时间：2020年12月15日（周二）12:00-13:00

地点：同济大厦A楼506室

题目： The impact of R&D subsidies and tax incentives on firm innovation: complements or substitutes? — Firm-level evidence from China

（政府直接资助与税收激励政策对企业创新的影响：互补还是替代？– 来自中国企业层面的证据）

主讲人：陈洁萍（同济大学经济与管理学院 博士后）

摘要：

This paper tries to account for impact from both R&D tax incentives and subsidies policies on firm innovation in China. Unlike most of the literature, we look at the joint effect of the two R&D policies when they are awarded to firms simultaneously rather than separately, measuring firm innovation by input and output proxies, namely “R&D investment” and “number of patents application”. We use a firm-level survey data from Shanghai, China, and combine the propensity score matching method and the difference in difference method to effectively eliminate the selection bias problem. The results suggest that significant additionality effect exists when single policy implemented. However, the two policies act as substitutes to each other when they are jointly awarded to firms. In addition, heterogeneity analyses show how these effects differ across firms characterized by different amount of direct subsidy, enterprise size and financial conditions.