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论文编号：	10174
作者编号：	2120162698
上传时间：	2018/6/11 10:59:24
中文题目：	客户集中度与上市公司避税行为的相关性研究
英文题目：	Customer Concentration and Corporate Tax Avoidance
指导老师：	李姝
中文关键字：	客户集中度；企业避税行为；市场竞争情况
英文关键字：	Customer concentration, Corporate tax avoidance, Industry Competition
中文摘要：	客户作为企业重要的利益相关者，对企业的经营发展的各个方面都起着不容忽视的作用。密切的客户关系有利于推进公司的供应链一体化战略，为交易双方获取并巩固长期竞争优势提供关键支撑，但另一方面也会提高企业的经营风险与财务风险。 根据已有文献，客户集中度高的公司往往倾向于持有更多现金以对冲经营风险与财务风险。且为了维持与大客户的关系，客户集中度高的公司有更多的动机向重要客户展现良好的会计盈余。与之相对应的，所得税支出是一家公司重要的现金支出，所得税费用也会对公司的利润指标产生较大的影响。因此，避税行为可以同时提高企业的现金持有水平和利润水平，恰好可以成为公司防范“客户集中”风险的有效手段。在此基础上，本文以2012-2016年所有A股上市公司为研究样本进行实证研究，对客户集中度与上市公司避税行为的相关关系进行探讨。结论显示，客户集中度与上市公司避税行为呈现正相关关系。也就是说，客户集中度越高的公司，往往避税程度也越高。 其次，本文按照产权性质对样本进行了分类，研究发现对于非国有企业而言，客户集中度与上市公司避税程度之间仍然存在显著的正相关关系；而国有企业的客户集中度与避税程度间不再具有显著的相关性。 此外，企业所处的行业竞争程度和企业自身的竞争地位可以通过对客户转换成本和议价能力发挥影响，对客户集中度与上市公司避税行为之间的相关关系起到显著的调节作用。其中，随着行业竞争程度的增强，客户集中度对上市公司避税程度的影响更加显著；而企业自身竞争地位的增强，可以削弱客户集中度对上市公司避税程度的影响。
英文摘要：	Tax revenue is the main source of fiscal revenue and thus an important means for the state to carry out macroeconomic regulation, guide the allocation of resources and promote economic development. According to existed research, companies with high customer concentration tend to hold more cash to control the risks they face, and they usually have stronger incentives to manage earnings upwards in order to maintain their relationship with large customers. Since tax planning can increase both cash flow and accounting earnings, firms with a concentrated customer base may be more likely to engage in tax avoidance. In this regard, this paper conducts an empirical study of all A-share listed companies from 2012 to 2016 as research samples. The conclusion shows that the customer concentration is significantly positively correlated with the degree of tax avoidance. Due to the low operating risk of state-owned companies, governmental suppliers have lower cash flow risk, thus decrease the incentives to take tax avoidance action. On this basis, this study shows that for non-state-owned enterprise, there is still a significant positive correlation between customer concentration and corporate tax avoidance. But for state-owned enterprises, the effect of customer concentration on tax avoidance is no longer significant. In addition, the degree of competition in the industry and the supplier’s market share can affect the customer’s conversion cost and bargaining power, thus affects the correlation between customer concentration and tax avoidance. The empirical results show that when the industry competition of the supplier is fierce, the influence of customer concentration on the tax avoidance of the company will increase accordingly.
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