Empirical Study On The Impact Of The Enterprise Income Tax Reformation To Manufacturing Listed Company Performance

It is more than two years since the new enterprise income tax law put into use on Jan. 1st 2008. People all agree that the enterprise income tax reformation has an active influence on the enterprises revenue. But on the extent of the influence, researchers seldom gave their exact answers. It is worth the paper to study on the direction.This paper selects Chinese manufacturing listed companies in the A share market of Shanghai and Shenzhen as analysis samples, and the observation period is from year 2005 to 2009. AS to the selection of the variables, the paper using earnings per share as the dependent variables, effective rate of enterprise income tax as the explanatory variables, other variables which have influence on enterprise performance as control variables, and other relative policies as a virtual variable. With the help of eviews6.0 software and least-square method, the regression estimation results showed that when ERT minimize 1%, the EPS is raised 0.24%, which means that the tax reformation has an evident influence to enterprise performance. What's more, this paper also tried to do some in-depth deduce on extending the overall sample research ideas to subclass one. Although the attempt is failed, it can provide the next researchers the methods and ideas for reference. In the end, this paper gives some policy suggestions to make our country's existing enterprise income tax law much better.