IPO税收成本与绩效关系的实证研究——基于26家城（农）商行财务数据的分析.docVIP

PAGE PAGE 24 IPO税收成本与绩效关系的实证研究——基于26家城（农）商行财务数据的分析 摘要：本文立足于同花顺iFinD金融数据库中的26家拟上市城（农）商行的相关数据，针对其实际税负水平及其绩效相关关系问题，基于国内外理论实证分析拟上市城（农）商行相关数据，通过多元线性回归分析探究总体税负和所得税负、营业税负、资本结构、企业规模、盈利能力之间的相关性，实证分析结果表明税负和所得税负、营业税负成正相关，与资本结构、企业规模、盈利能力成负相关。 关键词：城（农）商行；IPO税收成本；绩效； An Empirical Study of IPO Tax Burden and Performance —Analysis Based on 26 Commercial Banks’ (Agricultural Firms) Panel Data Abstract: Article is based on iFinD financial database about 26 pre-ipo city commercial banks (agricultural firms),according to the relationship of tax burden level and its performance, analyze related data about city commercial banks (agricultural firms) basing on an empirical analysis of domestic and foreign theory. Through the analysis of multiple linear regression to explore correlation between tax burden and tax income tax, tax burden and business tax, tax burden and capital structure, tax burden and firm size, tax burden and profitability, the empirical analysis results show that tax burden and income tax, tax burden and business tax is positive correlation, tax burden and capital structure, tax burden and firm size, tax burden and profitability is negative correlation. Keywords: City Commercial Banks (Agricultural Firms); IPO Tax Burden; Performance; 一、引言 （一）IPO背景 目前在我国A股上市的城商行仅就南京银行、宁波银行和南京银行这三家城商行。自2007年上市以来，其资产规模不断扩大，增长速度远远高于上市银行的整体水平，逐渐在新的银行业竞争格局中占有一席之地。据我国上市银行2015年度财报披露显示，虽然这三家城商行整体规模较小，但从下表可以看出这三家城商行营业收入增长率和净利润增长率远高于其他股份制银行。 表1 2015年上市银行营业收入及净利润 股票代码名称营业收入(亿元) 增长率(%) 净利润(亿元) 增长率(%) 600036.SH 招商银行 2014.71 21580.18 3.512997556 600000.SH 浦发银行 1465.5 18509.97 7.679476351 601166.SH 兴业银行 1543.48 23506.5 6.564275195 600016.SH 民生银行 1544.25 13470.22 3601998.SH 中信银行 1451.34 16417.4 0.689921359 601818.SH 光大银行 931.59 18.627039 295.77 2.243501106 000001.SZ 平安银行 961.63 30218.65 10600015.SH 华夏银行 588.44 7.213264098 189.52 5.154524774 601169.SH 北京银行 440.81 19168.83 7.906174102 601009.SH 南京银行 228.30482 42.7