公司竞争战略对税收规避的影响研究——基于文本分析法的经验证据  

Corporate Competitive Strategy and Tax Avoidance:Evidence Based on Textual Analysis

作　　者：王百强 陈占燎 韩亚东 郝恩琪 Wang Baiqiang;Chen Zhanliao;Han Yadong;Hao Enqi(School of Accountancy/China’s Research and Development Center of Management Accounting,Central University of Finance and Economics;School of Business,Renmin University of China;School of Accounting,Zhejiang Gongshang University)

机构地区：[1]中央财经大学会计学院/中国管理会计研究与发展中心 [2]中国人民大学商学院 [3]浙江工商大学会计学院

出　　处：《南开管理评论》2023年第5期105-114,I0021,I0022,共12页Nankai Business Review

基　　金：国家自然科学基金项目(71902207);教育部人文社会科学研究基金项目(19YJC630162);国家社会科学基金项目(23CGL059)资助。

摘　　要：本文以上市公司年报“管理层讨论与分析”为主要数据源,基于文本分析法构造了上市公司的竞争战略指标,并以此为基础考察了竞争战略对公司税收规避行为的影响。研究发现,相比于实行成本领先战略的公司,实行差异化战略的公司税收规避程度更高。上述关系在企业成长性较高以及外部融资环境较差的情况下更加明显,而在“金税三期”工程实施后以及企业名义税率较低时被削弱。影响机制分析表明,较高的融资需求、较强的风险偏好以及较低的信息透明度是差异化战略公司具有较高税收规避程度的重要机理。本文的研究结论阐明了竞争战略与公司税收规避行为的内在逻辑,丰富了公司竞争战略与税收方面的文献,对于加强税收监管与完善税收治理具有一定的参考意义。Taxation is not only an important source of national fiscal revenue,but also an important basis for ensuring national governance capacity,achieving macro-control objectives,and developing society and the economy.Despite the continuous improvement of the technology in tax collection and management,tax avoidance is still a common global challenge,which has raised the attention of regulators,practitioners and academics.The factors influencing firms’tax avoidance behavior have become an important and meaningful research topic.Porter(1980)suggested that firms can mainly adopt two types of competitive strategies:cost leadership and differentiation.Different competitive strategies adopted by firms mean significant differences in firms’financing needs,willingness to take risks,and information environment.Does a firm’s competitive strategy affect its tax avoidance behavior?What is the influencing mechanism?This is a question yet to be empirically tested.Based on the data of Chinese listed firms from 2008-2019,this study adopts textual analysis to construct measures of competitive strategy of listed firms and focus on the impact of corporate competitive strategy on tax avoidance behavior.The results show that firms with a differentiation strategy tend to have a higher degree of tax avoidance compared with firms with a cost leadership strategy.The tests based on the motivation for tax avoidance show that the impact of competitive strategy on tax avoidance behavior will be more pronounced if the growth opportunities of the firm is higher and the external financing environment is poorer.The tests based on the tax system show that the impact of corporate competitive strategy on tax avoidance behavior is weakened after the implementation of the“Golden Tax Project III”and when firms’nominal tax rate is lower.Further research finds that higher financing needs,stronger risk preference,and lower information transparency are important mechanisms between differentiation strategy and a higher degree of tax avoidance.Extend

关 键 词：竞争战略 成本领先战略 差异化战略 税收规避 

分 类 号：F271[经济管理—企业管理] F832.51[经济管理—国民经济] F275.4