| In recent years,as China's real economy has slowed down and the bank's credit intensity to firms has declined,the external financing environment is poor.Faced with insufficient loans,expensive and difficult issues,enterprises tend to rely on internal financing to accumulate funds,to maintain business operations and avoid getting into trouble.Due to the tax burden,it can reduce business profits and weaken the ability to finance internally.Whether the enterprise will aliate the financing restriction through tax avoidance becomes a question worth paying attention to.Basing on the study the relationship between financial constraints and the extent of enterprise tax avoidance,according to the data of listed companies in China from 2008 to 2016 using OLS regression method and instrumental variables to solve endogeneity problems.The study achievement shows that firms facing financial constraints exhibit more tax avoidance behavior than the financing of unconstrained firms significantly.Moreover the impact of financing constraints on corporate tax avoidance is more occurred in the less developed areas,non-state-owned enterprises,manufacturing and emerging industries.We hope the conclusions of this paper can be helpful to Innovating financial and tax support mode at the national and even helping play a certain role of inspiration in the formulation of policies to help enterprises reduce burdens and improve their ability to develop and respond to risks.According to the theme of Chinese enterprises' development at the present stage,based on the research conclusions of this paper,puts forward the following Suggestions:First,broaden the financing channels of enterprises;Second,implementing of different financial policies;Third,strengthen the construction of tax credit rating system;Fourth,improve the system of delaying tax payments;Five,build a system of tax guarantee for the development of market economy and allow the establishment of guarantee for tax. |
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