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• Main Authors: Chin-yun Wang, 王謹韻
• Other Authors: Eric-C Wang
• Format: Others
• Language: zh-TW
• Published: 2008
• Online Access: http://ndltd.ncl.edu.tw/handle/29121350372927041644

碩士 === 國立中正大學 === 國際經濟所 === 96 === In the past, Taiwan executed several tax credit policies, such as “Implementation of Statute of Investment Encouragement” and “Implementation of Statute for Upgrading Industries” to encourage the enterprises to invest in R&D. These regulations were proposed to make the government sacrifice part of its tax revenue in the shortrun in exchange for increase in enterprise investment and R&D expenditure, which are believed to be able to promote the long-term growth of the national economy. However, it is concerned that whether additional investment in R&D induced by tax credit indeed increases R&D innovation in the past. This paper considers the R&D activity as a production process and utilizes the annual financial statements from the year 1998 to 2005 of semiconductor firms listed on the Taiwan Securities Exchange as sample to review the issue of whether corporate R&D efficiencies are influenced by the tax credit of the items of R&D and Personnel Training Expenses. We use the stochastic frontier analysis (SFA) method and divide the sample firms into IC manufacturing (five companies), IC design (eight companies) and the aggregate of semiconductor industry (thirteen companies) as a whole. We apply the Battese and Coelli (1992) model and the Battese and Coelli (1995) model and adopt the extended Cobb-Douglas production function to estimate the efficiency. The results of empirical study can be summarized as below: 1. Upon choosing R&D tax credit of the national average as environment variable the results of the IC manufacturing and design industries show that the industrial output did not increase，but R&D efficiency in IC design industries was decreased. For the aggregate of semiconductor industry as a whole, the result shows that R&D tax credit increased the R&D researchers’ output slightly, but it did not increase R&D efficiency. It indicates that R&D tax credit had no help in improving the R&D efficiency of semiconductor's industry in the sample period. 2. The result also indicates that R&D tax credit was able to increase the industry’s overall technical efficiency slightly.