R&D Investments and Tax Incentives: The Role of Intra‐Firm Cross‐Border Collaboration*
研究发现，美国跨国公司内部跨境研发合作越广泛，研发强度与税收激励的正向关联越强，尤其在知识产权保护弱、本地创新资源丰富的国家，这种合作帮助企业更高效地利用税收优惠。
ABSTRACT U.S. multinational corporations increasingly use intra‐firm, cross‐border research collaboration to disperse R&D across different countries. This paper investigates the implications of such collaboration on the abilities of firms to garner benefits from R&D tax incentives. We find that the association between R&D intensity and tax incentives is three to five times larger when firms have extensive cross‐border collaboration connected to a country. We also find that the effect is stronger when local intellectual property protection is weaker and when local innovation resources are higher. Our results suggest that cross‐border collaboration helps firms achieve more tax‐efficient R&D investments both by reducing the nontax frictions posed by weak intellectual property protection and by increasing the nontax benefits of foreign R&D.