公司治理结构与公司所得税逃避关系的实证研究
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摘要
本文在国内外公司逃避税情况凸显的背景下,带着公司治理结构是否影响逃避税行为的疑问,在分析了国内外相关研究之后,通过委托代理理论、有效税收筹划理论、信息不对称理论建立了公司治理结构与所得税逃避程度相关关系的模型,并通过实证分析证明了本文关于管理层特征、监事会特征、股权结构对所得税逃避税影响的推导。
本文的主要研究包括四大部分:第一部分即本文的第一章,主要是对本文的研究背景、研究内容、研究方法做了简单的介绍,并对公司治理结构与所得税逃避的相关理论进行了回顾与分析。第二部分是本文的第二章,简单阐述了公司治理结构与公司逃避税的相关理论,并理论分析了公司治理结构影响公司逃避税的机理。第三部分即本文的第三、四章,通过建立五个模型分析公司治理结构中股权结构、管理层特征、监事会特征三个方面对公司逃避税的影响。第四部分即本文的第五章,在本文理论分析与实证分析的基础上,得出我国公司治理结构影响公司逃避税的结论,对相关问题提出政策性建议,并提出本文的不足与未来需要努力的方向。
本文的主要结论包括:①我国上市公司确实存在所得税逃避现象,且在行业间存在差异,税收优惠政策比较多的行业逃避税程度较低,税收优惠较少的行业逃避税程度较高。②管理层持股比例对逃避税程度有正向影响,持股比例越高逃避税程度越强,持股比例较高的管理层与股东有着一致的效益函数,不惜以降低报表利润与掩盖自己的业绩而选择逃避税行为来提高自己的收益水平。③有效的监事会设置有利于抑制公司的所得税逃避税行为,我们认为监事会会议次数是衡量公司监事会有效性的重要指标,且其与逃避税行为成显著的负相关。④通过参数检验与非参数检验证明国有性质的公司与非国有性质的公司之间的逃避税行为有着显著差异,股权集中度对逃避税行为有促进作用,并且这种作用在非国有企业更加明显。⑤公司规模、净资产收益率、税率、成长能力与逃避税程度呈显著的正相关,而财务杠杆、道德风险与逃避税程度呈显著的负相关。
In the background which tax evasion problem is grave, with this question that how the corporate government structure affect the corporate income tax evasion. We research the relationship between corporate government structure and corporate income tax evasion. First, we analyze the related research on corporate income tax evasion, corporate government structure and the relationship between them at home and abroad. Then, we develop a theoretical model about the relationship between corporate government structure and tax evasion, based on the theories: principal agent theory, effective tax planning theory, asymmetric information theory. Finally, we test our model and hypothesis by empirical research.
The main study included four parts: The first part is mainly about the introductions of the articles’research context, research method and research content, including the charpter1. It also has reviewed and analyzed the relevant basic theories related to corporate income tax evasion and corporate government structure. The second part is the charpter2, it explains the conception and theories about corporate income tax evasion and corporate government structure. The third part which includes charpter3, 4, is the most important part in this paper. It does an empirical study about the relationship of income tax evasion and corporate government structure from the view of ownership structure, management characteristics, and supervisors’characteristics. The fourth part comes to the conclusion about how the corporate government structure affects the level of corporate income tax evasion, and then we put forward a series of policies and some suggestions for both corporate and government. At last, we put out the shortcomings of the article and the future research directions.
The main conclusions of this paper include: (1) There is corporate income tax evasion in the listed company in our country. And there is difference in different industries. The levels of corporate income tax evasion are higher in the industries where there are less tax incentives than the industries where there are more tax incentives. (2)The relationship between managerial ownership and corporate income tax evasion level is positive correlation, the higher the shareholding ratio, the higher the level of tax evasion. Management who holds more share may share the same benefit function as shareholders’, willing to reduce profits and cover up its own report. The results of tax evasion improve their level of return. (3) We believe that the number of meetings one year is an important indicator of the effectiveness of the Board of Supervisors. The frequency of the board of supervisors meeting effects corporate income tax evasion, which and tax evasion behavior was a significant negative correlation. (4) We prove that there is a significant difference between state-owned companies and non-state company by parameter test and nonparametric tests. The degree of ownership concentration can promote the level of corporate income tax evasion, especially in the non-state enterprises. (5) Company size, return on net assets, tax rates and the level of growth is significantly positive correlated with tax evasion, and there are negative relationships between financial leverage, moral hazard and tax evasion.
