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International tax incentives, cross-border research and development, and corporate innovation performance

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  • Feng, Chenyang

Abstract

Based on a sample of multinational firms from 2012 to 2022, this study uses empirical models to examine the impact of R&D tax incentives on corporate innovation. We find that tax incentives can greatly enhance a firm's R&D expenditures. However, innovation performance is not significantly improved. The results suggest firms merely transfer their R&D activities from countries with low tax subsidies to countries with high tax subsidies, and the real effect of tax incentives on boosting innovation is limited. This study provides valuable insights to practitioners by shedding light on the impact of tax incentives on innovation outcomes.

Suggested Citation

  • Feng, Chenyang, 2024. "International tax incentives, cross-border research and development, and corporate innovation performance," Finance Research Letters, Elsevier, vol. 66(C).
    • Handle: RePEc:eee:finlet:v:66:y:2024:i:c:s1544612324006767
    DOI: 10.1016/j.frl.2024.105646
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