VAT rate cut and enterprise deleveraging: Evidence from China
Author
Abstract
Suggested Citation
DOI: 10.1016/j.eap.2023.05.014
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Petia Topalova, 2010.
"Factor Immobility and Regional Impacts of Trade Liberalization: Evidence on Poverty from India,"
American Economic Journal: Applied Economics, American Economic Association, vol. 2(4), pages 1-41, October.
- Petia Topalova, 2010. "Factor Immobility and Regional Impacts of Trade Liberalization Evidenceon Poverty From India," IMF Working Papers 2010/218, International Monetary Fund.
- Givoly, Dan, et al, 1992. "Taxes and Capital Structure: Evidence from Firms' Response to the Tax Reform Act of 1986," The Review of Financial Studies, Society for Financial Studies, vol. 5(2), pages 331-355.
- Cai, Xiqian & Lu, Yi & Wu, Mingqin & Yu, Linhui, 2016. "Does environmental regulation drive away inbound foreign direct investment? Evidence from a quasi-natural experiment in China," Journal of Development Economics, Elsevier, vol. 123(C), pages 73-85.
- Omesh Kini & Jaideep Shenoy & Venkat Subramaniam, 2017. "Impact of Financial Leverage on the Incidence and Severity of Product Failures: Evidence from Product Recalls," The Review of Financial Studies, Society for Financial Studies, vol. 30(5), pages 1790-1829.
- Fossen, Frank M. & Simmler, Martin, 2016.
"Personal Taxation of Capital Income and the Financial Leverage of Firms,"
EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 23(1), pages 48-81.
- Frank Fossen & Martin Simmler, 2016. "Personal taxation of capital income and the financial leverage of firms," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 23(1), pages 48-81, February.
- Auerbach, Alan J, 1989.
"Tax Reform and Adjustment Costs: The Impact on Investment and Market Value,"
International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 30(4), pages 939-962, November.
- Alan J. Auerbach, 1986. "Tax Reform and Adjustment Costs: The Impact on Investment and Market Value," NBER Working Papers 2103, National Bureau of Economic Research, Inc.
- Moritz Schularick & Alan M. Taylor, 2012.
"Credit Booms Gone Bust: Monetary Policy, Leverage Cycles, and Financial Crises, 1870-2008,"
American Economic Review, American Economic Association, vol. 102(2), pages 1029-1061, April.
- Moritz Schularick & Alan M. Taylor, 2009. "Credit Booms Gone Bust: Monetary Policy, Leverage Cycles and Financial Crises, 1870-2008," NBER Working Papers 15512, National Bureau of Economic Research, Inc.
- Taylor, Alan M. & Schularick, Moritz, 2009. "Credit Booms Gone Bust: Monetary Policy, Leverage Cycles and Financial Crises, 1870-2008," CEPR Discussion Papers 7570, C.E.P.R. Discussion Papers.
- Gordon Phillips & Giorgo Sertsios, 2013.
"How Do Firm Financial Conditions Affect Product Quality and Pricing?,"
Management Science, INFORMS, vol. 59(8), pages 1764-1782, August.
- Gordon M. Phillips & Giorgo Sertsios, 2011. "How Do Firm Financial Conditions Affect Product Quality and Pricing?," NBER Working Papers 17233, National Bureau of Economic Research, Inc.
- Franklin Allen & Elena Carletti & Robert Marquez, 2011.
"Credit Market Competition and Capital Regulation,"
The Review of Financial Studies, Society for Financial Studies, vol. 24(4), pages 983-1018.
- Allen, Franklin & Carletti, Elena & Marquez, Robert, 2005. "Credit market competition and capital regulation," CFS Working Paper Series 2005/23, Center for Financial Studies (CFS).
- Franklin Allen & Elena Carletti & Robert Marquez, 2009. "Credit Market Competition and Capital Regulation," Economics Working Papers ECO2009/08, European University Institute.
- Franklin Allen & Elena Carletti & Robert Marquez, 2006. "Credit market competition and capital regulation," Finance and Economics Discussion Series 2006-11, Board of Governors of the Federal Reserve System (U.S.).
- Jonathan Gruber & James M. Poterba, 1993.
"Tax Incentives and the Decision to Purchase Health Insurance: Evidence from the Self-Employed,"
NBER Working Papers
4435, National Bureau of Economic Research, Inc.
- Gruber, J. & Poterba, J., 1994. "Tax Incentives and the Decision to Purchase Health Insurance: Evidence from the Self-Employed," Working papers 94-10, Massachusetts Institute of Technology (MIT), Department of Economics.
- Gentry, William M. & Ladd, Helen F., 1994. "State Tax Structure and Multiple Policy Objectives," National Tax Journal, National Tax Association;National Tax Journal, vol. 47(4), pages 747-772, December.
