税收分成、财政激励与企业绿色创新——来自增值税“五五分成”改革的证据  

Tax Sharing,Fiscal Incentives,and Corporate Green Innovation:Evidence from the Value-Added Tax"Fifty-Fifty Sharing"Reform

作　　者：徐超 蔡瑶琴 柏天蕾 周彩 Xu Chao;Cai Yaoqin;Bai Tianlei;Zhou Cai(School of Finance and Taxation,Shandong University of Finance and Economics,Jinan 250002,China)

机构地区：[1]山东财经大学财政税务学院,250002

出　　处：《南开经济研究》2024年第12期206-226,共21页Nankai Economic Studies

基　　金：教育部人文社会科学研究青年基金项目“地方财政压力对企业杠杆操纵的影响:理论、实证与对策研究”(23YJC790161)的资助。

摘　　要：省以下税收分成变化引发的增收激励是解读地方政府干预策略和本地企业行为的重要视角。基于2016年增值税“五五分成”改革构建强度双重差分模型,采用2012—2020年中国A股制造业上市公司数据,本文实证考察了省以下增值税分成对企业绿色创新的影响。研究结果发现,税收分成比例的提高显著减少了企业绿色专利申请量,表现出明显的绿色创新抑制效应。在更换绿色创新度量指标、控制地区-时间固定效应,以及排除其他同期政策干扰之后,回归结果依旧稳健。机制分析发现,财政激励下的环境规制放松是增值税分成抑制企业绿色创新的关键路径。进一步研究表明,税收分成对非国有企业、高税负行业、重污染行业和弱环境规制地区的样本影响更加显著。本研究为企业的绿色创新行为提供了来自税收体制层面的解读,对于优化省以下税收分成制度和推动经济绿色发展具有重要的参考意义。The increase in income incentives triggered by changes in tax sharing below the provincial level is an important perspective for interpreting local government intervention strategies and local corporate behavior.Based on the 2016 value-added tax"50/50 split"reform,this paper constructs an intensity double difference model and uses data from Chinese A-share manufacturing listed companies from 2012 to 2020 to empirically examine the impact of value-added tax sharing below the provincial level on corporate green innovation.The research results found that the increase in tax sharing ratio significantly reduced the number of green patent applications by enterprises,demonstrating a significant inhibitory effect on green innovation.After replacing green innovation measurement indicators,controlling for cross regional time fixed effects,and excluding other policy interferences during the same period,the regression results remain robust.Mechanism analysis reveals that relaxing environmental regulations under fiscal incentives is a key path for value-added tax sharing to inhibit green innovation in enterprises.Further research indicates that tax sharing has a more significant sample impact on non-state-owned enterprises,heavily polluting industries,high tax burden industries,and areas with weak environmental regulations.This study provides an interpretation of green innovation behavior for enterprises at the tax system level,which has important reference significance for optimizing the tax sharing system below the provincial level and promoting green economic development.

关 键 词：税收分成 财政激励 企业绿色创新 环境规制 

分 类 号：F81[经济管理—财政学]