论文部分内容阅读
本文在商业银行融资成本模型基础上,分析税收与银行资本结构关系,提出理论假说,在此基础之上构建面板数据模型,考察所有制差异背景下税收对银行资本结构的影响。研究结果发现:所得税实际税率对上市商业银行资产负债水平有着显著正向影响,而流转税实际税率与资产负债率显著负相关;在进一步控制产权属性的情况下,所得税实际税率增加一个百分点会导致国有大型商业银行比非国有大型商业银行资产负债率增长0.043%,而流转税实际税率对不同产权属性银行资本结构的影响没有显著差异。通过对比实证分析结论,“营改增”后,传统存贷业务比重较大的银行其流转税税收负担有一定程度提高,银行在深入发掘存贷业务的同时,应大力发展直接收费金融业务,以提高盈利水平;进一步降低银行企业所得税税收负担,优化银行资本结构,特别是抑制国有大型商业银行债务融资规模的进一步扩张,防范金融风险。
Based on the financing cost model of commercial banks, this paper analyzes the relationship between taxation and bank capital structure, and puts forward the theoretical hypothesis. Based on this, it builds a panel data model and examines the impact of taxation on bank capital structure under the background of ownership difference. The results show that the effective tax rate of income tax has a significant positive impact on the asset-liability level of listed commercial banks, while the effective tax rate of turnover tax is significantly negatively correlated with the debt-to-asset ratio. In the case of further controlling property rights, a 1 percentage point increase in the effective tax rate of income tax The asset-liability ratio of state-owned large commercial banks increased by 0.043% compared with non-state-owned large commercial banks, while the effective tax rate of turnover tax had no significant difference on the capital structure of different property banks. By comparing the conclusion of the empirical analysis and the analysis of “increasing taxes and increasing profits”, the tax burden on turnover tax of banks with large proportion of traditional deposit and loan business has been raised to a certain extent. While deepening the deposit and loan business, banks should make great efforts to develop direct fee finance Business in order to improve the level of profitability; further reduce the bank’s corporate income tax burden, optimize the bank’s capital structure, in particular, inhibit the further expansion of the large state-owned commercial banks debt financing scale, to prevent financial risks.