财税补贴对农业上市公司经营绩效的影响研究

发布时间：2018-05-17 08:31

本文选题：税收优惠政策 + 收入补贴政策　；参考：《华中农业大学》2017年硕士论文

【摘要】：农业上市公司是农业先进生产力组织的集合,政府为推动农业产业化发展,采取财税补贴政策大力扶持农业上市公司发展。但随着扶持力度的加大,农业上市公司的经营情况却越来越差,政策实施未达到预期效果。探究财税补贴对经营绩效的影响,可深入了解财税补贴政策实施的效率,改善财税补贴实施结构,从而对提升农业上市公司经营绩效具有重要意义。本文主要研究内容及结论如下:(1)农业上市公司经营现状与财税补贴实施现状及问题分析。本文采用盈利能力、偿债能力、营运能力与发展能力分析了我国农业上市公司的经营情况,运用灰色关联分析法测算了2003至2015年间农业上市公司的季度经营绩效,分析认为我国现阶段农业上市公司经营状况不佳,经营绩效低下;然后分析了财税补贴政策实施的广度与深度,并指出存在的问题。认为财税补贴覆盖面广,扶持力度较大,总体效率低下,主要原因是财税支出结构不合理,实施方式不科学,缺少有效监督。(2)税收优惠和收入补贴对经营绩效综合影响的分析。基于农业上市公司经营绩效的测算结果,本文建立了向量自回归模型,分析财税补贴对经营绩效影响的正负性、滞后性以及贡献程度等,结果表明财税补贴对经营绩效影响并无滞后性,短期内显著提升经营绩效,长期呈现正向影响,影响贡献程度平稳于12%。(3)分析并比较了税收优惠与收入补贴对经营绩效的影响。本文将财税补贴具体细分为税收优惠政策和收入补贴政策,选取单位营业收入税收优惠和单位营业收入补贴作为变量指标,构建VAR模型进行分析。实证表明,财税补贴政策的实施侧重于税收优惠,税收优惠与收入补贴对绩效的影响均无滞后性,税收优惠呈现正向影响,收入补贴为负向影响,收入补贴影响的贡献程度大于税收优惠。(4)北大荒集团案例分析。本文在分析北大荒集团经营现状与财税补助情况的基础上,进一步分析了税收优惠和收入补贴对北大荒经营绩效的影响情况。发现政府对北大荒集团实施财税补贴政策侧重于税收优惠政策,但收入补贴政策却主导了财税补贴对经营绩效的影响,具体表现为前两期是正向影响,短期内显著提升经营绩效,第三期是负向影响,长期则不利于经营发展。(5)对策建议与可能的创新点。本文认为政府实施财税补贴政策有利于扶持农业上市公司的发展,建议政府对农业上市公司长期实施财税补贴政策,将补贴收入政策作为辅助工具,侧重于税收优惠政策,建议企业合理利用财税补贴资金,增强自身竞争力进行可持续发展。本文主要的创新点有以下两点:(1)构建VAR模型分析财税补贴对农业上市公司经营绩效的影响,不仅可知影响的正负性,还可知影响的变化情况、贡献程度等。(2)具体实证了税收优惠和收入补贴对经营绩效的影响,并作深入对比分析。
[Abstract]:Agricultural listed companies are the collection of advanced agricultural productive forces. In order to promote the development of agricultural industrialization, the government has adopted the policy of fiscal and tax subsidies to support the development of agricultural listed companies. However, with the increase of support, the management of agricultural listed companies is getting worse and worse, and the implementation of the policy has not achieved the expected results. To probe into the influence of fiscal and tax subsidies on operating performance, we can deeply understand the efficiency of the implementation of fiscal and tax subsidy policies and improve the structure of fiscal and tax subsidies, which is of great significance to the improvement of the performance of agricultural listed companies. The main contents and conclusions of this paper are as follows: 1. This paper analyzes the management of agricultural listed companies in China by means of profitability, solvency, operating capacity and development ability, and calculates the quarterly operating performance of agricultural listed companies from 2003 to 2015 by using grey relational analysis. The paper points out that the current situation of agricultural listed companies in our country is not good and the operating performance is low, and then analyzes the breadth and depth of the implementation of the fiscal and tax subsidy policy, and points out the existing problems. The main reasons are unreasonable structure of fiscal and tax expenditure, unscientific mode of implementation, lack of effective supervision. 2) Analysis of the comprehensive influence of tax preference and income subsidy on business performance. Based on the results of the measurement of the performance of agricultural listed companies, this paper establishes a vector autoregressive model to analyze the positive and negative effects of tax subsidies on business performance, the lag and the degree of contribution, etc. The results show that the financial and tax subsidies have no lag effect on business performance. In the short term, the financial and tax subsidies can significantly improve the operating performance, showing a long-term positive impact, and the degree of impact contribution is more stable than that of 12. 3) the effects of tax preference and income subsidy on business performance are analyzed and compared. In this paper, the financial and tax subsidies are subdivided into preferential tax policies and income subsidies, and the VAR model is constructed to analyze the tax preferences of unit operating income and the subsidies of unit operating income as variable indicators. The empirical results show that the implementation of fiscal and tax subsidy policy focuses on tax preference, the impact of tax preference and income subsidy on performance is not lagging, tax preference has a positive impact, and income subsidy has a negative impact. The contribution of income subsidy is greater than that of tax preference. 4) A case study of Beidahuang Group. Based on the analysis of the present operating situation and the financial and tax subsidies of Beidahuang Group, this paper further analyzes the influence of tax preference and income subsidy on the performance of Beidahuang Group. It is found that the government's fiscal and tax subsidy policy for the Beidahuang Group focuses on the preferential tax policy, but the income subsidy policy dominates the impact of the fiscal and tax subsidies on the operating performance, which is reflected in the positive impact in the first two periods. In the short term, the third period is negative effect, and the long term is not good for business development. This paper suggests that the government should implement the fiscal and tax subsidy policy to support the development of agricultural listed companies, and take the subsidy income policy as a supplementary tool, and focus on the preferential tax policy. It is suggested that enterprises should make rational use of subsidized funds and enhance their competitiveness for sustainable development. The main innovations of this paper are as follows: 1) to construct VAR model to analyze the impact of tax subsidies on the performance of agricultural listed companies, not only to know the positive and negative effects, but also to know the changes of the effects. Contribution degree, etc. (2) this paper demonstrates the effect of tax preference and income subsidy on the performance, and makes a deep comparison and analysis.
【学位授予单位】：华中农业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F324;F812.8;F302.6

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