- Francesco Nucci & Alberto F. Pozzolo & Fabiano Schivardi, 2005. "Is Firm's Productivity Related to its Financial Structure? Evidence from Microeconomic Data," Rivista di Politica Economica, SIPI Spa, vol. 95(1), pages 269-290, January-F.
- Wu, Liansheng & Yue, Heng, 2009. "Corporate tax, capital structure, and the accessibility of bank loans: Evidence from China," Journal of Banking & Finance, Elsevier, vol. 33(1), pages 30-38, January.
- Faccio, Mara & Xu, Jin, 2015. "Taxes and Capital Structure," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 50(3), pages 277-300, June.
- Graham, John R., 1999. "Do personal taxes affect corporate financing decisions?," Journal of Public Economics, Elsevier, vol. 73(2), pages 147-185, August.
- Markus K. Brunnermeier & Martin Oehmke, 2013.
"The Maturity Rat Race,"
Journal of Finance, American Finance Association, vol. 68(2), pages 483-521, April.
- Markus K. Brunnermeier & Martin Oehmke, 2010. "The Maturity Rat Race," NBER Working Papers 16607, National Bureau of Economic Research, Inc.
- Scholes, Myron S & Wilson, G Peter & Wolfson, Mark A, 1990. "Tax Planning, Regulatory Capital Planning, and Financial Reporting Strategy for Commercial Banks," The Review of Financial Studies, Society for Financial Studies, vol. 3(4), pages 625-650.
- Jonathan Gruber & James Poterba, 1994. "Tax Incentives and the Decision to Purchase Health Insurance: Evidence from the Self-Employed," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 109(3), pages 701-733.
- Amore, Mario Daniele & Schneider, Cédric & Žaldokas, Alminas, 2013. "Credit supply and corporate innovation," Journal of Financial Economics, Elsevier, vol. 109(3), pages 835-855.
- Gentry, William M. & Ladd, Helen F., 1994. "State Tax Structure and Multiple Policy Objectives," National Tax Journal, National Tax Association, vol. 47(4), pages 747-72, December.
- Zou, Jingxian & Shen, Guangjun & Gong, Yaxian, 2019. "The effect of value-added tax on leverage: Evidence from China’s value-added tax reform," China Economic Review, Elsevier, vol. 54(C), pages 135-146.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Zhao, Lexin & Peng, Gang & Feng, Qianbin, 2024. "VAT rate cut and corporate maturity mismatch: Evidence from China's VAT rate reform," International Review of Financial Analysis, Elsevier, vol. 93(C).
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Silke Rünger & Rainer Niemann & Magdalena Haring, 2019. "Investor taxation, firm heterogeneity and capital structure choice," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 26(4), pages 719-757, August.
- Magdalena Haring & Rainer Niemann & Silke Rünger, 2016. "Investor Taxation, Firm Heterogeneity and Capital Structure Choice," CESifo Working Paper Series 6098, CESifo.
- Mai, Nhat Chi, 2012. "Market timing, taxes and capital structure: evidence from Vietnam," OSF Preprints t3mvs, Center for Open Science.
- Jiayi Du & Guangjun Shen & Jingxian Zou, 2023. "Tax incentives and firm financing structures: evidence from China’s accelerated depreciation policy," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 30(5), pages 1346-1373, October.
- Teng Zhang & Qiuyao Fu & Chunhui Zhu, 2022. "Trade liberalization, credit constraints, and export quality upgrading," Empirical Economics, Springer, vol. 63(1), pages 499-524, July.
- Deng, Kebin & Zhu, Yushu & Smith, Tom & McCrystal, Alan, 2020. "Tax and leverage: Evidence from China," China Economic Review, Elsevier, vol. 62(C).
- Tuochen Li & Liang Yang, 2021. "The Effects of Tax Reduction and Fee Reduction Policies on the Digital Economy," Sustainability, MDPI, vol. 13(14), pages 1-20, July.
- Fischer, Marcel & Jensen, Bjarne Astrup, 2019. "The debt tax shield in general equilibrium," Journal of Banking & Finance, Elsevier, vol. 100(C), pages 151-166.
- Mahfoudh Hussein Mgammal & Ebrahim Mohammed Al-Matari & Talal Fawzi Alruwaili, 2023. "Value-added-tax rate increases: A comparative study using difference-in-difference with an ARIMA modeling approach," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-17, December.
- Haring, Magdalena & Niemann, Rainer & Rünger, Silke, 2016. "Investor taxation, firm heterogeneity and capital structure choice," arqus Discussion Papers in Quantitative Tax Research 210, arqus - Arbeitskreis Quantitative Steuerlehre.
- Wu, Liansheng & Yue, Heng, 2009. "Corporate tax, capital structure, and the accessibility of bank loans: Evidence from China," Journal of Banking & Finance, Elsevier, vol. 33(1), pages 30-38, January.
