关键词: 减税, 高新技术“僵尸企业”, 创新能力, 创新策略

Abstract: It is of great theoretical and practical significance for promoting China’ s supply-side structural reform and implementing the innovation-driven development strategy to study how the government tax reduction can improve the innovation of high-tech “ zombie firms”. This paper uses the micro-enterprise samples of the National Innovation Survey Enterprise Database over 2008 - 2014 and defines the concept and identification method of high-tech “ zombie firms” based on the general equilibrium model of ABBGH ( 2005). The main findings are as follows: Firstly, the tax reduction of high-tech “ zombie firms ” can significantly improve corporate innovation, and has a strong “leverage effect” on innovation-type “zombie firms”. Secondly, the tax reduction of high-tech “ zombie firms” has a significantly higher promotion effect on corporate innovation than non-high-tech “zombie firms”. Thirdly, the large-scale tax reduction of innovative “ zombie firms” in favor of fixed assets investment of scientific research and efficient “zombie firms” in favor of basic scientific research is more conducive to stimulating the corporate innovation vitality, bringing high-tech “zombie firms” back to life. Therefore, the government should take advantage of innovation strategies of innovative “ zombie firms” that prefer assets to scientific research and efficient “ zombie firms” that prefer scientific research to assets to improve preferential taxation policy and provide a new governance framework for promoting China’s supply-side structural reform and innovation-driven development strategy stably, sustainably and efficiently.

Key words: Tax Reduction, High-tech “Zombie Firms”, Innovation Ability, Innovation Strategy