经济
利用
激励
利润(经济学)
计量经济学
公共经济学
微观经济学
计算机安全
计算机科学
作者
Ingo E. Isphording,Andreas Lichter,Max Löffler,Thu-Van Nguyen,Felix Poege,Sebastian Siegloch
出处
期刊:Social Science Research Network
[Social Science Electronic Publishing]
日期:2021-11-01
摘要
We study how profit taxation affects plants’ R&D spending and innovation activities. Relying on geocoded survey panel data which approximately covers the universe of R&D-active plants in Germany, we exploit around 7,300 changes in the municipal business tax rate over the period 1987–2013 for identification. Applying event study models, we find a negative and statistically significant effect of an increase in profit taxation on plants’ R&D spending with an implied long-run elasticity of -1.25. Reductions in R&D are particularly strong among more credit-constrained plants. In contrast, homogeneity of effects across the plant size distribution questions policy makers common practice to link targeted R&D tax incentives to plant size. We further find lagged negative effects on the (citation-weighted) number of filed patents.
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