作者：Jiawei Liu, Yao Zhou and Xiaoqi Chen
题名：Market segmentation, infrastructure construction and corporate tax avoidance in China
期刊：International Review of Economics & Finance, 2026
摘要：This study investigates the impact of provincial-level market segmentation on corporate tax avoidance in China, exploiting quasi-natural experiments from high-speed rail expansion and the digital infrastructure construction. We find that market segmentation substantially raises tax avoidance among listed firms. The result is robust to addressing endogeneity and using alternative measures of key variables. Further analysis shows that the effect is weaker in regions with greater marketization, after the implementation of the Golden Tax Project III, or alongside advances in digital government development. Conversely, it is stronger for firms with geographically dispersed subsidiaries, weaker internal controls, binding financing constraints, or management lacking overseas experience. In contrast, improved transport and digital infrastructure reduce tax avoidance by lowering information asymmetry and enhancing factor mobility. These findings highlight how market integration policies, such as strategic infrastructure investment, can better align corporate tax behavior with goals of fiscal transparency and efficient resource allocation.
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