Institutional Ownership And Corporate Tax Avoidance
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The Effect Of Foreign Institutional Ownership On Corporate Tax Avoidance
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Author : Iftekhar Hasan
language : en
Publisher:
Release Date : 2019
The Effect Of Foreign Institutional Ownership On Corporate Tax Avoidance written by Iftekhar Hasan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
This study examines whether foreign institutional investors (FIIs) help explain variation in corporate tax avoidance and whether mechanisms such as tax morality, investment horizon, and corporate governance underlie the relation between FIIs and tax avoidance. We find robust evidence that FIIs are negatively associated with corporate tax avoidance. Moreover, this negative association is dominated by FIIs from countries with high tax morality, FIIs with long-term investment horizons, and FIIs from countries with high corporate governance quality. We conclude that FIIs play an active role in shaping corporate tax avoidance policy.
Institutional Ownership And Corporate Tax Avoidance
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Author : Mozaffar Khan
language : en
Publisher:
Release Date : 2016
Institutional Ownership And Corporate Tax Avoidance written by Mozaffar Khan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
We provide new evidence on the agency theory of corporate tax avoidance (Slemrod 2004; Crocker and Slemrod 2005; Chen and Chu 2005) by showing that increases in institutional ownership are associated with increases in tax avoidance. Using the Russell index reconstitution setting to isolate exogenous shocks to institutional ownership, and a regression discontinuity design that facilitates sharper identification of treatment effects, we find a significant and discontinuous increase in tax avoidance following Russell 2000 inclusion. The tax avoidance involves the use of tax shelters, and immediate benefits include higher profit margins and likelihood of meeting or beating analyst expectations. Collectively the results shed light on the effect of increased ownership concentration on tax avoidance.
The Effect Of Foreign Institutional Ownership On Corporate Tax Avoidance
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Author : Iftekhar Hasan
language : en
Publisher:
Release Date : 2016
The Effect Of Foreign Institutional Ownership On Corporate Tax Avoidance written by Iftekhar Hasan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
The Relationship Of Corporate Tax Avoidance Cost Of Debt And Institutional Ownership
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Author : Utkirjon Kholbadalov Shokirjonovich
language : en
Publisher:
Release Date : 2011
The Relationship Of Corporate Tax Avoidance Cost Of Debt And Institutional Ownership written by Utkirjon Kholbadalov Shokirjonovich and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Corporate debt categories.
Governing Corporate Tax Management
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Author : Chen Zhang
language : en
Publisher: Springer Nature
Release Date : 2019-10-04
Governing Corporate Tax Management written by Chen Zhang and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-10-04 with Law categories.
This book focuses on corporate sector development in the context of transition economies, such as China. In doing so, the book uses quantitative methods to test several hypotheses that are salient to the Chinese economic situation. Topics covered in the book include the relationship between tax management and firm performance, the extent to which a short-term focus on tax management can lead to long-term vulnerabilities, the impact of government ownership on tax management impact, and the link between the co-evolution of marketization and corruption, and institutional change and tax management. With that the book offers rich empirical evidence to examine tax management, firm performance and corruption in a broad context, while permitting comparison between the Chinese experience and the market economies.
Essays On Institutional Ownership And Tax Avoidance
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Author : Simone Traini
language : en
Publisher:
Release Date : 2019
Essays On Institutional Ownership And Tax Avoidance written by Simone Traini and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Corporations categories.
Institutional Ownership And Stock Price Crash Risk
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Author :
language : en
Publisher: GRIN Verlag
Release Date : 2024-07-19
Institutional Ownership And Stock Price Crash Risk written by and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-07-19 with Business & Economics categories.
