减税降费政策在企业期权价值中的应用——以投资决策视角  

Application of Tax and Fee Reduction Policy in Enterprise Option Value—From Perspective of Investment Decisions

作　　者：马卿格 李育红 Ma Qingge;Li Yuhong(School of Accounting,Xinjiang University of Finance and Economics,Urumqi Xinjiang 830012)

机构地区：[1]新疆财经大学会计学院,新疆乌鲁木齐830012

出　　处：《山东纺织经济》2024年第3期11-15,共5页Shandong Textile Economy

基　　金：国家自然科学基金项目“内部资本市场、实物期权与公司价值一一来自我国系族企业的经验证据”(7206020202)。

摘　　要：企业在决策投资时通常考虑多个因素,其中税收是一个重要的因素。减税降费政策可以鼓励企业进行更多的投资,因此减轻了企业的负担。同时企业期权价值也有助于企业的投资决策,通过计算企业期权价值并将其纳入到企业投资决策中,企业可以更好地评估不同决策的长期影响。文章通过减税降费在企业中投资和价值创造联系起来,引入期权价值进行研究,并得出相应的结论为我国减税降费的研究提供参考和启示。Enterprises usually consider many factors when making investment decisions,among which tax is an important factor.Tax and fee reduction policies can encourage enterprises to make more investment,thus reducing the burden on enterprises.At the same time,the enterprise option value is also helpful to the investment decision of the enterprise.By calculating the enterprise option value and incorporating it into the enterprise investment decision,the enterprise can better evaluate the long-term impact of different decisions.The paper connects investment and value creation in enterprises through tax and fee reduction,introduces option value to conduct the research,and draws corresponding conclusions to provide reference and inspiration for the research of tax and fee reduction in China.

关 键 词：减税降费 企业投资 期权价值 

分 类 号：F276[经济管理—企业管理]