税收激励对银行资本结构调整的影响

发布时间：2018-06-12 10:05

本文选题：所得税实际税率 + 银行资本结构调整　；参考：《税务与经济》2017年05期

【摘要】：企业所得税的税盾效应诱发金融机构过度负债,可能导致金融风险的现象引起学者广泛关注。将经典资本结构理论引入金融领域,构建面板数据模型,重点探讨所得税实际税率的变化对上市商业银行资本结构及其调整方式的影响。实证结果表明:所得税实际税率上升时,上市商业银行资产负债率不发生变动;而所得税实际税率下降时,上市商业银行资产负债率显著降低。上市商业银行资本结构调整对所得税实际税率的变动方向的敏感性不同。因此,应从完善结构性减税措施、注重金融业"营改增"与企业所得税政策的衔接两个方面降低税收政策对银行债务融资的扭曲效应,以降低银行财务风险,防范金融危机。
[Abstract]:The tax shield effect of enterprise income tax induces the excessive debt of financial institutions, which may lead to the widespread concern of the scholars. The classical capital structure theory is introduced into the financial field, and the panel data model is constructed, and the effect of the change of the actual tax rate on the capital structure and the adjustment mode of the listed commercial banks is discussed. The results show that the assets and liabilities rate of listed commercial banks will not change when the actual tax rate rises, and the assets and liabilities rate of the listed commercial banks are significantly reduced when the actual tax rate of income tax drops. The sensitivity of the capital structure adjustment to the actual tax rate of the income tax is different. Tax measures, pay attention to the two aspects of the convergence of the financial industry "camp to increase" and the enterprise income tax policy, reduce the distorting effect of tax policy to the bank debt financing, in order to reduce the financial risk of the bank and prevent the financial crisis.
【作者单位】：贵州财经大学经济学院;贵州财经大学教务处;
【基金】：2015年贵州财经大学人才引进项目贵州省教育厅高校人文社会科学项目(项目编号:2016ZC042) 2017年贵州财经大学青年教师英才计划
【分类号】：F812.42;F830.42;F832.3

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