Based on the panel data of China's A-share listed companies from 2012 to 2020,this paper studies the impact of fiscal and tax policies on corporate digital transformation.It is found that both financial subsidies and tax incentives can stimulate enterprises'digital transformation,and compared with fiscal subsidies,tax incentives have a stronger stimulus effect on digital transformation.And this kind of incentive effect has the obvious heterogeneity,namely,the stimulus effect is most significant for enterprises in the eastern region and mature stage.Further analy-sis shows that there is a threshold effect on the incentive effect of fiscal and tax policies on enterprises'digital trans-formation,and when it exceeds a threshold,the positive effect of fiscal and tax policies on enterprises'digital trans-formation begins to weaken.In addition,compared with the"ex-ante incentive"financial subsidies,"ex-post in-centive"tax incentives for the external environment requirements are lower,with a stronger universality.
关键词
财税政策/企业数字化/影响效应
Key words
fiscal and tax policy/enterprise digitization/influence effect
万方数据