基于VAR模型评估税收优惠政策对饲料上市企业绩效的影响

Effect of preferential tax policies on the performance of feed listed enterprises in China based on VAR model

文章基于VAR模型,以我国12家饲料上市企业为研究对象,选取2015〜2019年的面板数据,引入研发强度、投资规模两大变量,评估税收优惠政策对企业绩效的影响。结果显示,税收优惠政策对饲料上市企业绩效提升有显著促进作用,绩效提升效果与企业税收优惠获取能力呈正相关。研究发现,研发强度与投资规模显著影响税收优惠政策对饲料上市企业绩效的激励作用。企业研发强度越高、投资规模越大,税收优惠政策对企业绩效提升的促进作用越强。研究结果与事实基本相符,可为饲料上市企业经营者提升绩效提供参考。

The paper regards 12 feed listed companies in China as the research target,selects the panel data from 2015 to 2019,and introduces research and development intensity and investment scale based on VAR model in order to evaluate the influence of preferential tax policies on company performance.The results show that the government's preferential tax policies can significantly promote the performance of feed listed enterprises,and the effect of performance improvement is positively correlated with the ability of enterprises to obtain preferential tax policies.Further study found that R&D intensity and investment scale significantly affect the incentive effect of preferential tax policies on feed listed companies'performance.The higher the R&D intensity and the larger the investment scale,the stronger the promotion effect of the government's preferential tax policies on the enterprise performance.The results are basically conform to the facts,which can provide reference for feed listed enterprises operators to improve the performance.