Tax Incentives,Digital Transformation and Enterprise Entity Investment
It is of great practical significance to evaluate the impact of tax policy on enterprise entity investment for encouraging enterprise industrial investment and promoting the transformation and upgrading of industrial structure.Based on the panel data of Shanghai and Shenzhen A-share listed companies from 2009 to 2020,this paper employed the fixed effect model to explore the influence of tax incentive policies on the real investment of enterprises and analyzed the mediating role of digital transformation.The results show that tax incentives can significantly improve the investment level of business entities,with digital transformation playing a mediating role in this process.Tax incentives can ease the financing constraints,transmit positive signals and promote the digital transformation of enterprises,so as to improve the investment level of enterprises.The heterogeneity test further finds that the promotion effect of tax incentive on enterprise entity investment is more obvious in non-state-owned enterprises,enterprises with low R&D investment and manufacturing enterprises.The government should actively use tax tools to promote the digital transformation and help the enterprise entities.
万方数据
维普
