房产税对企业投资行为的影响——来自上海和重庆的经验分析

本文以上海和重庆房产税试点改革为重点,在分析房产税改革对企业投资影响机理的基础上,基于2006~2016年度35个大中城市的面板数据,采用合成控制法实证分析房产税改革对企业投资的影响效应,结合排序法与双重差分法进行稳健性检验。结果发现,相比房产税改革试点前,地方企业投资出现不同程度的提升。这表明地方政府可注重研究本地企业投资现状,在中央的部署下,通过适度调整房产税政策来引导企业投资,使得投资结构与地区经济结构相适应,实现地区经济高质量持续发展。

The Impact of Real Estate Tax on Enterprise Investment Behavior--Experience Analysis from Shanghai and Chongqing

Based on the analysis of the impact mechanism of real estate tax reform on enterprise investment and panel data of 35 large and medium-sized cities from 2006 to 2016,this paper makes an empirical analysis of the impact of real estate tax reform on enterprise investment by using composite control method,and combines ranking method and double difference method to test the robustness.The results show that compared with before the pilot reform of real estate tax,the investment of local enterprises has increased in different degrees,which indicates that local governments should pay attention to the study of the investment status of local enterprises.Under the deployment of the central government,enterprises can be guided to invest by moderately adjusting the real estate tax policy,so that the investment structure can be adapted to the regional economic structure and achieve high-quality and sustainable development of the region.