Navigating the Maze: A Systematic Review of Empirical Studies on Tax Avoidance and Its Influence Factors
Abstract
There is a wealth of research on the factors influencing tax avoidance, and it has gradually become a global topic of interest. However, few studies systematically identify which factors influence corporate tax avoidance and how they do so. Many studies on similar topics show significant differences in conclusions across countries. Therefore, a systematic review of the relevant literature on tax avoidance is necessary, as it will help us understand the current state of research and offer insights and directions for future exploration of the reasons behind these discrepancies and the discovery of new factors influencing tax avoidance.
This study analyzes 97 empirical studies on tax avoidance, aiming to clarify influencing factors by categorizing themes and summarizing findings. Literature was sourced via Scopus and divided into three sections: Factors influencing tax avoidance in Western countries, factors in China, and future research prospects. Tax avoidance is a complex issue vital to firms’ high-quality development. The study underscores that differing methodologies may lead to varying conclusions, systematizing the literature and drawing comparisons among various perspectives. By enhancing understanding of tax avoidance, the effort provides a foundation for future investigations into practical strategies for firms, contributing to a comprehensive understanding of tax avoidance and emphasizing the importance of a coordinated approach among stakeholders.
References
[1] Adams, R. B., and Ferreira, D. (2007). A theory of friendly boards. Journal of Finance, 62(1): 217-250. DOI: https://doi.org/10.1111/j.1540-6261.2007.01206.x
[2] Allam, A., Moussa, T., Abdelhady, M., and Yamen, A. (2023). National culture and tax evasion: The role of the institutional environment quality. Journal of International Accounting, Auditing and Taxation, 52, 100559. DOI: https://doi.org/10.1016/j.intaccaudtax.2023.100559
[3] Allen, A., Francis, B. B., Wu, Q., and Zhao, Y. J. (2016). Analyst coverage and corporate tax aggressiveness. Journal of Banking and Finance, 73: 84-98. DOI: https://doi.org/10.1016/j.jbankfin.2016.09.004
[4] Armstrong, C. S., Blouin, J. L., and Larcker, D. F. (2012). The incentives for tax planning. Journal of Accounting and Economics, 53(1-2): 391-411. DOI: https://doi.org/10.1016/j.jacceco.2011.04.001
[5] Armstrong, C. S., Blouin, J. L., Jagolinzer, A. D., and Larcker, D. F. (2015). Corporate governance, incentives, and tax avoidance. Journal of Accounting and Economics, 60(1): 1-17. DOI:https://doi.org/10.1016/j.jacceco.2015.02.003
[6] Athira, A., and Ramesh, V. K. (2024). Economic policy uncertainty and tax avoidance: International evidence. Emerging Markets Review, 60, Article 101135. DOI: https://doi.org/10.1016/j.ememar.2024.101135
[7] Badertscher, B. A., Katz, S. P., and Rego, S. (2010). The Impact of Private Equity Ownership on Portfolio Firms' Corporate Tax Planning. Harvard Business Review.
[8] Balakrishnan, T. J., and Linsmeier, M. (1996). Financial benefits from JIT adoption: Effects of customer concentration and cost structure. The Accounting Review, 71: 183-205.
[9] Bauer, A. M. (2016). Tax Avoidance and the Implications of Weak Internal Controls. Contemporary Accounting Research, 33(2): 449-486. DOI: https://doi.org/10.1111/1911-3846.12151
[10] Bill, F., Iftekhar, H., Qiang, W., and Meng, Y. (2014). Are Female CFOs Less Tax Aggressive? Evidence from Tax Aggressiveness. SSRN Electronic Journal. DOI: https://doi.org/10.2139/ssrn.2474543
[11] Blaylock, B., Gaertner, F. B., and Shevlin, T. (2017). Book-tax conformity and capital structure. Review of Accounting Studies, 22(2): 903-932. DOI: https://doi.org/10.1007/s11142-017-9386-2
[12] Blaylock, B., Shevlin, T., and Wilson, R. J. (2012). Tax Avoidance, Large Positive Temporary Book-Tax Differences, and Earnings Persistence. Accounting Review, 87(1). DOI: https://doi.org/10.2308/accr-10158
[13] Boynton, C., and Legel, D. F. (2005). Prelude to Schedule M-3: Schedule M-1 Corporate Book-Tax Difference Data 1990-2003. Tax Notes, 109(12).
