摘要
本文利用中国A股制造业上市公司2007-2016年的面板数据,尝试从企业税负与业绩之间的动态运动关系来揭示企业税负痛感产生的内在动因。研究表明,在税制结构、税收转嫁困境和稳定性经营三因素作用下企业税负相对于业绩呈现出粘性特征,即相对于业绩上升所带来的税负增加大于业绩下降所引起的税负减少。税负粘性是税负痛感产生的内在动因,为解释企业税负痛感提供了理论支撑。进一步研究发现,市场地位、产权性质、避税行为和成长性等因素会影响企业税负粘性程度,具体表现为市场地位越高、国有企业、避税程度越小和具有成长性的企业具有更强的税负粘性,从而在业绩下降时承受更大的税负痛感。研究结论有利于企业理性对待当前的税负状态,也为税制改革提供参考。
Based on the panel data of Chinese A-share manufacturing listed companies from 2007 to 2016,this paper attempts to reveal the intrinsic motivation of corporate tax pain from the dynamic relationship between corporate tax burden and operating performance. The results show that under three factors of tax structure,tax transfer dilemma and stable operation,the tax burden of enterprises is sticky relative to performance,that is,the increase of tax burden relative to performance is greater than the decrease of tax burden caused by performance decline. The stickiness of tax burden is the intrinsic motivation of corporate tax burden"pain",which provides theoretical support for explaining the pain of enterprise tax burden. Further research finds that many factors such as market status,property rights,tax avoidance behavior and corporate growth will affect the degree of tax stickiness,specifically enterprises with higher market position,stateowned enterprises,enterprises with lower tax avoidance degree,growth-oriented enterprises have stronger tax stickiness,which will bear greater tax pain when performance declines. The conclusion of the study is helpful for enterprises to treat the current tax burden rationally,and also provides a reference for tax system reform.
引文
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