"Business tax replaced with VAT", industry tax reduction and corporate total factor productivity improvement(PDF)
《长安大学学报（社科版）》[ISSN:1671-6248/CN:61-1391/C]
- Issue:
- 2020年05期
- Page:
- 29-43
- Research Field:
- 经济学
- Publishing date:
Info
- Title:
- "Business tax replaced with VAT", industry tax reduction and corporate total factor productivity improvement
- Author(s):
- YANG Yang; Li Ziyue
- International School of Business & Finance，Sun Yatsen University，Zhuhai 519082，Guangdong，China
- Keywords:
- "business tax replaced with VAT"; total factor productivity; differenceindifference; corporate R&D; specialized division of labor
- PACS:
- F812
- DOI:
- -
- Abstract:
- In order to explore the impact and the mechanism of the "business tax replaced with VAT" policy on total factor productivity of enterprises, this paper sets up a theoretical model using the data of Chinese listed companies from 2000 to 2017, and applies the differenceindifference method to empirically test how the "business tax replaced with VAT" policy affects the total factor productivity of enterprises through tax reduction effect, R&D effect and division of labor effect. Then, this paper examines the differential impact of the "business tax replaced with VAT" reform on the productivity of heterogeneous enterprises through regression of the sample enterprises of different capital intensity, corporate scale and industry correlation. According to the research, the "business tax replaced with VAT" reform has reduced the tax burden of Chinese enterprises, meanwhile improving the total factor productivity of Chinese enterprises by increasing corporate R&D investment and enhancing specialization in the industrial chain; the R&D innovation effect reflects the greater Schumpeter effect on the R&D of large scale enterprises, while the promoting role of specialized division of labor effect brought by the "business tax replaced with VAT" in the improvement of total factor productivity depends on the integrity of the industrial chain; the tax reform has enhanced the impact of the level of specialized division of labor of enterprises in industries with high industrial correlation degree on the total factor productivity, and plays a negative role in the improvement impact of the level of specialized division of labor of enterprises in industries with low industrial correlation degree on the total factor productivity.
Last Update: 2020-10-27