[14] Brazel, J. F., and Dang, L. (2008). The Effect of ERP System Implementations on the Management of Earnings and Earnings Release Dates. Journal of Information Systems, 22(2): 1-21. DOI:https://doi.org/10.2308/jis.2008.22.2.1
[15] Brown, J. L., Drake, K. D., and Martin, M. A. (2013). Are Firms Myopic?: The Case of Contracting on Performance and Risk. SSRN Electronic Journal. DOI: https://doi.org/doi:10.2139/ssrn.1659439
[16] Bushee, B. J. (1998). The Influence of Institutional Investors on Myopic RandD Investment Behavior. The Accounting Review, 73(3): 305-333.
[17] Byrnes, J., Miller, D., and Schafer, W. (1999). Gender Differences in Risk Taking.
[18] Cai, H. B., and Liu, Q. (2009). Competition and Corporate Tax Avoidance: Evidence from Chinese Industrial Firms. Economic Journal, 119(537): 764-795. DOI: https://doi.org/10.1111/j.1468-0297.2009.02217.x
[19] Cen, L., Maydew, E. L., Zhang, L. D., and Zuo, L. (2017). Customer-supplier relationships and corporate tax avoidance. Journal of Financial Economics, 123(2): 377-394. DOI:https://doi.org/10.1016/j.jfineco.2016.09.009
[20] Chen, H., Yang, D., Zhang, X., and Zhou, N. (2019). The Moderating Role of Internal Control in Tax Avoidance: Evidence from a COSO-Based Internal Control Index in China. Journal of the American Taxation Association, 42(1). DOI:https://doi.org/10.2308/atax-52408
[21] Chen, K. P., and Chu, C. Y. C. (2005). Internal Control versus External Manipulation: A Model of Corporate Income Tax Evasion. Rand Journal of Economics, 36(1): 151-164.
[22] Chen, M. A., Zhao, K., and Jin, W. (2024). Corporate digital transformation and tax avoidance: evidence from China. Pacific-Basin Finance Journal, 85. DOI: https://doi.org/10.1016/j.pacfin.2024.102400
[23] Chen, N. X., and Lehmer, T. (2021). Aggressive Tax Avoiders: US Multinationals Shifting Domestic Earnings to Zero. Accounting Review, 96(5): 181-206. DOI: https://doi.org/10.2308/tar-2018-0419
[24] Chen, S. P., Chen, X., Cheng, Q., and Shevlin, T. (2010). Are family firms more tax aggressive than non-family firms? Journal of Financial Economics, 95(1): 41-61. DOI: https://doi.org/10.1016/j.jfineco.2009.02.003
[25] Chen, T., and Lin, C. (2017). Does Information Asymmetry Affect Corporate Tax Aggressiveness? Journal of Financial and Quantitative Analysis, 52(5): 2053-2081. DOI: https://doi.org/10.1017/s0022109017000576
[26] Chen, Y. S., Meng, Q. Y., and Yuan, C. (2018). Relational tax incentives and the effectiveness of tax policy: An implicit tax perspective. Accounting Research, (02): 41-47. (in Chinese).
