119049 Moscow, Russia
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Head of Corporate Finance Research Center, Dr., tenured professor
The HSE School of Finance is the leading Russian competence center in the field of corporate finance, business valuation, banking, stock market, risk management and insurance, accounting and audit.
Our university is the only one in Russia in the global ranking "QS - World University Rankings by subject", 2017/2018 in the subject area of Accounting and Finance. Moreover, the university is the 1-st in the rating "THE World University Rankings by subject" in the subject area of Business & Economics, 2017/2018
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The authors found evidence that corporate taxation has a significant impact on performance, but the direction could be ambiguous. Impact of the corporate tax rate on performance in general sample is significantly negative, which is consistent with results obtained by authors for the non-innovative companies. However, for further examination, the authors use subsamples of companies with different R&D tax incentive programs. The effect of corporate tax becomes positive under the patent box program only. Moreover, under various R&D tax incentive program, the impact of main control variables has changed. Therefore, the authors conclude that not only corporate taxation but also R&D tax incentive programs significantly influence the performance of innovative companies.
Citation: Makeeva, E., Murashkina, I. and Mikhaleva, I. (2019), "The impact of R&D tax incentive programs on the performance of innovative companies", Foresight, Vol. 21 No. 5, pp. 545-562. https://doi.org/10.1108/FS-06-2018-0063
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