| The report of the 19 th National Congress of the Communist Party of China in 2017 clearly stated that in the context of the new era,the mixed-ownership economy should be regarded as a major measure and key link in the "reform of state-owned enterprises and the development of private enterprises",and after that,relevant national documents mentioned many times that government should encourage private enterprises to participate in mixed ownership reform,providing new opportunities and space for private enterprises to develop and obtain synergies,thus better promoting the accelerated development of existing businesses of private enterprises.The " 14 th Five-Year Plan" was issued,which made the purpose of the mixed ownership reform of state-owned enterprises more clear-"deepening the reform of state-owned capital and state-owned enterprises,making state-owned capital and state-owned enterprises stronger,better and bigger ".However,since SOEs have to bear high tax burden under government intervention,it has certain theoretical and practical significance to study mixed ownership.This paper first reviews the background and history of mixed ownership reform,and then,combing through the extensive literature on mixed ownership reform and corporate tax avoidance,combined with relevant theories such as principal-agent,A-share state-owned listed companies data from 2012-2019 are selected as a sample to conduct a study on the relationship between the degree of mixed ownership reform and corporate tax avoidance.The results of the study indicated that for SOEs,mixed ownership reform is beneficial to their reduction of policy burden and tax expenditure,and there is a positive effect on their degree of tax avoidance.Further investigated that add the effect of introducing heterogeneous capital on SOEs’ tax avoidance behavior,and found that there are differences in the effect of different capital source investment subjects on SOEs’ tax avoidance.In addition,the effect of SOE mixed ownership reform on tax avoidance varies among regions with different degrees of marketization.Finally,the full paper is summarized and recommendations are made from both the enterprise and national government.This paper not only enriches the literature on mixed ownership reform in SOEs and corporate tax avoidance,but also provides policy recommendations on how SOEs can more successfully carry out mixed ownership reform on the basis of the previous one.The mixed ownership reform of SOEs breaks the original nature,introduces heterogeneous capital,increases the number of owners,disperses corporate equity,reduces the concentration of corporate equity,and heterogeneous capital breaks the original basis of homogeneous capital collusion,further converts and integrates shares of different property rights,effectively alleviates the lack of owners of SOEs,improves the regulatory failure,and solves the problem of "one share dominance",which makes the state-owned shareholders supervised and checked by the heterogeneous shareholders,and improves the effectiveness of internal supervision of enterprises,thus to a certain extent can inhibit the tax avoidance behavior of enterprises. |
