税收竞争水平差异、税务管理能力与企业跨地区并购绩效

发布时间：2018-01-26 12:52

本文关键词： 跨地区并购企业并购并购绩效税收竞争税收竞争水平差异税务管理能力税收效应　出处：《广东财经大学学报》2017年06期 　论文类型：期刊论文

【摘要】：税收竞争水平的差异化分布,为跨地区并购企业进行税务协同及战略资源获取提供了制度套利机会和区域协同空间。基于制度理论和并购协同效应理论,系统分析税收竞争水平差异影响企业跨地区并购绩效的内在机理,以及主并企业税务管理能力的调节效应,以2007年~2013年A股上市公司的跨地区并购事件为样本进行实证检验,发现税收竞争水平差异与企业跨地区并购绩效显著正相关,同时,在顺流并购交易中,企业税务管理能力对税收竞争水平差异与并购绩效的关系具有正向调节效应。从而为地方政府税收竞争策略的制定和企业跨地区并购决策提供了理论指导。
[Abstract]:The differential distribution of tax competition level provides institutional arbitrage opportunities and regional synergy space for cross-regional M & A enterprises to carry out tax coordination and strategic resource acquisition based on institutional theory and merger synergy theory. This paper systematically analyzes the internal mechanism that the differences of tax competition level affect the performance of cross-regional mergers and acquisitions, and the regulatory effect of the tax management ability of the main and concurrent enterprises. Taking the cross-regional M & A events of A-share listed companies from 2007 to 2013 as an empirical test, it is found that the differences in the level of tax competition are significantly positively correlated with the cross-regional M & A performance of enterprises. In downstream mergers and acquisitions. The ability of tax administration has a positive adjustment effect on the relationship between tax competition level difference and M & A performance, thus providing theoretical guidance for local government to formulate tax competition strategy and cross-regional M & A decision.
【作者单位】：山东理工大学管理学院;山东大学管理学院;
【基金】：国家社会科学基金重点项目(14AGL012) 山东省社会科学规划项目(14DGLJ07)
【分类号】：F271;F812.42
【正文快照】： 一、引言税收是驱动企业并购行为并实现并购双方协同效应的重要因素(陈娟,2012)[1]。在跨地区并购过程中,企业会进入税负水平不同的地区,地区间税负水平的异质性特征成为并购企业面临的特殊制度情境。税收竞争水平的差异化,一方面增加了企业税务管理的难度、运作成本及合法

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