Analysis Of The Impact Of Private Enterprise Tax Burden On The Corporate Performance

Since the adoption of reform and opening-up policy about 40 years ago,China's economy has achieved unprecedented development,and the private enterprises have made great contributions to it.However,in recent years,with the cost of the resources,labor and environment has been increasing constantly,the private enterprises are faced with increasingly severe living environment,which result to a continuous decline in their business performance.In the analysis of the influencing factors of business performance,whether from the perspective of the enterprise's own development interests or from the healthy development of the whole national economy,the tax burden of the enterprise has always been a factor that can not be ignored.Therefore,this article takes the enterprise tax burden factor as the starting point,examines its influence factor on the enterprise performance,so that to provide some reference for the research of the related problems.Based on the relevant data of private listed companies in Shanghai and Shenzhen stock markets from 2013 to 2017,this paper studies the effect of corporate tax burden on their corporate performance.Firstly,based on panel threshold regression model,the effect of tax burden on firm performance under different levels of tax burden is studied,and then the influence of tax burden on firm performance of heterogeneous enterprises is further studied by means of fixed effect regression model.The main results are as follows:(1)different levels of tax burden have different effects on enterprise performance.Low level and medium level tax burden has a positive effect on enterprise performance,but when the enterprise is in high tax burden level,corporate tax burden will have a negative correlation effect on corporate performance.(2)The effect of tax burden on enterprise performance is different in different regions.The effect of tax burden on corporate performance is the largest in the central region,the second in the eastern region,then in the western and northeast region,and there is little difference between them.(3)the effect of tax burden on the performance of enterprises in different industries is different,The enterprise performance of the information transmission,software and information technology service industry is themost affected by the tax burden,and the second is the manufacturing industry,and the enterprise tax burden of the wholesale and retail industry also has an obvious effect on the performance of the enterprise.(4)The effect of tax burden on enterprise performance is different when the private corperate is in different operating states,which shows that with the improvement of business state,the effect of tax burden on enterprise performance increases gradually.Therefore,the government should try its best to eliminate the regional and industry differences of the corporate tax burden.At the same time,the appropriate tax policy should be formulated according to different operating status of enterprise and the impact of different tax levels on the enterprise performance,which can create a good market environment for the development of enterprises.