报告题目：Favorable tax treatment for FDI firms and foreign ownership wage premium: Evidence from China
报 告 人：王潇（中国科学技术大学）
报告时间：2021年8月19日 10:00-12:00
报告地点：线上（腾讯会议）
主办单位：新黄金城667733新黄金城667733
内容摘要：
FDI firms usually pay higher wages than their local counterparts in host countries. This foreign ownership wage premium is often cited as evidence that FDI firms are more productive and create positive productivity spillovers to local firms when people argue for favorable tax treatment for FDI firms. Using China's firm-level data, we show that the causality can go in the opposite direction. Following acquisition, income tax rates for foreign-acquired firms decreased significantly relative to comparable firms that were acquired by domestic firms, even though the relative productivity between these two types of firms remains the same. In addition, foreign-acquired firms that experienced deeper tax rate cuts offer higher wage increases and have a higher ratio of wage expenses to total revenue. These findings are consistent with a model of heterogeneous workers in which host countries offer favorable tax treatment to FDI firms and firms screen applicants and bargain with workers to share matching surpluses of filling job vacancies. In this model, job matching surpluses increase after a firm is acquired by foreigners due to a decrease in the tax rate, resulting in a wage increase through wage bargaining. Our findings have important implications for the welfare of local employees and FDI tax policies in emerging markets.
报告人简介：
中国科学技术大学管理学院教授，国际金融研究院院长助理，北京大学经济学学士（2003年）和经济学硕士（2005年），美国威斯康斯（麦迪逊）大学经济学博士（2011年），主要研究国际经济学和应用计量经济学，在Journal of International Economics, Journal of Banking and Finance等国际知名期刊发表论文多篇，获蒲山优秀论文奖（2016年）。
