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银企关系具有缓解融资约束、降低监督成本和约束债务契约的功能,这对企业税收规避行为具有重要影响。本文以2007-2015年沪深A股非金融类上市公司为样本,检验了银企关系对企业税收规避行为的影响。研究结果表明:银企关系越密切,企业税收规避程度越高。区分产权性质、机构投资者持股水平、金融发展程度和税收征管强度的进一步检验发现,银企关系增加企业税收规避行为这一现象仅在产权性质为非国有、机构投资者持股水平低、金融发展水平低和税收征管强度弱的企业中存在。拓展性分析结果显示,银企关系引发的税收规避行为会降低企业价值。上述证据表明,银企关系是企业税收规避的重要诱因,本文丰富了企业税收规避的影响因素以及银企关系经济后果的文献。
The relationship between banks and enterprises has the function of alleviating the financing constraints, reducing the supervision costs and restraining the debt contract, which has an important impact on corporate tax avoidance behavior. This paper examines the impact of bank-enterprise relationship on corporate tax avoidance behavior from 2007 to 2015 A-share non-financial listed companies in Shanghai and Shenzhen. The results show that the closer the relationship between bank and enterprise, the higher the degree of enterprise tax avoidance. Differentiating the nature of property rights, the level of ownership of institutional investors, the degree of financial development and the strength of tax collection and management further examination found that the phenomenon of bank-enterprise relationship to increase corporate tax evasion behavior only in the property rights of non-state ownership, institutional investors, low level of ownership, Low level of financial development and tax collection weakness exist in the enterprise. Outreach analysis shows that the tax evasion triggered by the bank-enterprise relationship will reduce corporate value. The above evidence shows that the relationship between banks and enterprises is an important incentive for corporate tax evasion. This article enriches the literature on the influencing factors of corporate tax evasion and the economic consequences of bank-enterprise relations.