- Fossen, Frank M. & König, Johannes, 2015.
"Public health insurance and entry into self-employment,"
VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy
112934, Verein für Socialpolitik / German Economic Association.
- Fossen, Frank M. & König, Johannes, 2015. "Public Health Insurance and Entry into Self-Employment," IZA Discussion Papers 8816, Institute of Labor Economics (IZA).
- Fossen, Frank M. & König, Johannes, 2015. "Public health insurance and entry into self-employment," Discussion Papers 2015/4, Free University Berlin, School of Business & Economics.
- Frank M. Fossen & Johannes König, 2015. "Public Health Insurance and Entry into Self-Employment," Discussion Papers of DIW Berlin 1446, DIW Berlin, German Institute for Economic Research.
- Frank M. Fossen & Johannes König, 2015. "Public Health Insurance and Entry into Self-Employment," SOEPpapers on Multidisciplinary Panel Data Research 733, DIW Berlin, The German Socio-Economic Panel (SOEP).
- Giovanni Millo & Gaetano Carmeci, 2011. "Non-life insurance consumption in Italy: a sub-regional panel data analysis," Journal of Geographical Systems, Springer, vol. 13(3), pages 273-298, September.
- Gulcin Gumus & Tracy Regan, 2007.
"Self-Employment and the Role of Health Insurance,"
Working Papers
0910, University of Miami, Department of Economics.
- Gumus, Gulcin & Regan, Tracy L., 2009. "Self-Employment and the Role of Health Insurance," IZA Discussion Papers 3952, Institute of Labor Economics (IZA).
- Håkan Selin, 2012.
"Marginal Tax Rates and Tax‐Favoured Pension Savings of the Self‐Employed: Evidence from Sweden,"
Scandinavian Journal of Economics, Wiley Blackwell, vol. 114(1), pages 79-100, March.
- Selin, Håkan, 2009. "Marginal tax rates and tax-favoured pension savings of the self-employed Evidence from Sweden," Working Paper Series 2009:6, Uppsala University, Department of Economics.
- Selin, Håkan, 2009. "Marginal tax rates and tax-favoured pension savings of the selfemployed Evidence from Sweden," Working Paper Series, Center for Fiscal Studies 2009:4, Uppsala University, Department of Economics.
- Håkan Selin, 2010. "Marginal Tax Rates and Tax-Favoured Pension Savings of the Self-Employed - Evidence from Sweden," CESifo Working Paper Series 3059, CESifo.
- Melissa A. Thomasson, 2003.
"The Importance of Group Coverage: How Tax Policy Shaped U.S. Health Insurance,"
American Economic Review, American Economic Association, vol. 93(4), pages 1373-1384, September.
- Melissa A. Thomasson, 2000. "The Importance of Group Coverage: How Tax Policy Shaped U.S. Health Insurance," NBER Working Papers 7543, National Bureau of Economic Research, Inc.
- David Roodman & James G. MacKinnon & Morten Ørregaard Nielsen & Matthew D. Webb, 2019.
"Fast and wild: Bootstrap inference in Stata using boottest,"
Stata Journal, StataCorp LP, vol. 19(1), pages 4-60, March.
- James G. MacKinnon & Morten Ørregaard Nielsen & David Roodman & Matthew D. Webb, 2018. "Fast and Wild: Bootstrap Inference in Stata Using boottest," CREATES Research Papers 2018-34, Department of Economics and Business Economics, Aarhus University.
- David Roodman & James G. MacKinnon & Matthew D. Webb & Morten Ø. Nielsen, 2018. "Fast And Wild: Bootstrap Inference In Stata Using Boottest," Working Paper 1406, Economics Department, Queen's University.
- Courant, Paul N., 1994. "How Would You Know a Good Economic Policy if You Tripped Over One? Hint: Don't Just Count Jobs," National Tax Journal, National Tax Association;National Tax Journal, vol. 47(4), pages 863-881, December.
- Velamuri, Malathi, 2009.
"Taxes, Health Insurance and Women’s Self-Employment,"
MPRA Paper
15731, University Library of Munich, Germany.
- Velamuri, Malathi, 2009. "Taxes, Health Insurance and Women's Self-Employment," MPRA Paper 50474, University Library of Munich, Germany, revised Apr 2012.
- Omesh Kini & Mo Shen & Jaideep Shenoy & Venkat Subramaniam, 2022. "Labor Unions and Product Quality Failures," Management Science, INFORMS, vol. 68(7), pages 5403-5440, July.
More about this item
Keywords
Value-added tax; VAT rate cut or reduction; Deleveraging; DID model; Capital structure;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ecanpo:v:78:y:2023:i:c:p:1254-1266. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/economic-analysis-and-policy .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.