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Managerial Ability,Power and Corporate Tax Avoidance
Pages: 43-57
Year: Issue:  4
Journal: Finance & Trade Economics

Keyword:  Managerial AbilityManagerial PowerAggressive Tax AvoidanceCorporate Value;
Abstract: Corporate tax avoidance has been a common concern of academics and practitioners in recent years,but there are few literatures focusing on how management factors influence tax avoidance.Thus based on the samples of A-share listed companies from 2008 to 2013,the roles of managerial ability and power in the corporate tax avoidance policy,as well as the economic consequences,are explored in this paper.The empirical study shows that corporate value would be undermined by aggressive tax avoidance behaviors.Additionally,managerial ability and power respectively inhibit and promote aggressive tax avoidance;further analyses demonstrate that the managerial ability can mitigate the negative impact of aggressive tax avoidance upon corporate value,while the regulation effect of managerial power is far less positive comparatively,revealing a contrasting "bright side" and "dark side" of managerial ability and power in the course of corporate tax avoidance.The study may provide valuable experience and implications to those listed companies which aim to carry on the corporate governance reform by optimizing internal power allocation and enhancing the executives’ professional ability.
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