| This study explores the influence of R&D tax incentives on fintech innovation among high-tech firms in China, focusing on how such incentives can alleviate financing constraints. Analyzing data from all listed high-tech companies in China from 2011 to 2021, the research employs a two-way fixed effects model, complemented by heterogeneity tests based on firm ownership and geographical location. Results indicate R&D tax incentives significantly enhance innovation by easing financing constraints, with non-state-owned enterprises and firms in Eastern China benefiting most. This suggests R&D tax incentives are vital for fostering innovation in the high-tech sector, particularly for companies facing financing barriers. |
