促進(jìn)我國(guó)中小企業(yè)融資的財(cái)稅政策研究
發(fā)布時(shí)間：2018-08-05 18:03
【摘要】：中小企業(yè)是市場(chǎng)經(jīng)濟(jì)中的主要存在形式,目前無(wú)論是在發(fā)達(dá)國(guó)家還是發(fā)展中國(guó)家中都占據(jù)著極其重要的地位。中小企業(yè)在我國(guó)的國(guó)民經(jīng)濟(jì)中承擔(dān)著納稅、就業(yè)、創(chuàng)新、活躍城鄉(xiāng)經(jīng)濟(jì)等多重任務(wù),是整個(gè)市場(chǎng)經(jīng)濟(jì)中的重要組成部分。在最新公布的數(shù)據(jù)中,2015年我國(guó)工商登記中小企業(yè)的數(shù)量已達(dá)到2400萬(wàn)家,這一市場(chǎng)主體提供了全國(guó)50%以上的稅收和三分之二以上的就業(yè)崗位,貢獻(xiàn)了超過(guò)60%的國(guó)內(nèi)生產(chǎn)總值,為推動(dòng)國(guó)民經(jīng)濟(jì)的整體發(fā)展和經(jīng)濟(jì)體制改革發(fā)揮了極大的促進(jìn)作用。但在中小企業(yè)的發(fā)展進(jìn)程中,普遍面臨著資金不足、后續(xù)投資乏力的情況,融資困境遲遲難以取得突破,已經(jīng)成為限制我國(guó)中小企業(yè)正常發(fā)展的最大難題。中小企業(yè)融資難是世界性難題,其在各個(gè)成長(zhǎng)階段面臨的巨額資金需求和市場(chǎng)經(jīng)濟(jì)難以依靠自身力量提供足夠資金的矛盾一直存在,雖然我國(guó)政府也在各個(gè)層面出臺(tái)一系列財(cái)稅政策予以大力支持,包括政府專項(xiàng)資金、財(cái)政擔(dān)保、稅收優(yōu)惠等,但最終效果均不如預(yù)期顯著。以往專家學(xué)者多從金融視角闡述解決融資困境的可能性,本文在一定的借鑒基礎(chǔ)上,從財(cái)稅政策的角度出發(fā)對(duì)中小企業(yè)融資問(wèn)題開展更深入的分析。首先,詳細(xì)介紹中小企業(yè)及中小企業(yè)融資的具體概念,并進(jìn)一步梳理了財(cái)稅政策促進(jìn)中小企業(yè)融資的作用機(jī)理;同時(shí),為了更為完整的研究財(cái)稅政策與中小企業(yè)融資之間的關(guān)系,本文從公共品理論、信息不對(duì)稱理論和有稅MM金融理論三個(gè)方面做出了詳細(xì)分析,以求全面論述財(cái)稅政策促進(jìn)中小企業(yè)融資的理論基礎(chǔ)。其次,從我國(guó)中小企業(yè)融資困難的具體現(xiàn)狀出發(fā),梳理我國(guó)目前已經(jīng)實(shí)施的財(cái)稅政策,并分別對(duì)其存在的各種問(wèn)題做出具體的分析;同時(shí),為了更深入的分析財(cái)稅政策是如何支持中小企業(yè)融資以及最終融資效果,本文從中小企業(yè)板和創(chuàng)業(yè)板選取140個(gè)企業(yè)樣本,經(jīng)過(guò)數(shù)據(jù)剔除,對(duì)剩余的129家企業(yè)進(jìn)行數(shù)值統(tǒng)計(jì),并以此建立多元回歸模型,在對(duì)其進(jìn)行異方差檢驗(yàn)以及修正后,得出最終結(jié)論即財(cái)稅政策對(duì)中小企業(yè)融資的整體效果是顯著的,但在分行業(yè)研究后,發(fā)現(xiàn)財(cái)稅政策對(duì)制造業(yè)和高科技產(chǎn)業(yè)的促進(jìn)作用最大,對(duì)現(xiàn)代服務(wù)業(yè)的促進(jìn)作用相對(duì)較小。最后,選取美國(guó)、日本和德國(guó)三個(gè)在財(cái)稅政策促進(jìn)中小企業(yè)融資經(jīng)驗(yàn)上較為成熟的國(guó)家,通過(guò)借鑒其各自國(guó)內(nèi)中小企業(yè)的發(fā)展概況和不同財(cái)稅政策,為提出緩解我國(guó)中小企業(yè)融資困境的財(cái)稅政策做出了貢獻(xiàn),同時(shí)提出了如引導(dǎo)民間資本流通等配套措施,從而構(gòu)建了一套完整有效且適合我國(guó)的中小企業(yè)融資財(cái)稅政策體系。
[Abstract]:Small and medium-sized enterprises (SMEs) are the main existing forms in the market economy and occupy an extremely important position in both developed and developing countries. The small and medium-sized enterprises in the national economy of our country undertake many tasks such as tax payment, employment, innovation, active urban and rural economy and so on, which is an important part of the whole market economy. In the latest data released, the number of small and medium-sized enterprises registered for industry and commerce in China reached 24 million in 2015. The main body of the market provides more than 50 percent of the country's taxes and more than 2/3 jobs, contributing more than 60 percent of the gross domestic product. In order to promote the overall development of the national economy and economic system reform has played a great role in promoting. However, in the development process of small and medium-sized enterprises, they are generally faced with the lack of funds, the lack of subsequent investment, and the difficulty of making a breakthrough in the financing predicament, which has become the biggest problem restricting the normal development of small and medium-sized enterprises in our country. The difficulty of financing for small and medium-sized enterprises is a worldwide problem. The contradiction between the huge demand for capital and the difficulty for the market economy to provide sufficient funds on its own has always existed in every stage of its growth. Although our government has also issued a series of fiscal and taxation policies at various levels to support them, including special government funds, financial guarantees, tax concessions, etc., the final effect is not as remarkable as expected. In the past, experts and scholars elaborated the possibility of solving the financing dilemma from the financial angle of view. Based on a certain reference, this paper makes a deeper analysis of the financing problems of SMEs from the perspective of fiscal and taxation policies. First of all, it introduces the specific concepts of SMEs and SME financing in detail, and further combs the mechanism of fiscal policies to promote SME financing; at the same time, In order to study the relationship between finance and taxation policy and financing of small and medium-sized enterprises, this paper makes a detailed analysis from three aspects: public goods theory, information asymmetry theory and tax MM finance theory. In order to comprehensively discuss the fiscal and taxation policies to promote the financing of small and medium-sized theoretical basis. Secondly, starting from the specific situation of financing difficulties of small and medium-sized enterprises in China, combing the fiscal and taxation policies that have been implemented at present in China, and making a specific analysis of their various problems respectively; at the same time, In order to further analyze how fiscal and taxation policies support SME financing and the final financing effect, this paper selects 140 enterprise samples from the SME board and the growth enterprise board, after data elimination, carries on the numerical statistics to the remaining 129 enterprises. Based on this model, the multivariate regression model is established. After the heteroscedasticity test and modification, the final conclusion is that the overall effect of fiscal and taxation policy on SME financing is significant, but after the study