Research On The Impact Of Resource Tax Reform On The Performance Of Coal Listed Companies

Resource tax reform has a significant impact on coal industry,and the business performance of these enterprises will be influenced inevitably.In recent years,the decline of the coal industry seems to be the norm,and coal prices are vulnerable to the external environment.Therefore,the success or failure of the coal resource tax reform should arouse wide public concern.Based on the coal resource tax reform as the breakthrough point,this article researches the influence on coal listed companies operating performance from theory and empirical study.First of all,the article presents a brief introduction on the change course of coal resource tax and its current situation.It is found that the coal resource tax has increased.It shows the proportion of the tax revenue will continue to increase according to the existing resource tax reform background.Second,the article analyzes the impact of tax burden and production cost on the operation performance of coal industry on the theoretical level.Third,according to China’s listed companies operating performance evaluation system,collecting the data of 23 coal listed companies in 2009-2016,respectively making a line chart histogram and forms,you can see sample enterprise resource tax and its regional differences,and can intuitively reflect the certain negative impact between reform of resource taxes and the operating performance of coal listed companies.In the empirical analysis stage,this article selects quick asset ratio,receivable turnover ratio,revenue year-on-year growth rate and net assets as four indicators to evaluate business performance and use the Share of resource tax as explanatory variables.In order to avoid the randomness,the operating per share cash flow,asset-liability ratio and total assets are used to control variables virtual variables.At the same time,this article introduces the policy virtual variables to observe the correlation coefficient and discusses the concrete influence on operating performance.The empirical results show that coal resource tax reform and business performances of listed companies exist significant negative correlation relationship.The research of this paper draws the following conclusions mainly:(1)Overall,although the coal resource tax reform to the enterprise’s solvency has a certain role in promoting,in operation with solvency ability of growth and profitability of the overall business performance have a reverse significantly effect.(2)There are regional differences in coal resource tax burden of listed companies.Coal industry which is relatively important provinces with coal takes heavier resource tax burden.Enterprises with their respective jurisdictions take lower resource tax burden.Most provinces and regions had reduced the burden,but there are also some provinces and regions have great resource tax pressure.(3)There are regional differences in the operation performance of 23 coal listed companies in China.The central region is superior to the east and west,and the operating capacity is the most obvious.Finally,according to the results of study,the article puts forward some operational Suggestions to promote further the reform of resource taxes from reducing resource tax as a proportion of total national tax revenue appropriately,establishing differential tax rate adjustment system,improving the system of government subsidies to balance regional development according to local conditions.