| Summary: | 碩士 === 長榮大學 === 經營管理研究所 === 101 === Over the years, the Government assists industries in investment and development, the most direct incentives for enterprises is the investment tax credit. Investment tax credits went through "Statute for the Encouragement of Investment", "Statute for Upgrading Industries" and "Industrial Innovation Act", with now the period of "Industrial Innovation Act". "Industrial Innovation Act" is in the same direction of tax reform, the act of income tax rate cut to 17% and narrowing the scope of industries tax incentives. The sample was collected from Taiwan listed electronics companies with investment tax credit disclosure in the financial report of 2010-2011. In this research, we use regression analysis as the primary method to research the impacts of investment tax credits from the Statute for Industrial Innovation and the past Statute for Upgrading Industries, and R&D expenditure on corporate performance in the electronics industry.
The model assumes the Tobin's Q as the proxy variable of the corporate performance. And the main independent variables are investment tax credits from the Statute for Industrial Innovation, the past Statute for Upgrading Industries, and the R&D expenditure. The empirical results show:
1. Investment tax credit from the past Statute for Upgrading Industries has no significant effect on the electronics companies as a whole and OTC electronics companies corporate performance but has significant negative effect on listed electronics companies corporate performance.
2. Investment tax credit resulted from R&D expenditure from Industrial Innovation Act has positive and significant effect on electronics companies as a whole and also on both listed and OTC groups.
3. R&D expenditure has positive and significant effect on electronics companies as a whole and also on both listed and OTC groups.
Keywords: Industrial Innovation Act, Investment Tax Credit, R&D Expenditure , Corporate Performance
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