The Tax Enforcement Informatization and Corporate Risk-taking:A Quasi-natural Experiment Based on the"Third Phase of Golden Tax Project"
The 14th Five-Year Plan emphasizes the need to accelerate digital development and improve the efficiency of digital government services.Due to the tax enforcement informatization is an important part of public service informatization,investigating its impacts on economic and social development has practical significance.Based on using the"Third Phase of Golden Tax Project"as the quasi-natural experiment,this paper examines the effects of tax enforcement informatization on corporate risk-taking.We find risk-taking decline significantly for corporations in the pilot area after the implementation of the Third Phase of Golden Tax Project.The mechanism test found that the effect of the Third Phase of Golden Tax Project in reducing the risk-taking level of corporations is achieved by reducing business operational risks and decreasing investments in high-risk projects.And this effect is stronger for corporations without political connections and with high financial leverage.Collectively,our finding shows the tax enforcement informatization helps corporations to make reasonable investment and avoid blindly pursuing risky investment.And our result also provides some evidences for promoting the informatization of taxation governance in the future.
Tax enforcement informatizationRisk-takingThe"Third Phase of Golden Tax Project"
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