INCOME TAX PREFERENCE AND R&D INVESTMENTS OF HIGH-TECH ENTERPRISES IN CHINA

This study explores the relationship between income tax preference and R&D investments of high-tech enterprises. selects listed enterprises in China from 2013 to 2018 as samples. The empirical results show that effective rate among differs widely. findings suggest have take advantage preferential tax, pay more attention investments, strive improve ability market competitiveness. In addition, there is a significantly positive enterprises, indicating policy other incentives such additional deduction increase effectively. State-owned (SOEs) are which state has ownership or control over its capital. relation hightech significant for non-SOEs. Non-SOEs stronger governance efficiency. Therefore, SOEs should make better use innovation enthusiasm. Moreover, this finds introduction phase than growth mature phases. However, insignificant decline phase. seem provide new perspective life cycle characteristics theoretical guidance phases growth, develop better. Finally, loss geographical units with innovative environment eliminated avoid extra interference. remain robust, policies applied positively associated investments.