创新导向减税与就业结构升级—基于研发费用加计扣除的检验

创新在中国经济社会发展中的作用愈发突出，如何促进高技能劳动力向创新主体部门集聚，值得深入探索。基于2018年企业所得税研发费用加计扣除比例提升冲击，利用A股上市公司2016−2019年数据，本文研究了创新导向减税对就业结构的影响。研究发现，加计扣除比例提升显著提高了企业雇佣劳动力中研究生所占比例，促进了企业创新人力资本积累。异质性分析显示，政策在非公有制企业、主板上市企业中效果更明显。对企业各层次雇佣规模的评估表明，雇佣总量及研究生、本科生雇佣数均有所提高，同时本科以下学历人员并未明显减少，这意味着政策未产生明显的挤出效应，高技能劳动力雇佣的增加并不以低技能劳动力的减少为代价。综合来看，政策不但能促进企业加大研发投入，还有助于提高全要素生产率和盈利水平。本文结论为通过实施结构性减税，推动创新驱动发展提供了经验支撑。

Innovation-oriented Tax Cuts and Employment Structure Upgrade

With the increasingly prominent role of innovation in China’s economic and social development, how to promote the clustering of highly skilled labor to the main innovation sector is worth exploring in depth. In this paper, based on a quasi-natural experiment of the 2018 R&D expenses plus deduction reform, we investigate the upgrading effect of innovation-oriented tax cuts on firms’ employment structure using data from A-share listed companies for 2016-2019. The results show that tax incentives significantly increase the proportion of graduate educated labor in the employment structure of firms, and promote the accumulation of human capital. Analysis of heterogeneity indicates that the policy effects are more pronounced for non-SOE and main board listed companies. Besides, we find that the reform does not reduce the total employment size of firms, nor has a substitution effect on the lower-educated labor force. From a comprehensive perspective, the reform not only prompted firms to increase R&D investment, but also helped improve total factor productivity and profitability efficiency. The conclusions of this paper provide empirical support for further promoting innovation-driven development through the implementation of structural tax cuts.