Research On The Impact Of Tax Avoidance On Commercial Credit Financin

Taxation is the main form and source of national financial revenue,and it is also an important means for the state to implement macro-control.According to the 2020 World tax report released by Pricewaterhouse Coopers and the World Bank,China’s total tax and payment tax rate is 59.2%,down 5.7% from the previous year,and the tax business environment continues to be optimized.however,the tax burden is still at a high level in the world,in order to reduce the tax burden,enterprises will carry out tax evasion activities.Although this behavior will bring tax-saving benefits to enterprises,it will also lead to information asymmetry and agency problems,and even damage corporate reputation,which may have an impact on its financing.At present,China is in an important period of economic transformation,and the capital market and financial system need to be improved.Commercial credit financing can effectively alleviate the financing difficulties of enterprises and optimize capital management,which is a widely used way of short-term debt financing.Based on this background,it is of great significance to explore the impact of tax evasion activities of Chinese enterprises on commercial credit financing.By combing the existing literature,we can see that at present,few scholars have studied the effect of tax evasion on commercial credit financing,and the literature that brings accounting conservatism and external audit supervision into the research framework is even more rare.Based on this,this paper chooses commercial credit financing as a starting point to study the economic consequences of tax evasion activities,and combines the internal and external governance mechanisms of the company.further explore the impact of accounting conservatism and external audit supervision on the relationship between tax evasion and commercial credit financing.First of all,this paper summarizes the relevant literature of tax evasion,commercial credit financing,accounting conservatism and external audit supervision.Secondly,it analyzes the relationship between tax evasion and commercial credit financing of listed companies on the basis of effective tax planning theory,information asymmetry theory and principal-agent theory.as well as the relationship between accounting conservatism and external audit supervision,and put forward the research hypothesis.Finally,taking the data of Shanghai and Shenzhen A-share listed companies from 2009 to 2020 as research samples,this paper uses the method of empirical analysis to explore the impact of tax evasion on commercial credit financing.and the role of accounting conservatism and external audit supervision in regulating the relationship between tax evasion and commercial credit financing respectively,and then draw a conclusion:(1)There is a significant negative correlation between tax evasion and commercial credit financing,that is,the higher the degree of tax evasion,the more difficult it is for enterprises to obtain commercial credit financing.(2)Accounting conservatism can weaken the negative correlation between tax evasion and commercial credit financing.(3)External audit supervision can weaken the negative correlation between tax evasion and commercial credit financing.Finally,according to the above conclusions,this paper puts forward the relevant policy recommendations and research prospects.