税收征管柔性化与企业ESG表现  

Flexibility of Tax Collection and Performance of Enterprise ESG

作　　者：张翼飞 张双龙 刘奥 Zhang Yifei;Zhang Shuanglong;Liu Ao(School of Accounting,Hangzhou Dianzi University,Hangzhou 310018,China;School of Finance and Taxation,Zhongnan University of Economics and Law,Wuhan 430073,China;Chinese Academy of Fiscal Sciences,Beijing 100142,China)

机构地区：[1]杭州电子科技大学会计学院,浙江杭州310018 [2]中南财经政法大学财政税务学院,湖北武汉430073 [3]中国财政科学研究院,北京100142

出　　处：《浙江大学学报(人文社会科学版)》2024年第12期57-73,共17页Journal of Zhejiang University:Humanities and Social Sciences

基　　金：国家社会科学基金重点项目(20AJY024);教育部人文社会科学基金一般项目(24YJC790239);中国财政科学研究院研究生院博士研究生资助课题(CBD202407)。

摘　　要：以惩罚为核心的税务检查、稽查等执法措施借助行政强制力督促企业依法纳税,却加重了企业负担,迫使企业通过放弃环境保护、社会责任、治理能力改进等利他行为来遵从法定义务,那么以激励为重要导向的柔性化举措能否弥补企业行为“重法轻德”的不足?研究结果发现:新政实施后,纳税信用越优异的企业ESG表现提升越明显。这一方面缘于纳税信用优异的企业能享受到更多融资优待和便利,使融资约束得到有效缓解,从而借助外部条件的改善为ESG表现提升提供了能力保障;另一方面缘于企业内部管理者对逃税的态度趋于厌恶,该类行为“惯性”为企业重视ESG表现注入了动力。异质性分析发现,经营所在地税务机关运用微博、微信披露A级纳税人名单的企业ESG表现提升更明显。研究结论为如何通过制度创新使企业将ESG行为融入理性经营决策,实现自身价值和社会价值统一提供了启示。ESG(Environmental,Social and Governance)investment,as an important action to implement the new development concept,has increasingly become an integral part of rational business decision-making.However,when ESG behavior obligations are not subject to legal constraints,enterprises tend to prioritize productive investments with shorter-term and higher-return outcomes,such as adding mature production lines and employing cheap labor.On the contrary,enterprises tend to overlook non-productive investments such as ESG behavioral improvements with more uncertain outcomes realized over the longer run.If this tendency orientation problem remains unaddressed,it may dissociate enterprises’s moral obligations from its business decisions.Faced with the uncertainties introduced by stringent information-based tax collection and management on retained earnings,post-tax income and future investment impacts,can flexible tax policy innovations help address these issues and promote alignment between corporate self-interest and social value?Based on the panel data of listed companies from 2011 to 2019 and the generalized DID model,this paper empirically evaluates the changes of ESG performance of different tax credit companies after the implementation of the new tax credit rating policy in 2014,and analyzes the reasons for the differences and the information disclosure factors affecting the actual effect of the policy.The empirical results show that after the implementation of the new policy,the ESG performance of enterprises has been steadily improved,and the improvement is positively correlated with the tax credit rating,reflecting that enterprises with excellent tax credit have stronger enthusiasm to implement altruistic behavior.Heterogeneity analysis shows that if tax authorities use new media like Microblog and WeChat to strengthen the disclosure of A-level taxpayers,the ESG performance of enterprises will be more obvious.The marginal contribution of this paper is reflected in three aspects.Firstly,based on the comprehensive co

关 键 词：纳税信用评级 融资约束 企业逃税 信息披露 企业ESG表现 

分 类 号：F27[经济管理—企业管理]