{"title":"母子公司的地域分散性和债务侵略性:从税收执法角度进行分析","authors":"","doi":"10.1016/j.iref.2024.103602","DOIUrl":null,"url":null,"abstract":"<div><p>Prior studies of corporate debt policy primarily focused on the overall company and ignored the impact of geographical dispersion between the parent and subsidiary companies. Using listed companies in China from 2007 to 2017 as the sample, this study explores the influence of the spatial geographic dispersion of parent and subsidiary companies on the radicalism of corporate debt policy based on a series of relevant models. Moreover, it discusses the regulatory effect of tax collection and management on the aforementioned relationship. The findings suggest a significant and positive relationship between the geographic dispersion of parent–subsidiary relationships and the aggressiveness level of corporate debt policy. Furthermore, tax enforcement has a significant moderating effect on this relationship. Results of this study enrich the research content of the factors affecting corporate debt policy and serve as an important reference for listed companies implementing regional diversification strategies. This study further provides inspiration for the government to improve tax collection and management work and optimize the financing platform.</p></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":null,"pages":null},"PeriodicalIF":4.8000,"publicationDate":"2024-09-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Parent–subsidiary geographic dispersion and debt aggressiveness: Analysis from the tax enforcement perspective\",\"authors\":\"\",\"doi\":\"10.1016/j.iref.2024.103602\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p>Prior studies of corporate debt policy primarily focused on the overall company and ignored the impact of geographical dispersion between the parent and subsidiary companies. Using listed companies in China from 2007 to 2017 as the sample, this study explores the influence of the spatial geographic dispersion of parent and subsidiary companies on the radicalism of corporate debt policy based on a series of relevant models. Moreover, it discusses the regulatory effect of tax collection and management on the aforementioned relationship. The findings suggest a significant and positive relationship between the geographic dispersion of parent–subsidiary relationships and the aggressiveness level of corporate debt policy. Furthermore, tax enforcement has a significant moderating effect on this relationship. Results of this study enrich the research content of the factors affecting corporate debt policy and serve as an important reference for listed companies implementing regional diversification strategies. This study further provides inspiration for the government to improve tax collection and management work and optimize the financing platform.</p></div>\",\"PeriodicalId\":14444,\"journal\":{\"name\":\"International Review of Economics & Finance\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":4.8000,\"publicationDate\":\"2024-09-06\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Review of Economics & Finance\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S105905602400594X\",\"RegionNum\":2,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Review of Economics & Finance","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S105905602400594X","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
Parent–subsidiary geographic dispersion and debt aggressiveness: Analysis from the tax enforcement perspective
Prior studies of corporate debt policy primarily focused on the overall company and ignored the impact of geographical dispersion between the parent and subsidiary companies. Using listed companies in China from 2007 to 2017 as the sample, this study explores the influence of the spatial geographic dispersion of parent and subsidiary companies on the radicalism of corporate debt policy based on a series of relevant models. Moreover, it discusses the regulatory effect of tax collection and management on the aforementioned relationship. The findings suggest a significant and positive relationship between the geographic dispersion of parent–subsidiary relationships and the aggressiveness level of corporate debt policy. Furthermore, tax enforcement has a significant moderating effect on this relationship. Results of this study enrich the research content of the factors affecting corporate debt policy and serve as an important reference for listed companies implementing regional diversification strategies. This study further provides inspiration for the government to improve tax collection and management work and optimize the financing platform.
期刊介绍:
The International Review of Economics & Finance (IREF) is a scholarly journal devoted to the publication of high quality theoretical and empirical articles in all areas of international economics, macroeconomics and financial economics. Contributions that facilitate the communications between the real and the financial sectors of the economy are of particular interest.