双边税收协定是国与国之间为了避免双重征税而签订的协议,但却往往被第三国滥用于避税目的,与避税地进行税收情报交换是为了更好地打击跨国避税,但实际效果如何尚不明确。我国到目前为止已经与101个国家签订了双边税收协定,并且在短短5年内和世界上主要避税地签订了税收情报交换协定。本文构建了涵盖78个投资国和238个被投资国2001-2013年的数据库,就双边税收协定和税收情报交换对跨国公司避税行为的影响进行了研究。研究发现,跨国投资者确实会将有价证券资产转移至没有签订税收情报交换协定的国家,尤其是那些与被投资国签订了双边税收协定的国家。例如,某国与避税地签订税收情报交换协定后,该国转移到避税地的有价证券资产平均下降了30.39%。我国较为广泛的双边税收协定网络和与避税地进行的税收情报交换对于打击跨国避税起到了积极的效果。 Bilateral tax treaties are agreements between countries to avoid double taxation, but are often abused by third countries for tax avoidance purposes. Tax information exchange with tax havens is intended to better combat cross-border tax avoidance but the actual effect is still low unclear. To date, China has signed bilateral tax treaties with 101 countries and has signed tax information exchange agreements with major tax havens in the world in just five years. This paper builds a database of 2001-2013 covering 78 investment countries and 238 invested countries and studied the impact of bilateral tax treaties and tax information exchange on tax avoidance behavior of multinational corporations. The study found that multinational investors do indeed transfer their portfolio of securities to countries that have not signed a tax information exchange agreement, especially those countries that have bilateral tax treaties with the countries they invest. For example, the value of assets in securities transferred to tax havens on average dropped by 30.39% after a country signed a tax information exchange agreement with the tax havens. The wider bilateral tax treaty network in our country and the exchange of tax information with tax havens have played a positive role in combating cross-border tax avoidance.