The impact of tax enforcement on corporate energy efficiency: Evidence from a tax collection reform in China

IF 5.2 1区 经济学 Q1 ECONOMICS 中国经济评论 Pub Date : 2024-08-23 DOI:10.1016/j.chieco.2024.102260
Qiuhang Xing , Mengzhe Li , Gaoshuang Xu
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Abstract

The central Chinese government has transferred some of the authority to collect local firms' income tax from local tax bureaus (LTBs) to state tax bureaus (STBs) to strengthen its control over local tax sources, resulting in a change in the intensity of tax enforcement of firms. Exploiting this quasi-natural event, we use a regression discontinuity design to examine the association between tax enforcement and energy efficiency. We find that firms whose taxes are collected by LTBs have significantly higher energy efficiency than firms whose taxes are collected by STBs. Further analysis shows that more lenient tax collection by LTBs eases firms' financial constraints and prompts firms to adopt cleaner energy structures and conduct more green innovation activities to improve energy efficiency. Heterogeneity analyses show that the main effects are more pronounced when the local government has a larger fiscal surplus or faces greater environmental pressure and when firms have no foreign business or a poor financial condition.

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税收执法对企业能效的影响:来自中国税收征管改革的证据
中国中央政府为加强对地方税源的控制,将地方企业所得税的部分征收权从地方税务局(LTB)转移到国家税务局(STB),从而导致了企业税收执法强度的变化。利用这一准自然事件,我们采用回归不连续设计来研究税收执法与能源效率之间的关系。我们发现,由地方税务局征税的企业的能源效率明显高于由科技局征税的企业。进一步的分析表明,地方税务局更宽松的税收征管缓解了企业的财务约束,促使企业采用更清洁的能源结构,并开展更多的绿色创新活动来提高能源效率。异质性分析表明,当地方政府拥有较大的财政盈余或面临较大的环境压力时,以及当企业没有国外业务或财务状况较差时,主要效应更为明显。
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来源期刊
中国经济评论
中国经济评论 ECONOMICS-
CiteScore
10.60
自引率
4.40%
发文量
380
期刊介绍: The China Economic Review publishes original works of scholarship which add to the knowledge of the economy of China and to economies as a discipline. We seek, in particular, papers dealing with policy, performance and institutional change. Empirical papers normally use a formal model, a data set, and standard statistical techniques. Submissions are subjected to double-blind peer review.
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