摘要(英) |
In April 16 2010, Legislation Yuan passed "Statute for Industrial Innovation" which is substantially omitted preferential content in the original "Statute for Upgrading Industry". This study investigates whether the new enactment lead to adverse impact on R&D investment of Taiwan′s electronics industry.
This paper begins with the introduction of "Statute for Industrial Innovation" and the past regulations about R&D tax credit, and then based on the 2003-2014 financial information of the listed electronics companies; explore R&D activities of the electronic technology industry after the implementation of "Statute for Industrial Innovation" by a fixed effect regression model. The empirical results show that "Statute for Industrial Innovation" indeed significantly reduces R&D investment of Taiwan′s electronics industry. R&D intensity of the whole electronics industry decrease about 2.5%. As for individual sub-industry, there is a decline of 2.8% in the semiconductor industry, while for both the computers and peripherals industry and electronic components industry, R&D expenditures are not affected. Furthermore, in accordance with the firm scale for the sample size distinction, estimated results display that the implementation of "Statute for Industrial Innovation” has no significant change on large-scale semiconductor manufacturer’s R&D investment, but the small semiconductor manufacturers’ is significantly decreased. |
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