本文的主要研究包括四大部分:第一部分即本文的第一章,主要是对本文的研究背景、研究内容、研究方法做了简单的介绍,并对公司治理结构与所得税逃避的相关理论进行了回顾与分析。第二部分是本文的第二章,简单阐述了公司治理结构与公司逃避税的相关理论,并理论分析了公司治理结构影响公司逃避税的机理。第三部分即本文的第三、四章,通过建立五个模型分析公司治理结构中股权结构、管理层特征、监事会特征三个方面对公司逃避税的影响。第四部分即本文的第五章,在本文理论分析与实证分析的基础上,得出我国公司治理结构影响公司逃避税的结论,对相关问题提出政策性建议,并提出本文的不足与未来需要努力的方向。
本文的主要结论包括:①我国上市公司确实存在所得税逃避现象,且在行业间存在差异,税收优惠政策比较多的行业逃避税程度较低,税收优惠较少的行业逃避税程度较高。②管理层持股比例对逃避税程度有正向影响,持股比例越高逃避税程度越强,持股比例较高的管理层与股东有着一致的效益函数,不惜以降低报表利润与掩盖自己的业绩而选择逃避税行为来提高自己的收益水平。③有效的监事会设置有利于抑制公司的所得税逃避税行为,我们认为监事会会议次数是衡量公司监事会有效性的重要指标,且其与逃避税行为成显著的负相关。④通过参数检验与非参数检验证明国有性质的公司与非国有性质的公司之间的逃避税行为有着显著差异,股权集中度对逃避税行为有促进作用,并且这种作用在非国有企业更加明显。⑤公司规模、净资产收益率、税率、成长能力与逃避税程度呈显著的正相关,而财务杠杆、道德风险与逃避税程度呈显著的负相关。
In the background which tax evasion problem is grave, with this question that how the corporate government structure affect the corporate income tax evasion. We research the relationship between corporate government structure and corporate income tax evasion. First, we analyze the related research on corporate income tax evasion, corporate government structure and the relationship between them at home and abroad. Then, we develop a theoretical model about the relationship between corporate government structure and tax evasion, based on the theories: principal agent theory, effective tax planning theory, asymmetric information theory. Finally, we test our model and hypothesis by empirical research.
The main study included four parts: The first part is mainly about the introductions of the articles’research context, research method and research content, including the charpter1. It also has reviewed and analyzed the relevant basic theories related to corporate income tax evasion and corporate government structure. The second part is the charpter2, it explains the conception and theories about corporate income tax evasion and corporate government structure. The third part which includes charpter3, 4, is the most important part in this paper. It does an empirical study about the relationship of income tax evasion and corporate government structure from the view of ownership structure, management characteristics, and supervisors’characteristics. The fourth part comes to the conclusion about how the corporate government structure affects the level of corporate income tax evasion, and then we put forward a series of policies and some suggestions for both corporate and government. At last, we put out the shortcomings of the article and the future research directions.
The main conclusions of this paper include: (1) There is corporate income tax evasion in the listed company in our country. And there is difference in different industries. The levels of corporate income tax evasion are higher in the industries where there are less tax incentives than the industries where there are more tax incentives. (2)The relationship between managerial ownership and corporate income tax evasion level is positive correlation, the higher the shareholding ratio, the higher the level of tax evasion. Management who holds more share may share the same benefit function as shareholders’, willing to reduce profits and cover up its own report. The results of tax evasion improve their level of return. (3) We believe that the number of meetings one year is an important indicator of the effectiveness of the Board of Supervisors. The frequency of the board of supervisors meeting effects corporate income tax evasion, which and tax evasion behavior was a significant negative correlation. (4) We prove that there is a significant difference between state-owned companies and non-state company by parameter test and nonparametric tests. The degree of ownership concentration can promote the level of corporate income tax evasion, especially in the non-state enterprises. (5) Company size, return on net assets, tax rates and the level of growth is significantly positive correlated with tax evasion, and there are negative relationships between financial leverage, moral hazard and tax evasion.
引文
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