[27] Cheng, C. S. A., Huang, H. H., Li, Y. H., and Stanfield, J. (2012). The Effect of Hedge Fund Activism on Corporate Tax Avoidance. Accounting Review, 87(5): 1493-1526. DOI: https://doi.org/10.2308/accr-50195
[28] Chircop, J., Fabrizi, M., Malaspina, P., and Parbonetti, A. (2023). Anti-Mafia Police Actions, Criminal Firms, and Peer Firm Tax Avoidance. Journal of Accounting Research, 61(1): 243-277. DOI:https://doi.org/10.1111/1475-679x.12455
[29] Chung, R., Firth, M., and Kim, J. B. (2002). Institutional monitoring and opportunistic earnings management. Journal of Corporate Finance, 8(1): 29-48. DOI: https://doi.org/10.1016/S0929-1199(01)00039-6
[30] Chyz, J. A., Gaertner, F. B., Kausar, A., and Watson, L. (2019). Overconfidence and Corporate Tax Policy. Review of Accounting Studies, 24(3), 1114-1145. DOI: https://doi.org/10.1007/s11142-019-09494-z
[31] Chyz, J. A., Leung, W. S. C., Li, O. Z., and Rui, O. M. (2013). Labor unions and tax aggressiveness. Journal of Financial Economics, 108(3): 675-698. DOI: https://doi.org/10.1016/j.jfineco.2013.01.012
[32] Custódio, C., and Metzger, D. (2014). Financial Expert CEOs: CEO's Work Experience and Firm's Financial Policies. Journal of Financial Economics, 114(1): 125-154. DOI: https://doi.org/10.1016/j.jfineco.2014.06.002
[33] Dai, B., Liu, Y., and Peng, C. (2017). Executive Gender, Power Configuration, and Corporate Tax Aggressive Behavior. Journal of Yunnan University of Finance and Economics, 33(03): 110-123. DOI:https://doi.org/10.16537/j.cnki.jynufe.000209 (in Chinese)
[34] Deangelo, L. E. 1981. Auditor size and audit quality. Journal of Accounting and Economics, 3(3): 183-199. DOI: https://doi.org/10.1016/0165-4101(81)90002-1
[35] Deng, B. F., Liu, J. W., and Ji, L. (2019). Do government subsidies affect corporate tax avoidance behavior? Financial and Economic Research, 45(01): 109-121. DOI: https://doi.org/10.16538/j.cnki.jfe.2019.01.007 (in Chinese).
[36] Desai, M. A., and Dharmapala, D. (2006). Corporate tax avoidance and high-powered incentives. Journal of Financial Economics, 79(1), 145-179. DOI: https://doi.org/10.1016/j.jfineco.2005.02.002
[37] Desai, M. A., Dyck, A., and Zingales, L. (2007). Theft and taxes. Journal of Financial Economics, 84(3), 591-623. DOI: https://doi.org/10.1016/j.jfineco.2006.05.005
[38] Dhaliwal, D., Trezevant, R., and Wang, S. (1992). Taxes, investment-related tax shields and capital structure. Journal of the American Taxation Association, 14(1), 1-21.
[39] Ding, F. F., Liu, M., and Qiao, Z. W. (2019). The Impact of Firm Size, Institutional Environment, and Corporate Tax Aggressiveness. Auditing and Economic Research, 34(01), 14-23. Available at: https://link.cnki.net/urlid/32.1317.F.20190114.0856.008
[40] Dunbar, A., Higgins, D. M., Phillips, J. D., and Plesko, G. (2010). What Do Measures of Tax Aggressiveness Measure? Proceedings of the Annual Conference on Taxation, 18-26.
