Abstract：Based on the panel data of 678 companies listed on GEM during 2009—2019 and combining with the classification of China's economic regions, this paper uses an empirical test on the ways in which the tax incentives of the total sample and the sub-sample affect the innovation performance of enterprises and the regulating effect of the business environment.The results are as follows.Firstly, tax incentives have a significant positive impact on enterprise innovation performance, and R&D investment plays a partial mediating role in the relationship between the two.Secondly, doing business plays an insignificant regulating role in the direct path of tax incentives affecting innovation performance, and plays a positive and negative regulating role in the front and back half paths of the mediating effect respectively.Thirdly, the effect of tax incentives on R&D investment and innovation performance varies from region to region.The eastern region is consistent with the analysis of the total sample, while the promotion effect of tax incentives on innovation performance of enterprises in central region is not significant, while that of western region is not significant.The research results of this paper have certain reference significance for increasing the intensity of tax incentives, optimizing the doing business and further improving the innovation performance of enterprises.
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