摘要
逐步推广的"营改增"改革相当于一种"自然实验",本文选取了239家上市公司2007-2013年的面板数据,用双重差分模型研究了该政策对企业投资、劳动雇佣以及研发行为的影响。结果表明,"营改增"显著促进了企业总投资,不过在房地产市场及企业规模等因素的干扰下,对设备类固定资产及部分无形资产投资促进作用并不明显,不过人均资本量却得到了显著提高;"营改增"对劳动力雇佣没有实际影响,但显著提高了工资水平;同样,改革也在一定程度上有益于企业研发投入。根据研究结果,本文也对"营改增"后续改革提出了政策建议。
Taking use of the panel data of 239 Chinese listed companies from 2007 to 2013 ,the paper analyzes the effect on business investment, R＆D and labour employment of the replacement of business tax by VAT policy which can be seen as a natural experiment. Our analysis shows that the policy obviously increased the total investment of companies while the improve- ment effect on machine and equipment assets as also as intangible assets was not so obvious because of the real estate market and the company scale. The policy also weakly reduced the labour employed and improved the average pay level at the same time. At last the study told us the policy was helpful to increase the R＆D investment to some extent. Our paper also gives some suggestions for the following tax reform.
出处
《中国经济问题》
CSSCI
北大核心
2015年第4期3-13,共11页
China Economic Studies
基金
国家自然科学基金项目(71373220)
国家社科基金项目(13BJY149)
中央高校基本科研业务费(2009ZK1007)的资助
关键词
“营改增”
投资
研发
劳动雇佣
双重差分模型
replacement of business tax by VAT
business investment
R＆D
labour employment
Difference-in-Difference model
