名义税率提高对企业债务期限结构的影响分析——基于我国2008年新企业所得税法实施的研究  

Impact of the Increasing of Nominal Tax Rate on the Enterprises' Debt Maturity Structure ——A Study Based on the Implementation of “The New Law on Corporate Income Tax”in 2008 in China

作　　者：薛伟[1] 

机构地区：[1]厦门大学管理学院,福建厦门361005

出　　处：《税务与经济》2014年第3期83-89,共7页Taxation and Economy

摘　　要：以我国2008年新企业所得税法的实施为制度研究背景,运用差分再差分模型考察企业所得税率提高对企业债务期限结构的影响。研究发现:名义税率提高将使企业的债务期限结构显著提高;名义税率提高会导致不同性质企业的债务期限结构都有所提高,但相对于国有企业,非国有企业债务期限结构的提高更为显著;由于税收政策滞后效应的存在,2008年样本企业的债务期限结构没有明显提高,而2009年随着税收政策效应的逐渐释放,企业的债务期限结构开始显著提高。这将有助于我们进一步认识外部环境(经济政策)的变化对企业财务行为产生的影响,并提供经验借鉴和理论参考。In the context of the implementation of ＂The New Law on Corporate Income Tax＂ in 2008, a study is conducted to analyze the impact of the increasing of nominal tax rate on the enterprises＇ debt maturity structure by using the difference-in-difference model. The result shows that the increasing of nominal tax rate could improve the debt maturity structure of different enterprises. But compared to state-owned enterprises, the improvement of the debt maturity structure of non-state-owned enterprises is more significant. But due to the lag effect of tax poli- cy, there was no significant improvement in the debt maturity structure of sample enterprises in 2008. With the gradual release of tax policy effect, this structure began to be better. This will give insight into the impact of the changes of external environment on corporate financial behavior and provide experience and theoretical reference for the practice.

关 键 词：企业所得税改革 名义税率 债务期限结构 差分再差分 

分 类 号：F810.42[经济管理—财政学]