اندازه شرکت و مشوق های مالیاتی تحقیق و توسعه

This paper examines the effectiveness of R&D tax credits using data on 904 Japanese manufacturing firms over 10 years (1989–1998). I find evidence that tax price elasticity is about −0.68 when estimating it for all firms. This is smaller than those of previous studies, such as Hall (1993. R&D tax policy during the 1980s: Success or failure? In: Potarba, J. (Eds.), Tax Policy and The Economy, vol.7. The MIT Press, Boston, MA) and Bloom et al. (1999. Do R&D tax credits work?: Evidence from an international panel of countries 1979–94. IFS Working Paper No. W99/8). However, considering the firm’s size, the tax price elasticity is −1.03 in large firms. This means that R&D tax credit is effective in increasing R&D investment, especially in such firms.