دانلود مقاله ISI انگلیسی شماره 51982
عنوان فارسی مقاله

برنامه ریزی مالیاتی، حاکمیت شرکتی و ارزش حقوق صاحبان سهام

کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
51982 2012 14 صفحه PDF سفارش دهید محاسبه نشده
خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.
عنوان انگلیسی
Tax planning, corporate governance and equity value
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : The British Accounting Review, Volume 44, Issue 2, June 2012, Pages 111–124

کلمات کلیدی
برنامه ریزی مالیاتی؛ فرار از مالیات؛ ارزش شرکت - حاکمیت شرکتی؛ هزینه های نمایندگی
پیش نمایش مقاله
پیش نمایش مقاله برنامه ریزی مالیاتی، حاکمیت شرکتی و ارزش حقوق صاحبان سهام

چکیده انگلیسی

Tax planning by firms is a highly significant activity. After audit fees, tax related services are the largest source of fee income for UK accounting firms. When viewed in terms of its impact, tax planning is the major source of the corporation tax gap amongst large firms (HMRC, 2010). Although traditionally tax planning has been viewed as benefiting shareholders via increased after tax earnings, more recently the underlying motivation has been questioned. Desai and Dharmapala (2006) argue that when an information asymmetry exists between managers and shareholders with respect to tax planning, it can facilitate managers acting in their own interests resulting in a negative association between tax planning and firm value. Using a sample of UK quoted firms from 2005 to 2007 and data drawn from International Accounting Standard 12 Income Taxes ( IASB, 2010) Effective Tax Rate (ETR) reconciliations, this paper reports such a negative relationship. Further, the relationship is robust to the inclusion of corporate governance measures which could be expected to moderate the potential implications of a tax related shareholder–manager information asymmetry. An innovation of this paper is in using the ETR reconciliations to examine sub-categories of tax planning activities. The paper contributes to the debate of who determines, and benefits from tax planning conducted by firms. Its findings have direct policy relevance for shareholders and tax administrations in monitoring and controlling firms’ tax planning activities.

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