602 DOI: 10.1016/j.eap.2023.12.021 Access Statistics for this article Economic Analysis and Policy is currently edited by Clevo Wilson More articles in Economic Analysis and Policy from Elsevier |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.