文献类型：期刊文献

中文题名：固定资产加速折旧政策与企业投资行为

英文题名：The Accelerated Depreciation Policy of Fixed Assets and Enterprise Investment Behavior

作者：赵德昭[1];韩宁[1];王乐[1];尚瑶瑶[1]

第一作者：赵德昭

机构：[1]河南财经政法大学财政税务学院,450046

第一机构：河南财经政法大学财政税务学院

年份：2023

期号：1

起止页码：62-81

中文期刊名：南开经济研究

外文期刊名：Nankai Economic Studies

收录：CSTPCD;;国家哲学社会科学学术期刊数据库;社科基金资助期刊;北大核心:【北大核心2020】；

基金：国家社科基金一般项目(22BJL023);2020年度“中原英才计划”——中原青年拔尖人才(ZYYCYU202012187);河南财经政法大学青年拔尖人才资助计划(hncjzfdxqnbjrc201710);华贸金融研究课题(HYK-2021003);2022年河南省高等学校哲学社会科学创新人才支持计划(2022-CXRC-04);2021年河南省高等学校青年骨干教师培养计划(2021GGJS066)资助。

语种：中文

中文关键词：加速折旧;固定资产投资;企业投资行为;双重差分模型

外文关键词：Accelerated Depreciation;Fixed Asset Investment;Enterprise Investment Behavior;Double Difference Model

摘要：本文基于2014年固定资产加速折旧政策实施以及2015年该政策优惠行业扩充至四个重点领域的政策背景,将这两年的政策冲击准确识别并压缩为一次“准自然实验”,构建双重差分模型考察了固定资产加速折旧政策对企业投资行为的影响。实证研究结果显示,固定资产加速折旧政策对企业投资行为具有显著的正向影响。中介效应检验表明,固定资产加速折旧政策通过增加企业现金流量进而促进企业投资的部分中介效应显著存在。异质性检验证明,固定资产加速折旧政策对不同盈亏状况、不同税率水平、不同所有制类型和不同规模企业投资行为的影响具有显著异质性,且其对盈利企业、高税率企业、非国有企业和小规模企业投资的促进作用更为明显。本文的研究有助于理解税收政策与企业固定资产更新及结构升级之间的影响机理,对我国结构转型中的税收政策调整以及更好地推动产业升级、推动经济高质量发展具有一定参考价值。
This paper examines the impact of accelerated depreciation policy on enterprises'investment behavior by using the policy background of accelerated depreciation policy in 2014 and the expansion of preferential industries to four key areas in 2015,and compressing the policy impact in these two years into a"quasi-natural experiment"by constructing a double difference model.The results of the empirical study found that the policy of accelerated depreciation of fixed assets has a significant positive impact on the investment behavior of enterprises.The mediating effect test found that the accelerated depreciation policy on fixed assets has a significant mediating effect on investment by increasing cash flow of enterprises.The test of heterogeneity finds that the effect of accelerated depreciation policy on investment behavior is significantly heterogeneous across profit and loss status,tax rate level,ownership type and size of enterprises,and its effect on investment promotion is more pronounced for profitable enterprises,high tax rate enterprises,non-state enterprises and small-scale enterprises.The research in this paper helps to understand the mechanism of influence between tax policy and enterprise fixed asset renewal and structural upgrading,and has some reference value for tax policy adjustment in China's structural transformation and better promotion of industrial upgrading and high-quality economic development.