日前，我院谢宏基助理教授、暨南大学田存志教授、暨南大学博士研究生吴远霖合作的论文“Quid pro quo? Local government debt and corporate tax avoidance”，在会计领域国际权威期刊The British Accounting Review在线发表。

论文链接：https://www.sciencedirect.com/science/article/pii/S089083892300166X?via%3Dihub

杂志简介

期刊The British Accounting Review由英国会计金融学会(BAFA)创刊于1969年，主要刊发会计和金融领域里最前沿的原创性研究成果。该刊收录于SSCI JCR Q1区，2022年影响因子达到5.1，在ABDC 期刊质量指南中被评为 A*，在Academic Journal Guide中被评为ABS三星级期刊。

文章简介

This study examines the effect of local government debt (LGD) on corporate tax avoidance using a sample of Chinese-listed firms from 2007 to 2019. We find a negative relationship between LGD and tax avoidance only in the municipal state-owned enterprises (SOEs) controlled by the municipal government, suggesting that municipal officials focus on municipal SOEs to raise tax revenues to alleviate debt pressures. Further discussions show that the negative effect of LGD on municipal SOEs' tax avoidance is pronounced in politically connected managers, cities with worse fiscal situations and only present at the early phase of officials' tenure but insignificant later. We examine the economic consequences of politically driven tax planning and find that municipal SOEs with lower tax avoidance subsequently receive more government contracts as favor returns. Such favor exchange changes the distribution of current and future cash flows of the municipal SOEs, which are mainly determined by adjusting the composition of current accruals (i.e., more income-increasing earning management) and cash flow items (i.e., less tax avoidance). This study sheds light on the “two-way favor exchange” between governments and firms and provides implications for understanding local government leaders' heterogeneous incentives for tax enforcement and firms’ competing incentives for tax avoidance.

作者简介

谢宏基，广西大学经济学院/中国—东盟金融合作学院助理教授，主要研究领域为公司金融、政府债务、风险投资。近年来在《The British Accounting Review》、《The Quarterly Review of Economics and Finance》等国内外期刊发表论文近十篇，出版学术专著1部。