企业所得税优惠对建立企业年金的影响实证分析——基于上市公司企业所得税实际税负压力的视角

An Empirical Study on the Effect of Enterprise Income Tax Preference on the Establishment of Enterprise Annunity:From the Perspective of Listed Companies’Actual Corporate Income Tax Burden

为提高企业的年金参与率、促进我国全方位多支柱养老保障体系的构建,本文选取沪深2016—2019年A股上市公司为样本,研究企业所得税优惠对企业建立年金制度的影响。本文发现:企业所得税优惠对建立年金制度的影响呈现倒U型,企业融资成本可以有效调节企业所得税优惠与建立企业年金之间的非线性关系。国有性质、制造行业以及中部地区的企业建立年金受企业所得税优惠的激励作用更明显。为更好发挥企业所得税优惠对建立企业年金的促进作用,本文建议改进激励年金建立的企业所得税优惠方式,并针对企业特征区别制定促进年金发展的企业所得税优惠政策。

Increasing the annuity participation rate of enterprises is conducive to the construction of an all-round multi-pillar pension security system in China.This paper selects A-share listed companies in Shanghai and Shenzhen from 2016 to 2019 as samples to study the impact of the corporate income tax preference on the establishment of the annuity system.The results show that the impact of the corporate income tax preference on the establishment of the annuity system is inverted U-shaped,and the enterprise financing cost effectively regulates the nonlinear relationship between the corporate income tax preference and the establishment of the enterprise annuity system.The incentive effect of the corporate income tax preference is more obvious for state-owned enterprises,manufacturing industries and enterprises in the east region to establish the annuity system.In order to give full play to the promotion effect of the corporate income tax preference on the construction of enterprises’annuity system,this paper suggests that the corporate income tax preference methods be improved to promote the establishment of enterprise annuity,and the preferential policies for the corporate income tax be formulated according to the characteristics of different enterprises.