分类号F27密级全部公开
收藏编号___________学号170725074
学校代码10386编号__________
(专题研究)
税收负担对房地产企业经营绩效的影响研
究
研究方向：财务管理
研究生姓名：林梦馨
指导教师、职称：张白教授
协助导师、职称：
所在学院：经济与管理学院
答辩委员会主席签名：
二〇二〇年九月
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II
税收负担对房地产企业经营绩效的影响研究
摘要
自1998年国家正式推行住房市场化改革，终止了福利分房制度，我国的房
地产行业的正式进入市场化交易。房地产行业的发展在这过去的20年里发展速
度最快，且其涉及的产业链的范围广。同时，也是中国民众生活所必需的刚性需
求，属于基础性产业。所以房地产行业的发展更加牵涉群众的根本利益，也关乎
国家经济的稳定，对提高我国的就业率水平和国民经济的发展水平起到了不可或
缺的作用。然而房地产企业受国家宏观政策影响力度大，体现出房地产企业整体
税负水平高，税负结构不合理，反而不利于房地产企业的整体发展，因此税收负
担对房地产企业的经营绩效的影响是值得研究探讨。
本文将从六个方面研究税收负担对房地产企业经营绩效的影响。第一、简单
介绍了税收负担的内涵及衡量标准、和企业经营绩效指标的界定；第二、从三方
面进行解释分析税收负担对房地产企业经营绩效影响的过程，即销售价格机制、
利益分配机制、资本运转机制；第三、对我国房地产企业税收负担的现状进行分
析；第四、以我国上市的房地产企业为研究对象，构建经营绩效评价指标体系，
对我国上市的房地产企业的经营绩效进行因子分析以及评价其经营绩效水平；第
五、采用实证分析的方法分析研究我国上市的房地产企业承担的税负对其企业经
营绩效水平的影响；第六、根据我国上市的房地产企业的税收负担对其经营绩效
的影响研究的结果，并以此提出相关的企业和政府建议。
本文主要立足于以我国上市的房地产企业为背景，采用其经营的财务数据并
结合宏观的经济数据，分析税收负担对房地产企业经营绩效的影响研究。由此提
出相应结论，即房地产企业的税负重且出现税负结构特殊性，房地产企业的税金
及附加对其经营绩效的影响不显著，而所得税和实际税负的税负过重对其经营绩
效产生不利的影响。
关键词：房地产企业；税收负担；经营绩效
III
The impact of tax burden on the performance of
real estate enterprises
Since 1998,the state has officially carried out housing market-oriented reform,
terminated the welfare housing system,and China's real estate industry has officially
entered the market-oriented transaction.The development of the real estate industry
has been the fastest in the past 20years,and it involves a wide range of industrial
chains,at the same time,It is also a rigid demand for Chinese people's life,and
belongs to the basic industry,Therefore,the development of the real estate industry is
more related to the fundamental interests of the masses and the stability of the
national economy,which plays an indispensable role in improving the level of
employment rate and the development of the national economy.However,real estate
enterprises are greatly influenced by the national macro policies,which shows that the
overall tax burden level of real estate enterprises is high and the tax burden structure
is unreasonable,On the contrary,it is not conducive to the overall development of real
estate enterprises,so the impact of tax burden on the operating performance of real
estate enterprises is worth studying.
This paper will study the impact of tax burden on the business performance of
real estate enterprises from six aspects.Firstly,it briefly introduces the connotation
and measurement standard of tax burden,and the definition of business performance
index;Secondly,it explains and analyzes the process of the influence of tax burden on
the performance of real estate enterprises from three aspects,namely,the mechanism
of sales price,the mechanism of profit distribution and the mechanism of capital
operation;Thirdly,it analyzes the current situation of tax burden of real estate
enterprises in China;Fourthly,taking the listed real estate enterprises in China as the
research object,this paper constructs the operation performance evaluation index
system,analyzes the operating performance of the listed real estate enterprises in
China and evaluates their operation performance level;Fifthly,the empirical analysis
method is used to analyze the impact of tax burden on the performance of listed real
estate enterprises;Sixth,according to the research results of the impact of tax burden
of listed real estate enterprise on their business performance,this paper puts forward
relevant suggestions for enterprises and the government.
This paper is mainly based on the background of listed real estate enterprises in
China,this paper analyzes the impact of tax burden on the business performance of
real estate enterprises by using their financial data and macroeconomic data.It is
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concluded that the tax burden of real estate enterprises is heavy and the structure of
tax burden is special.The tax and surcharges of real estate enterprises have no
significant impact on their business performance,while the tax burden of income tax
and actual tax burden has a negative impact on their business performance.
Keywords:Real estate company；Tax burden；Business performance
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