of different industries, It is found that fiscal and taxation policies promote the manufacturing industry and high-tech industry the most, but the modern service industry relatively less. Finally, three countries with mature experience in promoting SME financing are selected, which include the United States, Japan and Germany, and by learning from their domestic SMEs' development situation and different fiscal and taxation policies, This paper makes contributions to the financial and taxation policies to alleviate the financing difficulties of small and medium-sized enterprises in China, and puts forward some supporting measures such as guiding the circulation of private capital, so as to construct a set of complete, effective and suitable financial and taxation policy system for small and medium-sized enterprises in our country.
【學(xué)位授予單位】：江西財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F276.3;F812.0;F275
[Abstract]:Small and medium-sized enterprises (SMEs) are the main existing forms in the market economy and occupy an extremely important position in both developed and developing countries. The small and medium-sized enterprises in the national economy of our country undertake many tasks such as tax payment, employment, innovation, active urban and rural economy and so on, which is an important part of the whole market economy. In the latest data released, the number of small and medium-sized enterprises registered for industry and commerce in China reached 24 million in 2015. The main body of the market provides more than 50 percent of the country's taxes and more than 2/3 jobs, contributing more than 60 percent of the gross domestic product. In order to promote the overall development of the national economy and economic system reform has played a great role in promoting. However, in the development process of small and medium-sized enterprises, they are generally faced with the lack of funds, the lack of subsequent investment, and the difficulty of making a breakthrough in the financing predicament, which has become the biggest problem restricting the normal development of small and medium-sized enterprises in our country. The difficulty of financing for small and medium-sized enterprises is a worldwide problem. The contradiction between the huge demand for capital and the difficulty for the market economy to provide sufficient funds on its own has always existed in every stage of its growth. Although our government has also issued a series of fiscal and taxation policies at various levels to support them, including special government funds, financial guarantees, tax concessions, etc., the final effect is not as remarkable as expected. In the past, experts and scholars elaborated the possibility of solving the financing dilemma from the financial angle of view. Based on a certain reference, this paper makes a deeper analysis of the financing problems of SMEs from the perspective of fiscal and taxation policies. First of all, it introduces the specific concepts of SMEs and SME financing in detail, and further combs the mechanism of fiscal policies to promote SME financing; at the same time, In order to study the relationship between finance and taxation policy and financing of small and medium-sized enterprises, this paper makes a detailed analysis from three aspects: public goods theory, information asymmetry theory and tax MM finance theory. In order to comprehensively discuss the fiscal and taxation policies to promote the financing of small and medium-sized theoretical basis. Secondly, starting from the specific situation of financing difficulties of small and medium-sized enterprises in China, combing the fiscal and taxation policies that have been implemented at present in China, and making a specific analysis of their various problems respectively; at the same time, In order to further analyze how fiscal and taxation policies support SME financing and the final financing effect, this paper selects 140 enterprise samples from the SME board and the growth enterprise board, after data elimination, carries on the numerical statistics to the remaining 129 enterprises. Based on this model, the multivariate regression model is established. After the heteroscedasticity test and modification, the final conclusion is that the overall effect of fiscal and taxation policy on SME financing is significant, but after the study of different industries, It is found that fiscal and taxation policies promote the manufacturing industry and high-tech industry the most, but the modern service industry relatively less. Finally, three countries with mature experience in promoting SME financing are selected, which include the United States, Japan and Germany, and by learning from their domestic SMEs' development situation and different fiscal and taxation policies, This paper makes contributions to the financial and taxation policies to alleviate the financing difficulties of small and medium-sized enterprises in China, and puts forward some supporting measures such as guiding the circulation of private capital, so as to construct a set of complete, effective and suitable financial and taxation policy system for small and medium-sized enterprises in our country.
【學(xué)位授予單位】：江西財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F276.3;F812.0;F275
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