摘要
基本养老保险是我国现行养老体系的第一支柱,企业是养老缴费的主力军;我国的养老保险企业缴费比例一直处于较高水平,给企业造成了沉重的成本负担与现金流压力。文章以A股上市公司为研究对象,从企业避税行为的角度探讨基本养老保险对微观企业行为的影响。研究发现,基本养老保险的企业缴费比例越高,企业避税程度越大,且两者的正向关系在融资约束程度较高、盈利能力较差以及现金持有水平较低的企业中更显著;进一步考察经济后果发现,基本养老保险对企业避税的促进作用有助于提升企业价值。
Basic pension insurance is the first support of current old-age insurance system of China,and enterprises undertake the main responsibility for pension contributions.While the pension contribution rate in China is relatively high,which causes heavy cost burden and intense cash-flow pressure on enterprises.This paper takes Chinese Ashare listed firms as samples and discusses the influence of basic pension insurance on the behavior of micro enterprises from the perspective of tax avoidance.The results show that the higher the contribution rate of basic pension insurance,the greater the degree of tax avoidance.Further study finds that the promotion effect of basic pension insurance on tax avoidance is more significant in firms with higher degree of finance constraint,poorer profitability and lower level of cash holdings.Finally,the paper finds that the promotion effect of basic pension insurance on tax avoidance increases the firm value.
作者
李金雨
王得力
Jinyu Li;Deli Wang(School of Management,Jinan University,Guangzhou Guangdong 510632,China)
出处
《会计与经济研究》
CSSCI
北大核心
2020年第1期74-95,共22页
Accounting and Economics Research
基金
国家自然科学基金面上项目(71872071)
中央高校基本科研业务费专项资金资助项目(19JNLH08).
关键词
基本养老保险
缴费比例
避税
企业价值
basic pension insurance
contribution rate
tax avoidance
firm value
作者简介
李金雨,暨南大学管理学院硕士生,lee_jinyu@126.com;通讯作者:王得力,暨南大学管理学院博士生,hnwangdeli@163.com。
