企业环保投资对环境保护税的减税效应——基于上市A股重污染企业的实证研究  

The Tax Reduction Effect of Environmental Protection Investment on Environmental Protection Tax——An Empirical Study Based on Listed A-share Heavily Polluting Enterprises

作　　者：谢东明 李维安 Xie Dongming;Li Weian

机构地区：[1]天津财经大学会计学院,300222 [2]南开大学中国公司治理研究院,300071

出　　处：《会计研究》2023年第11期119-132,共14页Accounting Research

基　　金：国家社会科学基金一般项目(17BGL066)的资助。

摘　　要：本文以我国2019-2021年120个主要城市的上市A股重污染企业为研究对象,实证检验了企业环保投资对环境保护税的影响。研究表明:重污染企业通过增加环保投资可以减少环境保护税的缴纳,环保投资对环境保护税具有显著的减税效应,该结论经过一系列的稳健性检验后依然成立。进一步研究发现:企业增加环保设备设施投资和环保设备运行投资对环境保护税均具有显著的减税效应,这说明两种类型的环保投资对于减少环境保护税的缴纳都非常重要;与盈利能力较高、董事长和总经理两职合一的企业相比,减税效应在盈利能力较低、两职分离的企业更为显著,这说明盈利能力较低的企业、两职分离的企业更有动力通过增加环保投资来减少环境保护税的缴纳;环保投资对环境保护税的减税效应在新冠疫情期间仍然显著,这说明面对重大突发公共卫生事件造成的巨大盈利压力,企业仍有动力通过增加环保投资来减少环境保护税的缴纳。本文基于成本收益理论阐述了重污染企业环保投资对环境保护税的影响机理,为企业通过增加环保投资能够减轻环境保护税的纳税负担提供了理论依据和数据支撑,同时也说明国家实施《中华人民共和国环境保护税法》已经取得初步成效。Taking the A-share heavily polluting enterprises listed in 120 major cities in China from 2019 to 2021 as the object of study,this paper empirically examines the impact of environmental protection investment on environmental protection tax.The research shows that heavily polluting enterpri-ses can reduce the payment of environmental protection tax by increasing environmental protection investment,and environmental protection investment has a significant tax reduction effect on environmental protection tax,and the conclusion is still valid after a series of robustness tests.Further study finds that increasing the investment in environmental protection equipment and facilities and operation has a significant tax reduction effect on environmental protec-tion tax,which suggests that both types of environmental protection investment are crucial in reducing the payment of environmental protection tax paya-ble.Compared with enterprises with higher profitability and a combination of chairperson and general manager positions,the tax reduction effect is more significant in enterprises with lower profitability and a separate role of two positions,which indicates that enterprises with low profitability and separation of two positions are more motivated to reduce environmental protection tax by increasing environmental protection investment.The tax reduction effect of en-vironmental protection investment on environmental protection tax was still significant during covid-19,which shows that firms continue to be motivated to mitigate their environmental protection tax via enhancing environment protection investment even a substantial profitability pressure induced by the major public health emergency.Based on the cost-benefit theory,this paper expounds the influence mechanism of environmental protection investment of heavily polluting enterprises on environmental protection tax,thereby providing a solid theoretical foundation and data support for enterprises to relieve the tax bur-den on environmental protection tax by increasi

关 键 词：环保投资 环境保护税 减税效应 成本收益 

分 类 号：X322[环境科学与工程—环境工程] F275[经济管理—企业管理] F832.51[经济管理—国民经济] F812.42