报告题目：The Rise of Profit and The Decline of Entry: Effects of Anti-Tax Avoidance on MNCs in China

报告人：刘志阔（复旦大学）

报告时间：2023年4月6日（星期四）下午1:00-2:30

报告地点：bat365中文官方网站大楼318

邀请部门：经济学系

报告人简介：

刘志阔，复旦大学经济学院教授、博士生导师，主要研究税收政策与企业行为，相关成果发表在American Economic Review、Review of Economic Studies、Review of Economics and Statistics、《经济研究》、《管理世界》等国内外权威期刊，并获得教育部第八届高等学校科学研究优秀成果奖、上海市第十四届和第十五届哲学社会科学优秀成果奖一等奖、第四届张培刚发展经济学青年学者奖等，主持国家自然科学基金优秀青年科学基金项目和青年科学基金项目。

报告摘要：

Anti-tax avoidance on multinationals has been at the top of the international tax policy agenda since the 2008 global financial crisis. This paper employs the DID method to identify the effects of anti-tax avoidance on MNCs in China and decomposes the factors through which the policy takes effect. We find that for MNCs with negative profit ex ante, profit-to-asset ratio of MNCs in exposed industries increased by nearly 10%. Further decomposition of profit shows that both revenue and cost increased, for 30% and 20% separately, of which the scale is consistent with increase of profit. However, the retained profits are at the cost of a shrinking of the real economy, such as a decline in FDI entry.