企业年金计划对企业资产负债率的影响分析  

作　　者：殷俊[1] 王文祥[2] 

机构地区：[1]武汉大学社会保障研究中心,湖北武汉430072 [2]中国人寿保险股份有限公司,北京100020

出　　处：《保险研究》2008年第7期70-73,共4页Insurance Studies

基　　金：教育部人文社科规划项目(05JA630038)-<中国企业年金保险制度创新与发展研究>。

摘　　要：开办企业年金计划企业的会计报表显示,其财务杠杆率相对企业的举债能力而言普遍偏低,但是,如果企业把年金计划的偿付责任作为企业长期负债合并到企业资产负债表中,则这类企业的低财务杠杆率相对于最优财务杠杆率的差距将减小。本文从企业年金缴费对应征税收入影响和会计处理的角度,分析企业年金计划对企业边际税率和企业资本结构调整的作用。The accounting reports of companies which have established corporate annuity programs showed that their financial leverage is lower than their ability to borrow. But after integrating the pension liabilities into their balance sheets as a long-term liability, we would find that the different between their leverage and the optimal leverage is narrowed significantly. This paper discussed the effect of corporate annuity program on an enterprise＇s marginal tax rate and adjusted capital structure from a taxable income and accounting treatment perspective.

关 键 词：企业年金 负债率 年金负债 税收利益 

分 类 号：F840.67[经济管理—保险]