税收征管数字化与企业异地投资——基于“金税三期”工程的证据  

Digitalization of Tax Collection and Administration and Enterprise Remote Investment——Based on the Evidence of the"Golden Tax PhaseⅢ"Project

作　　者：崔惠玉[1] 杜淑婷 刘双仪 Cui Huiyu;Du Shuting;Liu Shuangyi

机构地区：[1]东北财经大学财政税务学院 [2]悉尼大学理学院

出　　处：《财政科学》2025年第2期77-97,共21页Fiscal Science

基　　金：国家社会科学基金重大项目“数字化赋能地方财政韧性的机制、路径与政策研究”(项目编号:24&ZD097)。

摘　　要：企业异地投资作为资本跨区域流动的重要表现,对打破市场分割、提高资源配置效率、助推经济高质量发展至关重要。本文基于2009—2021年A股上市公司数据,借助“金税三期”工程实施的契机,构建多期双重差分模型分析税收征管数字化对企业异地投资的影响。研究发现,税收征管数字化显著促进了企业异地投资,并且这一政策效应在投资收益率高的企业、竞争更加激烈的行业以及东部地区的企业中更明显。机制分析显示,税收征管数字化通过提高企业纳税遵从、提高企业风险承担能力以及降低企业委托代理成本的方式来促进企业异地投资。拓展分析表明,税收征管数字化的实施也显著促进了企业跨市投资行为,包括企业在同省异市的投资活动;其数字化升级有效提高了企业劳动投资,进一步促进了就业增长。As an important manifestation of trans-regional capital flow,enterprise investment in different places is of great importance to breaking the market segmentation,improving the efficiency of resource allocation and boosting the high-quality economic development.Based on the data of A-share listed companies in 2009-2021,and taking advantage of the opportunity of the implementation of the"Golden Tax PhaseⅢ"project,in this paper,A multi-stage dual difference model is constructed to analyze the impact of digital tax collection and management on the remote investment of enterprises.The study finds that the digitalization of tax collection and administration has significantly promoted the investment of enterprises in different places,and this policy effect is more obvious in enterprises with high return on investment,industries with more fierce competition and enterprises in the eastern region.The mechanism analysis shows that the digitalization of tax collection and administration promotes enterprise investment in different places by improving enterprise tax compliance,improving enterprise risk bearing ability and reducing the cost of enterprise principal-agent.The expansion analysis shows that the implementation of digital tax collection and administration also significantly promotes the cross-city investment behavior of enterprises,including the investment activities of enterprises in different cities.In addition,its digital upgrade effectively improves the labor investment of enterprises and further promotes the employment growth.This paper provides a new perspective for deeply understanding the economic effects of digitalization of tax collection and administration,and also provides policy inspiration for promoting the cross-regional flow of capital factors.

关 键 词：税收征管数字化 企业异地投资 资本跨区域流动 

分 类 号：F812.42[经济管理—财政学]