银行竞争能抑制公司避税吗?--基于沪深A股上市公司的实证研究  

Can Banking Competition Restrain Corporate Tax Avoidance?Empirical Study Based on A-Shares Listed Companies in Shanghai and Shenzhen

作　　者：曹瑜强 刘鹏 姜凌[2] CAO Yu-qiang;LIU Peng;JIANG Ling(School of Accounting,Guangdong University of Foreign Studies,Guangzhou 510006,China;School of Economics and Trade,Guangdong University of Foreign Studies,Guangzhou 510006,China)

机构地区：[1]广东外语外贸大学会计学院,广东广州510006 [2]广东外语外贸大学经济贸易学院,广东广州510006

出　　处：《财经问题研究》2020年第7期112-120,共9页Research On Financial and Economic Issues

基　　金：国家自然科学基金面上项目“跨境资本流动视角的粤港澳大湾区金融合作与金融风险预警机制研究”(71972057);广东省自然科学基金重点项目“基于全球创新链视角的广东制造业并购整合与产业技术创新问题研究”(2017X030311026);广东省普通高校人文社会科学研究特色创新项目“中国对‘一带一路’沿线国家基础设施投资与我国装备制造业升级研究”(2017WTSCX027)。

摘　　要：本文选取2004—2016年沪深A股上市公司为样本,采用最小二乘法(OLS),实证检验了银行竞争是否以及如何影响公司避税;利用样本分组回归方法,检验了融资约束和银行监督对银行竞争与公司避税的影响;分别使用双重差分模型和工具变量法解决银行竞争与公司避税之间存在的内生性问题,并做稳健性检验。研究发现,银行竞争对公司避税具有显著的抑制效应,且银行竞争通过缓解融资约束和加强银行监督抑制公司避税。进一步研究发现,银行竞争对公司避税的抑制效应在市场化程度较低和规模较小的公司样本中更加显著,稳健性检验结果进一步验证了本文的结论。本文的研究结论对于理解中国银行业市场化改革如何微观影响公司行为具有重要意义。In recent years,the market-oriented reform of the Bank of China has been deepening,and the degree of bank competition has been increasing,which has an important impact on corporate behavior.This paper selects 2004-2016 A-share listed companies in Shanghai and Shenzhen as samples to test whether and how bank competition affects corporate tax avoidance,and uses the dual difference model and instrumental variable method to solve the endogenous problem between bank competition and corporate tax avoidance.It is found that bank competition has a significant inhibitory effect on corporate tax avoidance,and bank competition restrains corporate tax avoidance by easing financing constraints and strengthening bank supervision.Further research shows that the restraining effect of bank competition on corporate tax avoidance is more significant in the company samples with low degree of marketization and small scale.The conclusion of this paper is of great significance to understand how the market-oriented reform of Bank of China affects the behavior of micro companies.

关 键 词：银行竞争 公司避税 融资约束 银行监督 

分 类 号：F270.3[经济管理—企业管理]