“留抵退税”政策对制造业上市公司的业绩影响估测研究  

The Performance Influence Estimation of the Policy of Credit Refund on the Manufacturing Listed Companies

作　　者：蔡德发[1] 闫怀予 CAI Defa;YAN Huaiyu

机构地区：[1]哈尔滨商业大学财税研究中心,黑龙江哈尔滨150028 [2]哈尔滨商业大学财政与公共管理学院,黑龙江哈尔滨150028

出　　处：《商业经济》2024年第4期167-170,共4页Business & Economy

基　　金：习近平总书记重要讲话重要指示精神研究专项:黑龙江建好建强国家重型装备生产制造基地的财税政策与激励机制研究(23XZT033);黑龙江省高校智库开放课题(公共政策与现代服务业创新智库):黑龙江省数字赋能传统优势产业财税激励政策研究——以工业智能化转型为例(ZKKF2022066)。

摘　　要：选取2015—2021年上证A股制造业上市公司为研究样本,基于DID双重差分和多元回归模型,探究2018年实施增值税留抵退税政策对12类400家制造业上市公司的业绩影响与影响机制。研究发现:增值税留抵退税政策通过降低公司财务费用与提高主营业务专注度,对公司业绩有积极正向支持作用。这为我国进一步推进增值税留抵退税政策的实施以及相关政策的制定提供了理论支撑,同时为现行复杂的经济形势下公司提升经营业绩提供决策依据。Shanghai A-share manufacturing listed companies from 2015 to 2021 are selected as research samples.Based on DID and multiple regression models,the study explores the performance influence and influence mechanism of the implementation of VAT credit refund policy in 2018 on the 400 manufacturing listed companies of 12 categories.It is found that the VAT credit refund policy has a positive supporting effect on corporate performance by reducing corporate financial costs and improving the focus of main business.This provides theoretical support for further promoting the implementation of VAT credit refund policy and the formulation of relevant policies,and provides decision-making basis for companies to improve their business performance under the current complex economic situation.

关 键 词：增值税 留抵退税 双重差分 

分 类 号：F812.42[经济管理—财政学]