税收征管数字化、企业创新与高质量发展

Digitalization of Tax Administration,Enterprise Innovation and High-Quality Development

税收治理在国家治理中发挥着基础性、支柱性和保障性作用。以“金税三期”上线试点作为准自然实验,研究发现中国政府税收征管数字化在短期内显著抑制了企业高质量发展,但长期动态效应呈现“先抑后扬”态势。税收征管数字化产生上述影响的主要中介路径是倒逼企业加大创新投入,而创新投入的生产率溢出存在“由负转正”的时滞变化过程;企业财务杠杆和资本-劳动比并未支配显著因果流。税收征管数字化的创新投入激励和生产率冲击一致地偏向作用于工业企业、民营企业和股权分散企业。

Tax administration plays a fundamental,pillar and safeguard role in national governance system.This paper takes China's"Golden Tax-III"as the quasi natural experiment,and empirically proves that digitalization of tax administration(DTA)significantly inhibits current high-quality development(HD)of Chinese enterprises in the short-term,but the long-term dynamic effect presents the situation of"shift from negative to positive".The intermediary path for DTA affecting HD is to encourage innovation investment,and the productivity spill-over effect of which presents time lag of"shift from negative to positive";the financial leverage and capital-labor ratio do not have obvious cause-effect relation.The innovation incentive and productivity shock of DTA are more significant in industrial enterprises,private enterprises and enterprises with decentralized shares.