Research on the Incentive Effect of Tax Preference and Financial Subsidy on the Development of Integrated Circuit Industry

DOI

10.2991/978-94-6463-036-7_13How to use a DOI?

Keywords

tax preference; Financial subsidies; Integrated circuit industry; Incentive effect; Empirical analysis

Abstract

Tax preference and financial subsidy, as the main policy tools for government departments to stimulate industrial development, play an important role in the definition of government and market under market economy. Compared with other industries, the high-end manufacturing industry represented by the integrated circuit industry has the characteristics of high investment, high risk and positive externality of scientific research results, which makes the fiscal and tax policies inevitably have different incentive effects on its industrial development. Based on the micro data of IC listed companies from 2011 to 2020, this paper analyzes the impact and differences of tax preferential policies and financial subsidies on the IC industry. The empirical study found that tax preference and financial subsidy have promoted the development of IC industry, and the incentive effect of tax preference is more significant. At the same time, by studying the incentive effect of the two policy tools on the important activities of integrated circuit enterprises, it is found that the two policy tools have a positive incentive on the R & D investment of integrated circuit enterprises, and the incentive effect of financial subsidies on Enterprise R & D is more obvious; There is no significant inhibitory effect on the investment of integrated circuit enterprises; Tax preference for enterprise financing shows positive incentive, while financial subsidies show inhibitory effect.

Copyright

© 2022 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Yuntong Hu
AU  - Fengwei Zhao
PY  - 2022
DA  - 2022/12/31
TI  - Research on the Incentive Effect of Tax Preference and Financial Subsidy on the Development of Integrated Circuit Industry
BT  - Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)
PB  - Atlantis Press
SP  - 77
EP  - 89
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-036-7_13
DO  - 10.2991/978-94-6463-036-7_13
ID  - Hu2022
ER  -