Accelerated Depreciation Tax Credit and Corporate Financialization Based on the PSM-DID Model
Joint Authors
Chen, Guihua
Ma, Chunguang
Bei, Hongjun
Wang, Chuner
Source
Wireless Communications and Mobile Computing
Issue
Vol. 2020, Issue 2020 (31 Dec. 2020), pp.1-10, 10 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2020-12-07
Country of Publication
Egypt
No. of Pages
10
Main Subjects
Information Technology and Computer Science
Abstract EN
In this paper, we use the data of China’s manufacturing listed companies from 2009 to 2018, adopt the method of propensity score matching and double difference (PSM-DID) to solve the sample’s selective bias, and select the accelerated depreciation policy of fixed assets issued by China in 2014 as a quasi-natural experiment to verify the robustness of the empirical results, which will affect the R&D investment of manufacturing enterprises and the structural tax reduction of China.
This paper makes an empirical study on the effect of fixed asset investment to restrain the financialization of manufacturing enterprises.
The results show that (1) accelerated depreciation policy of fixed assets significantly promotes the R&D investment and fixed asset investment of enterprises and reduces the level of enterprise financialization; (2) accelerated depreciation of fixed asset local tax policy, through guiding the R&D investment, fixed asset investment, and deferred income tax acquisition of enterprises.
It guides the investment of enterprises to the real economic field, thus reducing the financial assets of enterprises.
The investment has restrained the financial trend of real enterprises.
The conclusion of this paper is of practical significance to support the formulation and implementation of the national structural tax reduction policy and to clarify the regulatory role and mechanism of the structural tax reduction policy.
American Psychological Association (APA)
Ma, Chunguang& Bei, Hongjun& Wang, Chuner& Chen, Guihua. 2020. Accelerated Depreciation Tax Credit and Corporate Financialization Based on the PSM-DID Model. Wireless Communications and Mobile Computing،Vol. 2020, no. 2020, pp.1-10.
https://search.emarefa.net/detail/BIM-1214463
Modern Language Association (MLA)
Ma, Chunguang…[et al.]. Accelerated Depreciation Tax Credit and Corporate Financialization Based on the PSM-DID Model. Wireless Communications and Mobile Computing No. 2020 (2020), pp.1-10.
https://search.emarefa.net/detail/BIM-1214463
American Medical Association (AMA)
Ma, Chunguang& Bei, Hongjun& Wang, Chuner& Chen, Guihua. Accelerated Depreciation Tax Credit and Corporate Financialization Based on the PSM-DID Model. Wireless Communications and Mobile Computing. 2020. Vol. 2020, no. 2020, pp.1-10.
https://search.emarefa.net/detail/BIM-1214463
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1214463