Master's Thesis from the year 2024 in the subject Business economics - Investment and Finance, grade: 1,7, University of Hamburg, language: English, abstract: This study uses OLS regressions to analyze the impact of institutional ownership (IO) investment horizons on stock price synchronicity and crash risk for a sample of U.S. companies. Two main hypotheses are tested: (1) long-term (short-term) IO (LTIO) (STIO) are negatively (positively) related to stock price synchronicity, and (2) long-term (short-term) IO are negatively (positively) related stock price crash risk. Stock price synchronicity (SYNCH) measures how much firm-specific returns align with overall market returns, while crash risk (NCSKEW, DUVOL, COUNT) indicates the likelihood of a sudden, significant price drop. The theory posits that short-term investors, more prone to sell shares, provide weaker oversight, giving managers more freedom to influence cash flows and increasing synchronicity. In contrast, long-term investors establish stronger management relationships, reducing synchronicity through enhanced oversight. The findings reveal that both long-term and short-term IO positively impact synchronicity, contradicting the hypothesis for long-term IO. This aligns with literature suggesting institutional investors use superior information mainly for trading rather than management engagement. For crash risk, results support the agency theory: long-term IO is associated with reduced crash risk due to better monitoring, while short-term IO correlates with higher crash risk due to frequent trading and weaker oversight. These findings align with prior research, indicating that bad news is disclosed under long-term monitoring, causing abrupt price drops. During the 2008 financial crisis, average crash risk was significantly higher, especially for financial firms. The interaction between IO horizons and the crisis suggests complex dynamics needing further study, particularly the negative interaction of long-term and aggregated IO during recessions. Robustness checks, including firm fixed-effects regressions and variable changes, confirm primary findings but suggest cautious interpretation for long-term IO results. Limitations include a relatively short observation period (2000-2017), potential measurement biases in tax avoidance proxies (long-run cash effective tax rate (LRETR)), and unaddressed endogeneity concerns. Future research should explore evolving ownership structures, corporate social responsibility, and impacts of recent disruptions like the COVID-19 pandemic on crash risk.
The Impact Of Institutional Ownership And A Firm S Size On Firm Value
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Author : Vince Ratnawati
language : en
Publisher:
Release Date : 2018
The Impact Of Institutional Ownership And A Firm S Size On Firm Value written by Vince Ratnawati and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Objective - The objective of this study is to investigate how institutional ownership and firm size affect firm value. The study also investigates the moderating effect of tax avoidance on the relationship between institutional ownership and the size of a firm on its value.Methodology/Technique - A model was developed and tested using a sample of 66 manufacturing companies listed on the Indonesian Stock Exchange between 2012 and 2014.Findings - The data was collected and analysed using a least square regression and moderated regression analysis. The analysis shows that institutional ownership and firm size affect firm value. The results also indicate that tax avoidance moderates the effect of institutional ownership and that of a firm's size on its value.Type of Paper: Empirical.
Institutional Shareholders Investment Horizons And Tax Avoidance
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Author : Inder K. Khurana
language : en
Publisher:
Release Date : 2012
Institutional Shareholders Investment Horizons And Tax Avoidance written by Inder K. Khurana and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
We investigate whether the level of ownership by institutional shareholders with a long-term horizon is associated with firms' tax avoidance activities. In theory, tax avoidance increases firm value through tax savings; however, institutions with long-term investment horizons are likely to discourage tax avoidance activities if such activities encourage managerial opportunism and reduce transparency. Using a sample of firms with institutional ownership data from 1995-2008, we find less tax avoidance in firms held by long-term institutional shareholders. Probing further, we find these results are generally driven by poorly-governed firms. Overall, our results highlight the role of certain types of institutional shareholders in affecting a firm's tax avoidance behavior.
Earnings Management Corporate Governance And Tax Avoidance
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Author : Lulus Kurniasih
language : en
Publisher:
Release Date : 2018
Earnings Management Corporate Governance And Tax Avoidance written by Lulus Kurniasih and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Objective - This study aims to determine the effect of earning management and corporate governance mechanisms on corporate tax avoidance.Methodology/Technique - Corporate governance mechanisms use institutional ownership, the size of the board of commissioners, the percentage of independent commissioners, auditing committees, and audit quality as proxies. Meanwhile, earnings management uses the modified Jones model. The sample of this study include non-financial companies that are listed on the Indonesian Stock Exchange (IDX) between 2014 and 2016.Findings - Corporate tax avoidance can be detected by using the effective tax rate (ETR), which is the ratio of income to tax expenses. This sample was chosen using a purposive sampling method, resulting in 871 firms. The results suggest that earnings management has a significant impact on ETR.Novelty - This study identifies that only independent commissioners and audit quality have a significant influence on ETR.