Abstract: The fiscal pressure not only affects the meso-level local government behavior, but also has an impact on the micro-enterprise tax avoidance behavior. Based on this, this paper uses the Shanghai-Shenzhen A-share listed companies from 2008 to 2017 as research samples, and applies the simultaneous equations model and 3SLS estimation method to study the endogenous relationship between the fiscal pressure and the corporate tax avoidance.The study finds that the greater the fiscal pressure, the lower the degree of the corporate tax avoidance, and the relationship between the two is more pronounced in areas with weak tax collection and management. The above conclusion is still valid after conducting a robustness test. Further research reveals that compared with private enterprises, this negative correlation is more pronounced in the sample of state-owned enterprises; if the company has a high financial pressure and if it actively reduces its tax avoidance behaviors, it is more likely to gain policy tilt. This article provides a new perspective for the study on the relationship between the fiscal pressure and the corporate tax avoidance from a dynamic perspective and is of great value for the government as to how to alleviate the fiscal pressure, how to maintain the relationship between the government and the enterprise, and how to understand the corporate political strategy.

Key words: Fiscal Pressure, Corporate Tax Avoidance, Endogenous, Tax Collection and Management

摘要： 财政压力不仅影响中观地方政府行为,也作用于微观企业避税行为。基于此,本文以2008 ~ 2017年我国沪深A股上市公司为研究样本,通过联立方程组模型和3SLS估计方法研究了财政压力与企业避税之间相互影响的内生关系,同时考察税收征管强度在二者之间作用机理。研究发现,财政压力越大,企业避税程度越低,且二者之间的关系在税收征管弱的地区更为显著,以上结论在进行稳健性检验后依然成立。进一步研究发现,相对于民营企业,这种负相关关系更显著地存在于国有企业样本中;财政压力大,企业主动减少避税行为,更有助于其获得政策倾斜。本文基于动态视角提供了财政压力与企业避税之间相互关系的一个新研究视角,对于政府如何缓解财政压力,企业如何维系政企关系,以及了解企业政治战略具有重要价值。

关键词: 财政压力, 企业避税, 内生关系, 税收征管