Research On The Impact Of Tax And Fee Burden On The Financialization Of Construction Enterprises

In the context of the current normalization of the epidemic,the economy continues to decline,the construction industry is facing greater uncertainty in economic development,and the profit of the company’s main business continues to shrink,forcing the management to seek new profit growth points.At this time,the high-yield and fast financial market gradually entered everyone’s field of vision.The disparity in investment income between traditional construction industry and modern financial industry has caused construction enterprises to reduce capital investment in the main business in order to increase the scale of their financial assets,which intensifies the financialization of construction enterprises.The government’s various taxes and policy charges are the necessary economic sources for the country’s development,and are also an important means of regulating enterprises.While various taxes and fees bring fiscal revenue to the government,they also increase the pressure on business operations.The preferential tax and fee can ease the tax and fee burden,guide the return of capital,increase the enthusiasm of construction enterprises for production and operation,ensure the investment of productive capital,reduce the scale of financial assets of enterprises,guide management to optimize asset allocation,restrain the financialization of enterprises,and realize its The main business develops steadily,which in turn promotes the better development of my country’s infrastructure construction.Starting from theoretical analysis,this thesis studies the mechanism of tax burden on the financialization of construction enterprises;establishes a panel data model to empirically test the impact of tax burden on the overall financialization of construction enterprises and the effectiveness of preferential tax and fee policies.Firstly,by discussing the advantages and disadvantages of government intervention and free market,the necessity of tax and fee policy is brought out,and government intervention is used to guide enterprise decision-making,thereby improving the financialization of enterprises;The status quo of financialization;secondly,combined with the influencing factors of corporate financialization,an individual fixed-effect model is constructed to obtain empirical results.For every 1 unit increase in tax burden,the degree of financialization of construction enterprises increases by 0.496units;The test shows that the tax and fee policies introduced by my country can effectively restrain the financialization of construction enterprises.Finally,some policy suggestions are put forward: in terms of tax and fee policies,adjust corporate tax policies,optimize the cost of corporate fees,and adopt differentiated tax and fee policies;in terms of supporting measures,strengthen the supervision of short-term financial assets and guide enterprises to formulate reasonable business goals,to encourage enterprises to develop their main business.