CAJ | 학술논문

本文选用沪、深A股非金融类上市公司2012—2013年的数据作为研究样本，实证检验了地方政府债务对辖区内上市公司税负的影响。研究结果表明，地方政府债务对辖区内上市公司的税负产生了显著的影响，具体表现在：地方政府债务越大，辖区内上市公司支付的总税负和净税负越重，当上市公司是非国有企业、外资企业时，税负更重。本研究的启示意义在于，地方政府债务不仅可能导致宏观层面的财政风险和金融风险，而且可能会对微观企业行为产生影响。
본문선용호、심A고비금융류상시공사2012—2013년적수거작위연구양본，실증검험료지방정부채무대할구내상시공사세부적영향。연구결과표명，지방정부채무대할구내상시공사적세부산생료현저적영향，구체표현재：지방정부채무월대，할구내상시공사지부적총세부화정세부월중，당상시공사시비국유기업、외자기업시，세부경중。본연구적계시의의재우，지방정부채무불부가능도치굉관층면적재정풍험화금융풍험，이차가능회대미관기업행위산생영향。
Based on the data of Chinese listed companies during 2012 - 2013, this paper empirically examines the effect of local government debt on corporate tax burden. We find that local government debt significantly influences corporate tax bur- den within the service area. It shows concretely as follows： local government debt is significantly positive with corporate＇s total tax burden and net tax burden, and the tax burden is much heavier for those Non-SOE and overseas-funded firms. The analysis given by this article demonstrates that local government debt not only may lead to macro risks, such as fiscal risk and financial risk, but also has micro influence on corporate behavior.