【摘要】 基于中国2014—2017年的中小板上市公司数据,在税收视角下分析研究了企业研发支出资本化对宏观经济变量的影响。结果表明:与低税率公司相比,由于高税率公司的费用化研发支出税收效益更高,且具有与其他公司相比更低的资本化率。分析对比不同公司的财务报表,如果公司的成本较高,此时需采取多元化的途径避免发生更高的非税成本。非国有企业与国有企业相比,前者研发支出的税率与资本化率之间表现出更为显著的负向关系,且往往会采取更加激进的税收筹划工作。与低税率公司相比,高税率公司具有较高的费用化研发支出市场定价。更多还原

【Abstract】 Based on the small and medium board listed companies in China from 2014 to2017,this paper analyses the impact of the capitalization of research and development expenditure on macroeconomic variables from the perspective of taxation. The results show that compared with companies with low tax rates,high tax rate companies have lower capitalization rate because they have higher tax revenue of R&D expenditure. By analyzing the financial statements of different companies,the authors find out that companies with higher costs have to take different measures to avoid incurring higher non-tax costs. Compared with state-owned enterprises,the negative relationship between the tax rate of R&D expenditure and capitalization rate of non state-owned enterprises is more significant,and the enterprises are more radical in their tax planning. Compared with low tax rate companies,high tax companies have higher market pricing for the expenditure.更多还原