中文摘要：

经济效益、技术创新、结构优化、绿色发展是转型升级的主要内涵。税式支出和财政补贴是最为常见的财税激励工具。本文对工业行业按要素密集度进行了分类,实证检验了研发税式支出和财政补贴对工业企业转型升级的激励效应及差异。结果表明：从整体上看,与财政补贴相比,税式支出对大中型工业企业的转型升级激励作用更为显著;按要素密集度分行业来看,税式支出对高新技术行业的激励作用更为明显。

英文摘要：

Economic efficiency, technological innovation, structural optimization and green development are the main connotation of transformation and upgrading. Tax expenditure and financial subsidies are the most common incentive tools of fiscal policy. This paper classified the industrial sector by the factor-intensive, and empirically tested the incentive effect＇s difference between R＆D tax expenditure and financial subsidy on transformation and upgrading. The results show：（1）On the whole, the tax expenditure has a more significant effect on transformation and upgrading of large and medium-sized industrial enterprises than that of financial subsidy; （2）According to the factor-intensive industry, tax expenditure has a more obvious incentive for high-tech industries.