How the Merger of STB and LTBs Affects the High-quality Development of Firms:Based on the Perspective of TFP
The merger of State Tax Bureau(STB)and Local Tax Bureaus(LTBs)is a significant reform measure to reshape the relationship between the government and the market.It is of great practical significance to investigate how it affects the high-quality development of firms.Based on the data from Chinese non-financial listed firms from 2014 to 2020,with listed companies in Shanghai as the control group and listed companies in other regions as the treatment group,this paper adopts the PSM-DID method to explore the impact of the reform on the high-quality development of firms.Based on the perspective of firms'Total Factor Productivity(TFP),the research shows that the merger of STB and LTBs promotes the high-quality development of firms.The positive effect is more conspicuous in firms with small scale and higher tax burden prior to the reform.Mechanism analysis shows that it is an important way to promote high-quality development of firms by reducing local government intervention and generating resource-saving effects.Our findings provide significant reference value for the continuous deepening of tax system reform,the modernization of tax governance,and the promotion of high-quality development of enterprises.
The Merger of STB and LTBsTFPHigh-Quality DevelopmentReform of Tax Collection and Management System
万方数据
