Digitization of Tax Collection and Maturity Mismatch of Enterprises’ Investment and Financing: A Study on the Mechanism of Firm and Market Relationship
Digitization of Tax Collection and Maturity Mismatch of Enterprises’ Investment and Financing: A Study on the Mechanism of Firm and Market Relationship
ZHOU Bo, HE Wei
School of Finance and Taxation, Dongbei University of Finance and Economics, Dalian 116025, China
Abstract Based on the data of Chinese A-share listed companies from 2009 to 2019, this paper examines the impact of digitization of tax collection on the maturity mismatch of enterprises’ investment and financing. The study shows that the digitization of tax collection can alleviate the maturity mismatch of enterprises’ investment and financing. From the perspective of mechanism, the taxation effect of digitalization of tax collection will aggravate the maturity mismatch of investment and financing, but its supervision and governance effect and market optimization effect will ease the maturity mismatch of investment and financing, as a whole, the effect of supervision and market optimization is stronger than that of taxation. In addition, in regions with high levels of digital transactions and fiscal pressure, as well as politically connected enterprises, the digitization of tax collection can better alleviate the maturity mismatch of investment and financing. This study can deepen the government’s understanding of effectively using big data technology to build a standardized government-market relationship and deeply influence micro-enterprise business decisions, and provide theoretical support and practical guidance for high-quality economic development and China’s modernization.
ZHOU Bo,HE Wei. Digitization of Tax Collection and Maturity Mismatch of Enterprises’ Investment and Financing: A Study on the Mechanism of Firm and Market Relationship. Economic Survey, 2024, 41(5): 0133.
2024, Vol. 41 
