制度环境、税收规避和商业信用——来自我国上市公司的经验证据

Institutional Environment,Tax Avoidance and Trade Credit— Empirical Evidence from Chinese Listed Companies

文章以我国2004-2013年沪、深两市A股非金融类上市公司为研究对象,采用修正了的会税差异作为衡量税收规避的指标,考察了税收规避对企业商业信用的影响以及在不同制度环境下税收规避对企业商业信用影响的差异性。研究发现,税收规避会降低企业的商业信用,不同的制度环境会影响税收规避对企业商业信用的作用关系。这些研究结论对于深入理解税收规避与企业商业信用的关系、拓宽税收规避影响企业价值的具体路径以及加强制度建设等方面都具有一定的价值和意义。

This paper conducts a survey on the impacts of tax avoidance on trade credit and their differences in different insti- tutional environment, taking Chinese nonfinancial A-share listed companies in Shanghai and Shenzhen stock ex- changes from 2004 to 2013 as the research samples, adopting book-tax differences without earnings management as a measure for tax avoidance. The results demonstrate that tax avoidance decreases trade credit and institutional envi- ronment plays a role in the relationship between tax avoidance and trade credit. These findings will be of certain value and significance to deeply understand the relationship between tax avoidance and trade credit, widen the spe- cific path of the impact of tax avoidance on corporate value and strengthen the institutional improvement.