The Effect Of Foreign Institutional Ownership On 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.
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.
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 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.
Tax And Corporate Governance
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Author : Wolfgang Schön
language : en
Publisher: Springer Science & Business Media
Release Date : 2008-03-12
Tax And Corporate Governance written by Wolfgang Schön and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-03-12 with Business & Economics categories.
Academic research shows that well-known principal-agent and capital market problems are strongly influenced by tax considerations. Against this background, this volume is the first to present a fully-fledged overview of the interdependence of tax and corporate governance. Not only the basic political, legal and economic questions but also major topics like income measurement, shareholding structures, corporate social responsibility and tax shelter disclosure are covered.
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.
The Effect Of Foreign Institutional Investors On Corporate Governance
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Author : Matteo Cecchi
language : en
Publisher:
Release Date : 2019
The Effect Of Foreign Institutional Investors On Corporate Governance written by Matteo Cecchi 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.
Compared to the astonishing growth of the Chinese economy in the last 40 years, the development of its capital markets has been lagging behind. Now that the economic system is transforming from an export-based and investment-driven model to a consumption-based and innovation-driven one, an efficient stock market has never been more relevant. To promote the development of the Shanghai Stock Exchange (SSE) and the Shenzhen Stock Exchange (SZSE), the China Securities Regulatory Commission (CSRC) has implemented a range of new policies in the last decade. One of these policies aims at increasing the presence of foreign institutional investors. The objective of this thesis is therefore to analyse if the new influx of foreign investors have performed a monitoring role and improved firm-level corporate governance structures. More specifically, we hypothesise that larger and long-term foreign institutional investments drive corporate governance improvements. We have collected an extensive foreign ownership database and used multiple metrics to measure firm-level corporate governance. Namely, we use a corporate governance index, a transparency disclosure rating, and individual corporate governance attributes. In order to alleviate endogeneity concerns, we performed a variety of empirical tests, such as analysing the effect of lagged, significant changes in foreign ownership on the level of corporate governance. We indeed found that foreign institutional investors have enhanced the development of corporate governance mechanisms in Chinese publicly listed firms. Therefore, our results indicate that further relaxations in foreign ownership restrictions will hasten the development of the Chinese capital markets.
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.
Foreign Ownership And Corporate Income Taxation
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Author : Harry Huizinga
language : en
Publisher:
Release Date : 2003
Foreign Ownership And Corporate Income Taxation written by Harry Huizinga and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Corporations, Foreign categories.
Recoge : 1. Introduction. - 2. Previous literature. - 3. The data. - 4. The estimation. - 5. Empirical results. - 6. Conclusions.
Corporate Governance Strengthening Latin American Corporate Governance The Role Of Institutional Investors
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2011-07-01
Corporate Governance Strengthening Latin American Corporate Governance The Role Of Institutional Investors written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-07-01 with categories.
This report reflects long-term, in-depth discussion and debate by participants in the Latin American Roundtable on Corporate Governance.