摘要
税收优惠、财政补贴是政府经济干预的主要政策工具,不仅引导产业调整,而且对规范收入分配体系发挥着重要作用。以2005—2021年沪深A股上市公司为研究对象,探讨税收优惠、财政补贴对公司内部收入不平等的影响及其作用机制。研究发现:税收优惠、财政补贴对员工工资均具有显著的正向影响,但对不同层级员工的激励效果存在显著差异,税收优惠对管理层平均工资的促进作用更大,从而扩大了公司内部收入不平等;财政补贴对普通员工平均工资的促进作用更大,但未扩大公司内部收入不平等。机制分析表明,税收优惠比财政补贴更容易通过盈余管理行为和薪酬业绩敏感性提升管理层平均工资,进而扩大公司内部收入不平等。实施差别化的财税政策、进一步提升财税政策的监管力度有助于完善公司内部收入分配体系。
Tax incentives and financial subsidies serve as primary policy instruments,facilitating industrial adjustment while regulating income distribution systems.This paper examines Shanghai and Shenzhen A-share listed companies(2005-2021)to analyze how these policies affect intra-firm income inequality.The results show that both tools significantly boost employee wages,but with divergent effects.Tax incentives increase managerial salaries greatly,exacerbating income disparity;whereas financial subsidies primarily elevate ordinary employees’wages,showing neutral inequality effects.Mechanism analysis shows that tax incentives are more likely to increase the average salary of managers through earnings management behavior and compensation performance sensitivity than fiscal subsidies,thereby widening income inequality within firms.Further strengthening the supervision of fiscal and tax policies will help improve the fair and orderly internal income distribution system of companies.
作者
康锋莉
李梁昌
KANG Fengli;LI Liangchang(Guangdong University of Foreign Studies,Guangzhou 510006)
出处
《财贸研究》
北大核心
2025年第6期73-85,共13页
Finance and Trade Research
关键词
税收优惠
财政补贴
公司内部收入不平等
tax incentives
financial subsidies
income inequality within companies
