企业议价能力与增值税税负粘性——基于转嫁成本的分析视角

Bargaining Power of Enterprises and the Stickiness of VAT:AnAnalysis Based on Transfer Cost

“营改增”进一步加强和巩固了我国增值税的主体地位,企业增值税税负的二维动态变动规律及其影响因素的研究具有重大价值。本文从增值税税负转稼成本视角,利用2002-2018年中国A股制造业上市公司的面板数据,实证检验了我国制造业上市公司增值税税负相对经营业绩的变动规律以及企业议价能力对增值税税负变动的影响。结果显示:我国制造业上市公司增值税税负变动相对经营业绩变动存在粘性现象,即营业利润下降时,增值税税负下降幅度显著低于营业利润同比上升时,增值税税负上升的幅度。同时,利用产品竞争力和客户依赖度衡量企业议价能力,发现较高的议价能力具有降低企业增值税税负粘性的效应。研究结论表明,供给侧结构性改革政策支持下,企业培育自身核心竞争力,增强议价能力是降低增值税税负粘性程度的重要途径。

“VAT reform”further strengthens and consolidates the main position of value-added tax,and the study of the two-dimensional dynamic change law of corporate VAT tax burden and its influencing factors is of great value.This paper conducts theoretical analysis based on the tax transfer cost,and adopts the panel data of China s A-share manufacturing listed companies from 2002 to 2018 to empirically test the law of changes in the value-added tax burden relative to operating performance and impact of bargaining power of enterprises on the changes of VAT burden.The results show that there is a sticky phenomenon in the changes in the value-added tax burden relative to operating performance of listed companies in China s manufacturing industry.That is,when the operating profit declines,the decrease in the value-added tax burden is significantly lower than when the operating profit increasesby the same proportion,and the increase in the value-added tax burden.At the same time,using product competitiveness and customer dependence to measure the bargaining power of enterprises,we found that higher bargaining power has the effect of reducing the stickiness of corporate VAT taxes.The conclusion of this research shows that with the support of supply-side structural reform policies,it is important for enterprises to cultivate their own core competitiveness and enhance bargaining power to reduce the stickiness of VAT tax burden.