| With China's economic and social development into a new normal,China's public charity has stepped into a period of rapid development.While pursuing economic profits,domestic enterprises are paying great attention and emphasis on the awareness of social responsibility.More and more enterprises have integrated the performance of social responsibility into enterprise overall development strategy,made outstanding contributions in a lot of public welfare areas.More and more domestic enterprises have devoted to public welfare charity.Private enterprises,as the new power for China's national economic development have stood out from enterprises of other ownerships,served as the main strength for public charitable donation in China.The statistical data in Annual Report On China's Philanthropy Development(2019)showed that Chinese private enterprises' contribution to public charitable donation has maintained stably at about 50% since 2013,significantly higher than that of state-owned and state-controlled enterprises,enterprises from Hong Kong,Macao and Taiwan,and overseas Chinese enterprises,and foreign capital enterprises(joint venture).To encourage private enterprises to participate in social public charitable donation,the Chinese government has released a series of policy measures in recent years,including an important policy of providing tax preference for charitable donating enterprises.How to allow preferential tax policy to give its full play has become a universally concerned topic in social public field.Starting from the characteristics of charitable donation motivation of Chinese private enterprises sample analysis,this study has comprehensively used panel data analysis,and analogue simulation methods to analyze the incentive effect of China's current preferential tax policies on Chinese private enterprises' charitable donation,and explored the key tools of preferential tax policies,i.e.,the function mechanism of pre-tax deduction policy incentive on Chinese private enterprises' charitable donation,tried to determine the factors influencing government department's determination of pre-tax deduction rate andoptimization path through model derivation.This study firstly sorts out and reviews relevant research literatures about charitable donation motivation of enterprises.On this base,the study designs a questionnaire on six main dimensions of enterprise charitable donation,namely,“to fulfill social responsibility”,“to enhance reputation”,“to promote management utility”,“to improve competitive advantage”,“to strengthen political connection”,and “to obtain tax preference”.After collecting sample data of Chinese private enterprises,this study analyzes different weights of charitable donation motivation of Chinese private enterprises from above six dimensions and elaborates corresponding characteristics of weights.The study finds that,Chinese private enterprises pay more attention to achieve the goals of “enhancing reputation”,“promoting management utility”,“improving competitive advantage”,and“strengthening political connection”,while focus less on “obtaining tax preference” and“fulfilling social responsibility”.Based on the results,this study classifies and compares the samples of private enterprises according to “whether or not enjoy of charitable donation related preferential tax policies”,and then finds that there is a significant difference in motivation weights of four dimensions in two categories of private enterprises,namely,“obtaining tax preference”,“promoting management utility”,“fulfilling social responsibility” and “improving competitive advantage”,thus indicating the direction for the subsequent study in this paper.Secondly,propensity score matching method(PSM)was used in this paper to analyze the statistical data of China's private listed companies' social responsibility in 2009-2017 and related financial data in the CSMAR database,and to test the preferential tax policies for charitable donating enterprises in Enterprise Income Tax Law issued in 2018,which has had significant incentive effect on charitable donations of China's private listed companies.Again,according to actual tax preferential policies in China,based on previous scholars' researches,a mathematical model in accordance with the requirements of China's tax preferential policies was built.Matlab software was used to carry out simulatedanalysis on models under two goals of profit maximization and benefit maximization,and the impact of changes in pre-tax deduction rate on enterprises' optimal charitable donation was obtained.The simulation results show that under the goal of profit maximization,pre-tax deduction rate is positively correlated with enterprise charitable donation.Under the goal of benefit maximization,although pre-tax deduction rate is positively correlated with enterprise charitable donation,its incentive effect is influenced by enterprise charitable donation motivation elasticity coefficient.In the end,this paper attempts to analyze how to determine pre-tax deduction rate and its influencing factors within the framework of China's preferential tax policies by building a model.Through model deduction,optimal pre-tax deduction rate is proved to exist confirmatively,which can effectively stimulate enterprise charitable donation,guarantee government taxation stability,prevent tax erosion,and maximize public welfare expenditures of the whole society.This paper has deeply analyzed the characteristics of Chinese private enterprises' charitable donation motivation,and further analyzed the incentive effect of China's preferential tax policies on Chinese private enterprises' charitable donation,and tried to construct a tax incentive model in accordance with the requirements of China's preferential tax policies.explored the mechanism of pre-deduction policy incentive on Chinese private enterprises' charitable donation,factors influencing the determination of pre-tax deduction.This paper has broadened the thinking on researches of enterprise charitable donation motivation and tax policy utility,and provided beneficial referential decision-making basis for government to optimize and improve preferential tax policies. |
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