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Table 9 Effect of macroeconomic and monetary policies

From: Does access to credit reduce SMEs’ tax avoidance? Evidence from a regression discontinuity design

  \(BTD\) \(DDBTD\)
(1) (2) (3) (4)
Panel A: 2SLS     
\(TRC\) − 0.270* − 0.220* − 0.173* − 0.159*
  (0.138) (0.119) (0.098) (0.085)
Polynomial Linear Quadratic Linear Quadratic
Covariates Yes Yes Yes Yes
Sample size 2214 4667 2440 4919
Panel B: Sharp RDD     
\(SME\) − 0.041*** − 0.041*** − 0.027*** − 0.027**
  (0.012) (0.014) (0.010) (0.012)
Polynomial Linear Quadratic Linear Quadratic
Covariates Yes Yes Yes Yes
Sample size 2421 4981 2638 5135
  1. \(TRC\) is an indicator variable that is equal to one if the firm's bank loan raise after TRRRCs. \(SME\) is an indicator variable that is equal to one if the firm's operation revenue was below the threshold of operation revenue. \(BTD\) and \(DDBTD\) are variables to measure tax avoidance. The discontinuity estimates are based on local linear/quadratic regressions. Standard errors are in the parentheses. *, **, and *** represent statistical significance level at the 1%, 5% and 10% levels, respectively