Abstract: Private economy is the main body of the development of China's market economy, and the innovation development of private economy is related to the stability of China's modern economic system. This paper uses the micro-sectional data of private enterprises in Guangdong province in 2018 to empirically analyze the internal logic between tax cut and fees reduction and the high-quality economic development of private enteprises. The research focuses on the heterogeneity of firm. From the perspectives of the revenue scale, technology intensity and employee scale of private enterprises, the paper demonstrates how the reduction of dividend income is attributed among heterogeneous private enterprises after the implementation of tax cut and fees reduction policies. The study finds that substantial tax cut and fees reduction policies are beneficial for large private enterprises in multiple aspects, while there are significant differences for small and medium-sized enterprises. Staff size is positively correlated with tax cut and fees reduction and dividend. The correlation between the scale of revenue and tax cut and dividend varies with the scale of revenue. Some policy suggestions are put forward at he end of the paper according to the conclusions of the study.

Key words: Tax Cut and Fees Reduction, Firm Heterogeneity, Private Enterprises, Innovation Development

摘要： 民营企业创新发展关系到我国现代化经济体系建设和市场经济的繁荣稳定,本文运用民营企业横截面数据,实证分析减税降费与民营企业创新发展之间的内在逻辑。研究视角定位于企业的异质性,从民营企业的营收规模、技术密集度、员工规模等不同角度,探讨减税降费政策实施后减降红利收益在异质性民营企业间的归属。研究发现:实质性减税降费政策对大型民营企业而言是多重利好,对中小型民营企业而言则存在显著差异;员工规模与减税降费红利成正相关,营收规模与减税降费红利的相关性因营收规模不同而有差别。本文基于研究结论提出了相应的对策建议。

关键词: 减税降费, 企业异质性, 民营企业, 创新发展