税收征管数字化推动了资本深化吗?——基于金税三期准自然实验的分析  

Does the Digitization of Tax Collection Drive Capital Deepening?Based on the Golden Tax III Quasi-Natural Experiment

作　　者：杨来峰 赖少杰 YANG Laifeng;LAI Shaojie(School of Management,Shandong University,Jinan 250100,China;School of Finance,Jiangxi University of Finance and Economics,Nanchang 330013,China)

机构地区：[1]山东大学管理学院,山东济南250100 [2]江西财经大学金融学院,江西南昌330013

出　　处：《审计与经济研究》2023年第6期97-105,共9页Journal of Audit & Economics

基　　金：国家自然科学基金地区项目(72162019);第72批中国博士后科学基金面上项目(2022M721422)。

摘　　要：资本深化是应对经济下行和人口挑战的必然趋势。因此,基于2008年至2020年中国A股上市公司数据,以金税三期在全国逐步推行为准自然实验,利用渐进双重差分法实证考察税收征管数字化对企业资本劳动比的影响。研究发现,税收征管数字化会通过治理效应增加了企业的外源融资,进而提升了企业资本劳动比。异质性分析结果显示,税收征管数字化对劳动密集型企业、税收征管弱地区企业以及税收转嫁能力强企业的资本劳动比更具提升效应。研究结论有助于厘清税收征管对企业资本劳动比、要素结构的影响机理,为税收征管数字化助力经济转型升级提供了有效解释,丰富了税收征管数字化的经济后果,为推进税收数字化决策提供了理论借鉴。Capital deepening is an inevitable trend to cope with economic downturn and demographic challenges.Therefore,based on the data of China's A-share listed companies from 2008 to 2020,using the gradual implementation of Golden Tax Phase III across the country as a quasi-natural experiment,we empirically examine the impact of tax collection and administration digitization on firms'capital-to-labor ratios by using the asymptotic double-difference method.It is found that tax administration digitization increases firms'exogenous financing through the governance effect,which in turn enhances firms'capital-labor ratio.Heterogeneity analysis shows that the digitization of tax administration has a greater effect on the capital-labor ratio of labor-intensive firms,firms in areas with weak tax administration,and firms with strong tax pass-through ability.The findings of the study help to clarify the mechanism of the impact of tax administration on the capital-labor ratio and factor structure of enterprises,provide an effective explanation for the digitization of tax administration to help economic transformation and upgrading,and enrich the economic consequences of the digitization of tax administration to provide theoretical references for the promotion of tax digitization decision-making.

关 键 词：税收征管 资本深化 资本劳动比 融资约束 治理效应 税收转嫁 

分 类 号：F275[经济管理—企业管理]