新三板挂牌补贴的政策效应分析

发布时间：2018-02-02 19:34

本文关键词： 新三板政府补贴经营绩效税收负担　出处：《山东大学学报(哲学社会科学版)》2017年06期 　论文类型：期刊论文

【摘要】：随着新三板的兴起,地方政府在2014年后相继出台鼓励企业挂牌新三板的补贴政策。基于新三板挂牌企业数据,本文从实证角度出发,分析了新三板挂牌补贴的企业偏向性,并考察新三板挂牌补贴对企业经营绩效和营运能力,以及对企业税收负担的影响。研究发现,新三板挂牌补贴并没有特别偏向于某一类企业;新三板挂牌补贴提高了企业的经营绩效和营运能力;新三板挂牌补贴对企业的营业税税率没有显著影响,但增加了企业的实际税收负担。地方政府需要进一步完善补贴的执行方式和条件,把对挂牌行为的鼓励变为对融资行为的鼓励。从长期看,地方政府适时退出补贴政策可以减少对市场经济的扭曲。
[Abstract]:With the rise of the new board, the local government in 2014 promulgated to encourage enterprises listed on the new board of the subsidy policy. The new board listed companies based on the data, this dissertation analyzes the new board listed subsidies bias, and the effects of the new board listed subsidies on operating performance and operating capacity of enterprise, and the impact of enterprises the tax burden. The study found that the new board listed subsidies is not particularly biased in favor of a kind of enterprise; the new board listed subsidies to improve operating performance and operating ability of enterprises; the new board listed subsidies to enterprises the tax rate has no significant effect, but the increase of the actual tax burden of enterprises. Local governments need to further improve the subsidy the implementation methods and conditions, to encourage the listing to encourage financing behavior. In the long term, local government timely exit subsidy policy can be reduced Little distortion of the market economy.

【作者单位】：山东大学经济研究院;山东管理学院;山东大学;宏信证券有限责任公司投行部;
【基金】：国家自然科学基金面上项目“适宜基础设施与中国经济增长:理论与实证研究”(71273012) 山东省自然科学基金面上项目“房地产周期与土地资源配置的经济效应”(ZR2016GM24)
【分类号】：F832.51
【正文快照】： (1)Shleifer A.,Vishny R.W.,“Politicians and Firms”,The Quarterly Journal of Economics,1994,109(4),pp.995-1025.(2)Faccio M.,Masulis R.W.,Mcconnell J.J.,“Political Connections and Corporate Bailouts”,Journal of Finance,2006,61(6),pp.2597-2635.一、引言

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