| China’s small and medium-sized enterprises gradually become the main body of the market economy,and contribute to the development of the national economy.In particular,the role of playing a prominent role in alleviating the employment pressure,ensuring moderate economic growth,achieving the country through science and education,optimizing the economic structure,etc..Therefore,through the reform of small and medium enterprises in China to promote the development of various types of small and medium enterprises,has become a very important strategic task.Although the small and medium-sized enterprises in the development of our national economy contributed,but in recent years the development of China’s small and medium-sized enterprises are facing financing difficulties,market competition ability is weak,the social service system is not perfect,social trust degree is low,the overall quality to be improved and some problems can not be ignored.In particular,the difficulty of financing is not to be ignored,and financing difficulties has become the biggest stumbling block in the development of SMEs in China,is hindering the healthy development of smes.Therefore,this study selected China from 2011 to 2015 in 3606 small and medium enterprises SME board listed on the Shenzhen stock exchange as the sample,the enterprise income tax as independent variables,with the actual tax rate as the corporate income tax scale,with the dependent variable of capital structure,asset liability ratio and debt maturity structure as the amount of capital structure the table,with the industry company features factors and factors as control variables,analysis of the impact of China’s small and medium enterprises income tax on capital structure.The analysis of relationship between the two gradually implications of this research through the corporate income tax and capital structure of China’s small and medium enterprises to move,to regulate the capital market of our country,to optimize the capital structure of small and medium-sized enterprises of our country have theoretical significance.At the same time,it can also affect the choice of capital structure of small and medium sized enterprises in China.Under the condition of market economy,the competition of the industry is becoming more and more serious.How to keep the advantage of the small and medium-sized enterprises in the fierce market competition has become the main direction of the theory and practice research.In this paper,from the perspective of empirical research,this paper provides some effective policy suggestions for the reform of income tax system through the analysis of the problems faced by small and medium sized enterprises in China.Discussion on problems faced by the choice of capital structure and the development of China’s small and medium-sized enterprises,to promote coordination between enterprise income tax and economic development in China,with the tradeoff between between efficiency and fairness,to enhance corporate value.It can also provide some reference value for the choice of the capital structure of China’s small and medium-sized enterprises. |
