“营改增”对交运企业信息披露质量的影响

The impact on the information disclosure quality to listed transportation enterprises by the reform from Business Tax to VAT

为实现企业减税降负目的,国家从2016年5月1日起全面推开"营改增"试点工作。为研究在这一政策的实施下,"营改增"将会如何影响我国交通运输业上市公司信息披露质量,本文将采取实证分析方法,选取涉及营改增政策的28家在深交所上市的交通运输业公司,分析2010—2015年以来的财务数据,以信息披露评级作为信息披露质量的替代变量,建立相关模型,得出"营改增"能够提高企业信息披露质量的结论;公司规模、净资产收益率均对企业信息披露评级正向促进;资产负债率与企业信息披露评级的相关性系数和回归系数均为负,则对其呈现负相关关系;而第一大股东持股比例未通过相关性假设检验,可见对其影响作用不明显。

In order to achieve the purpose of reducing corporate tax cuts,from May 1st,2016,the state onwards to fully open the 'BT to VAT' pilot work in China.Under the implementation of this policy,how will the reform from 'BT to VAT'affect the information disclosure quality in China's Transportation Enterprises? This thesis takes the empirical analysis methods,and selects the 28 listed transportation enterprises involved in 'BT to VAT' policy on the Shenzhen Stock Exchange as samples to analyze the financial data during 2010—2015.The information disclosure rating is used as an alternative to the quality of information disclosure and to build related mode to found that 'BT to VAT' can improve the enterprise information disclosure quality;the scale of the enterprise and the rate of return from net assets will promote the information disclosure quality positively;the debt ratio of assets forms a negative influence for the correlation coefficients and regression coefficients to information disclosure quality to get a negative correlation;however the proportion of the largest shareholder with the shareholding can not pass the correlation hypothesis test,so the influence to it is not obvious.