Duan, Yige and Terry S. Moon. (2026). Impacts of Corporate Tax Cuts on Firms and Workers: Evidence from Small Businesses. American Economic Journal: Economic Policy 18(4): 208-244.

https://www.aeaweb.org/articles?id=10.1257/pol.20240813

【标题】

Impacts of Corporate Tax Cuts on Firms and Workers: Evidence from Small Businesses

减税如何影响企业绩效和员工收入：来自小微企业的证据

【作者】

段伊戈Yige Duan （上海交通大学安泰经济与管理学院）

Terry S. Moon（不列颠哥伦比亚大学 University of British Columbia）

【摘要】

This paper assesses the effects of corporate tax cuts on small firms and their workers. Following a reform in Quebec, Canada, firms receiving tax cuts expand and their workers' earnings increase compared to workers and firms without tax cuts. We estimate that overall workers bear 35 percent of the tax burden, with larger incidence falling on those with ownership in the companies they work at, through increased profits. Additionally, workers across each tercile of the within-firm earnings distribution benefit from tax cuts, possibly because fair-wage concerns matter when after-tax profits rise due to close interactions among workers in small corporate environments.

针对加拿大魁北克省2014年一项针对小企业所得税的优惠政策，本文评估了企业减税对小企业绩效和员工收入的作用。利用加拿大企业和个人的税务行政数据和省份-行业-时间三重差分模型，我们发现减税促进了企业投资、就业、营收和利润的扩张，在岗员工收入也相应增加。在分配上，35%的税收优惠被用于提高员工收入，特别是持股员工的分红收入。此外，员工收入的增加较为平等地作用于整个收入分布；这与小企业员工间联系密切，对工资的公平性具有更高要求的情况是一致的。

【个人介绍】

段伊戈，不列颠哥伦比亚大学经济学博士，现任上海交通大学安泰经济与管理学院助理教授、硕士生导师、上海交通大学中国发展研究院校内研究员，入选上海市海外高层次人才计划。他的研究方向是劳动和城市经济学，论文发表于Management Science、Journal of Public Economics、American Economic Journal: Economic Policy等期刊。相关成果获得2022年亚太金融市场年会最佳论文奖、2024年Management Science最佳论文奖、《上海证券报》报道，参与撰写的资政报告获得上海市委、上海市发改委主要领导批示。