企业所得税改革对内资企业资本投资结构的影响

On the Influence of the Enterprise Income Tax Reform on the Capital Investment Structure of Domestic Enterprises

在Jorgenson的新古典投资模型里,所得税政策通过影响资本使用成本影响企业的最优资本存量,对人力资本投资的产出贡献率大于物质资本。本文基于Jorgenson的理论分析我国所得税改革对内资企业资本投资结构的影响,发现本次企业所得税改革促进了企业资本投资结构的优化,并提出今后的企业所得税改革可以尝试对人力资本投资也采取税收抵免和加速折旧方法,以促进企业加大对人力资本投资的建议。

According to a neoclassical investment model put forward by Jorgenson, income tax policy affects an enterprise＇s optimal capital stock via capital cost and its contribution ratio to human investment more than material capital. On the basis of the Jorgenson theory, this paper analyses the influence of the enterprise income tax retorm on the investment structure of domestic enterprise, and concludes that the investment on human capital and material capital has been promoted and the investment structure of domestic enterprise has been improved through the enterprise income tax reform. It suggests that the tax credit and accelerated depreciation on human capital should be adopted in the follow-up enterprise income tax reform to promote more investment on human capital and thus improve the capital investment structure.