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本文试图利用1997～2005年省际面板数据实证检验税收政策的变动对国有企业投资行为的影响,在资本使用者成本模型的分析框架下,本文的研究发现,税收通过资本使用者成本对我国国有企业的投资行为具有显著的反方向影响,其中增值税对投资的弹性系数为-0.7,企业所得税为-0.8;同时,在非税收因素中,地方政府的财政扩张程度、地方政府间的竞争两大因素对国有企业的投资具有显著的正方向影响,但是影响的力度正随国有企业改革的推进逐年减弱。
This paper tries to use the inter-provincial panel data from 1997 to 2005 to empirically test the impact of tax policy changes on the investment behavior of state-owned enterprises. Based on the analysis of the cost model of capital users, this study finds that tax revenue through capital user costs to our state-owned The investment behavior of enterprises has a significant negative impact on the direction of the investment, of which the VAT elasticity of investment is -0.7, corporate income tax is -0.8; the same time, non-tax factors, the degree of fiscal expansion of local government, competition between local governments two The major factors have a significant positive impact on the investment of state-owned enterprises, but the impact is being weakened year by year as the reform of state-owned enterprises progresses.