减税降费、融资纾困与企业高质量发展

Tax and Fee Cuts,Financing Relief and High-Quality Development of Enterprises

为推动经济高质量发展,我国近年实施了系列减税降费政策。企业能否将政策红利转化为高质量发展的动力,对于我国加快构建新发展格局、实现中国式现代化具有重要意义。本文利用中国工业企业数据实证考察减税降费政策对企业高质量发展的影响效应。研究发现,减税降费政策能够显著促进企业高质量发展;通过机制检验证实,减税降费政策有利于帮助企业融资纾困,增加企业高质量发展所需的内源资金。进一步分析发现,减税降费政策对企业高质量发展的激励效应在民营企业和金融发展水平较低地区的企业样本中更为显著,并且这一激励效应随着时间推移会逐步收敛。本文研究结果可为进一步优化减税降费政策以及企业积极进行税负消转等提供启示。

In order to promote high-quality economic development,China has implemented a series of tax and fee cuts policies in recent years.Whether enterprises can transform policy dividends into a driving force for high-quality development is of great significance for China to accelerate the construction of a new development pattern and realize Chinese path to modernization.The paper uses the data of Chinese industrial enterprises to empirically examine the impact of tax and fee cuts on the high-quality development of enterprises.It is found that tax and fee cuts policy can significantly promote the high-quality development of enterprises.Through mechanism test,it is confirmed that tax and fee cuts are conducive to helping enterprises finance and increase the endogenous funds required for the high-quality development.It is also found that the incentive effect of tax and fee cuts on the high-quality development of enterprises is more significant in the sample of private enterprises and enterprises in areas with lower level of financial development,and this incentive effect will gradually converge over time.The research findings can provide enlightenment for further optimizing tax and fee cuts policies and for enterprises actively eliminating and transforming tax burdens.