The Effects Of The Transformation Of The Value-added Tax On Financial Performance Of Listed Firm

In order to support economic development of the central region and accumulate experience for the implementation of the VAT reform all over the China.The government decided to carry out the reformation at eight industries in six provinces of the central region from July 1,2007.The central region , as the important energy base,has carried out the tax reformation from the production value-added tax to consumption value-added tax ,To evalue the regormation weather or not achieve the expected goal ,we need to know how about the completementation and the influence to the enterprices .From the Northeast industries base impletement the reform policy ,A mass of scholars have cencerntrate on these issues:the situation of the implemention and the questions occurred during the implemention ,the influence on the economic of the region and country ,the impact on the business activities ,fixed asset investment ,tax budden and the financial of enterpries .On the basis of the existing studies , this paper put the importance on the study about the transformation of VAT influence on the financial performance of listed companies in the central region through the theorethcal analysis and emprical analysis. To evalue the financial performance , this paper divided the financial performance into four aspects that profitability, operation ability , debt paying ability , development ability. From the four aspect,the paper conducted the normative study in the first , then selected 65 samples of enterprises, collected the releated data , used the statistical software. The result show us , from the reformation , the performance of listed companies has improved in total, besides it , the investment on the fixed asset has increased , the central region has already made full use of the reformtation policy. Frowm the different industry , the manufacturing industry and petrochemical industry has increase the ability of profitability , opertion, debt paying and development, besides , the profitability of the mining industriy has increased and the fixed asset operation ability of automobile industry increased rapidly . The article summarized the impact of the VAT transformation on the central region listed companies , meanwhile give the author's opinion about the promote the financial performance.