Can Taxation Incentive Promote Firms' Export Performance? The Evidence from a Quasi-natural Experiment

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Journal of Central University of Finance & Economics ›› 2021, Vol. 0 ›› Issue (2) : 3-17.

FU Da-hai, LU Cheng-ha, QIN Yi-lun

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Abstract

Taking taxation policy of fixed assets accelerated depreciation implemented in 2014 and 2015 as a quasi-natural experiment,we investigate how tax incentives affect export performance of Chinese enterprises using all listed companies' data from 2010 to 2017.We find that taxation incentives have significantly promoted export performance of those affected firms from extensive margin and intensive margin.Such effects are more pronounced for firms which prefer fixed assets and long-term assets,firms in the central and western regions and firms with high financial constraints.The mechanism analysis showed that the taxation incentives mainly ease external financial constraints,such as improving corporate financing capabilities and reducing financing costs,then promoting their export performance.The results have important policy implications for the high-quality development of Chinese foreign trade.

Key words

Taxation incentive / Export margin / Financial constraint / Fixed assets accelerated depreciation

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FU Da-hai, LU Cheng-ha, QIN Yi-lun. Can Taxation Incentive Promote Firms' Export Performance? The Evidence from a Quasi-natural Experiment[J]. Journal of Central University of Finance & Economics, 2021, 0(2): 3-17

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