Optimization of Tax Business Environment and Enterprises'Foreign Direct Investment—Evidence from a Quasi-natural Experiment of China's Tax System Reform
The change of policy environment at home and abroad puts forward new requirements for enterprises'foreign direct in-vestment.Taking China's tax system reform as a quasi-natural experiment,and based on the data of A-share listed companies from 2009 to 2022,this paper examines the impact of tax business environment optimization on foreign direct investment(FDI)of enterpri-ses by using the DID method.It is found that the optimization of tax business environment can promote the tendency of enterprises'for-eign direct investment,and this effect is more prominent in the central and western regions,general prefecture-level cities,non-state-owned enterprises,large-scale enterprises,high digital level and capital-intensive enterprises.Mechanism analysis shows that the im-pact of optimizing tax business environment on enterprises'foreign direct investment reflects cost effect,innovation and quality im-provement effect and internal governance effect.In view of this,we should thoroughly implement China's tax system reform,and pro-mote enterprises to"go global"better by reducing enterprise costs,improving enterprise innovation level and strengthening enterprise internal governance.
tax business environmentforeign direct investmentChina's tax system reforminnovation and quality improve-mentinternal governance
NETL
NSTL
万方数据
