Research On Capital Weakness Regulation Of Listed Companies In China

In 2008 China promulgated the new "enterprise income tax law, the article 46 thin capitalization rules to establish the methods of thin capitalization in our country is a safe harbor model is given priority to, the normal trade principle is complementar y, and the safety of the financial and non-financial companies port mode ratio proporti on made clear rules. This regulation to a certain extent, to a reasonable level of tax in our country because of weakening and reduce enterprise capital. But under the terms o f the deal with thin capitalization method, whether considered between different indus tries of different characteristics, the safe harbor model property ratio levels are specifi ed in the present different characteristics of industries are applicable and whether cons idered factors other than taxes on capital weakening the influence of the degree, it is what this article focuses on.Theoretical analysis and empirical research method of combining the thesis. The classical theory in the theoretical analysis first combs for thin capitalization related t o clarify the sequence of events.Applicable conditions based on the comparison of the two methods to prevent thin capitalization on the safe harbor model to clarify the deb t investment and equity investment, as the empirical research data screening preparati on. Finally, the influencing factors on the thin capitalization analysis and make hypoth esis correlation ratio and safe harbor model property. In the empirical study, this articl e from the whole and the industry of the 2011 to the 2013 China listing Corporation th in capitalization situation was analyzed, based on the descriptive statistics to determin e our country listing Corporation widespread thin capitalization industry, while the no n parameter test on the selected differences between weakening industry employment of capital, obtained. China’s listing Corporation thin capitalization commonly exist an d different industry differences between larger conclusion. Finally the use of quantile regression model verification method to make the relationships between factors weake ning capital and effects of the hypothesis, and the best safe harbor model regulation le vel in different industries.At the end of this paper according to the theoretical analysis and empirical analysi s of the results of our current thin capitalization regulation policy recommendations: prevention of Chinese thin capitalization phenomena ought to admit that China’s thin capitalization level between different industries is a significant difference in the use of safe harbor model based on regulation, and respectively in different industries. In det ermining the specific regulation of the property right proportion not only considered t he influence of tax should also consider the enterprise scale, profitability, operating co nditions and some other factors. Only in this way will be a change in China in the dev elopment of preventive measures by thin capitalization shows the characteristics of ex tensive, thus forming the national and enterprise win-win situation with scientific and reasonable measures.