[41] Dyreng, S. D., and Markle, K. S. (2016). The Effect of Financial Constraints on Income Shifting by US Multinationals. Accounting Review, 91(6), 1601-1627. DOI: https://doi.org/10.2308/accr-51420
[42] Dyreng, S. D., Hanlon, M., and Maydew, E. L. (2010). The Effects of Executives on Corporate Tax Avoidance. Accounting Review, 85(4), 1163-1189. DOI: https://doi.org/10.2308/accr.2010.85.4.1163
[43] Faccio, M., Marchica, M. T., and Mura, R. (2016). CEO gender, corporate risk-taking, and the efficiency of capital allocation. Journal of Corporate Finance, 39, 193-209. DOI:https://doi.org/10.1016/j.jcorpfin.2016.02.008
[44] Falagas, M. E., Pitsouni, E. I., Malietzis, G. A., and Pappas, G. (2008). Comparison of PubMed, Scopus, Web of Science, and Google Scholar: strengths and weaknesses. The FASEB Journal, 22(2). DOI:https://doi.org/10.1096/fj.07-9492LSF
[45] Faleye, O., Mehrotra, V., and Morck, R. (2006). When Labor Has a Voice in Corporate Governance. Journal of Financial and Quantitative Analysis, 41(03), 489. DOI:https://doi.org/10.1017/s0022109000002519
[46] Fama, E. F., and Jensen, M. C. (1983). Separation of Ownership and Control. Journal of Law and Economics, 26(2), 301-325. DOI: https://doi.org/10.1086/467037
[47] Fan, Z. Y., and Tian, B. B. (2016). Tax competition, tax enforcement, and corporate tax avoidance. Economic Research, 15(04), 1303-1328. DOI: https://doi.org/10.13821/j.cnki.ceq.2016.03.02 (in Chinese).
[48] Feng, Z. Y., Wang, Y. C., and Wang, W. G. (2024). Corporate carbon reduction and tax avoidance: International evidence. Journal of Contemporary Accounting and Economics, 20(2). DOI:https://doi.org/10.1016/j.jcae.2024.100416
[49] Finkelstein, S., and Mooney, A. C. (2003). Not the Usual Suspects: How to Use Board Process to Make Boards Better. Academy of Management Executive, 17(2), 101-113. DOI:https://doi.org/10.5465/AME.2003.10025204
[50] Francis, B. B., Hasan, I., Sun, X., and Wu, Q. (2016). CEO political preference and corporate tax sheltering. Journal of Corporate Finance, 38, 37-53. DOI: https://doi.org/10.1016/j.jcorpfin.2016.03.003
[51] Francis, B., Hasan, I., Wu, Q., and Yan, M. (2014). Are Female CFOs Less Tax Aggressive? Evidence from Tax Aggressiveness. Research Discussion Papers. DOI: https://doi.org/10.2139/SSRN.2428541
[52] Frank, M. M., Lynch, L. J., and Rego, S. O. (2009). Tax Reporting Aggressiveness and Its Relation to Aggressive Financial Reporting. Accounting Review, 84(2), 467-496. DOI:https://doi.org/10.2308/accr.2009.84.2.467
[53] Gallemore, J., and Labro, E. (2015). The importance of the internal information environment for tax avoidance. Journal of Accounting and Economics, 60(1), 149-167. DOI:https://doi.org/10.1016/j.jacceco.2014.09.005
[54] Gao, M., Gu, Q. K., He, S. J., and Kong, D. M. (2023). Legal environment and corporate tax avoidance: A geographic discontinuity design based on the Great Wall in China. Finance Research Letters, 53, Article 103663. DOI: https://doi.org/10.1016/j.frl.2023.103663
[55] Guo, X. F., Wei, T., Wang, A. P., and Hu, H. F. (2024). Corporate governance effects of digital finance: Evidence from corporate tax avoidance in China. Research in International Business and Finance, 72. DOI:https://doi.org/10.1016/j.ribaf.2024.102526
[56] Gupta, S., and Newberry, K. (1997). Determinants of the variability in corporate effective tax rates: Evidence from longitudinal data. Journal of Accounting and Public Policy, 16(1), 0-34. DOI:https://doi.org/10.1016/s0278-4254(96)00055-5
[57] Hambrick, D. C. (2007). Upper echelons theory: An update. Academy of Management Review, 32(2), 334-343. DOI:https://doi.org/10.5465/amr.2007.24345254
[58] Hambrick, D. C., and Mason, P. A. (1984). Upper Echelons: The Organization as a Reflection of Its Top Managers. Academy of Management Review, 9(2), 193-206. DOI: https://doi.org/10.5465/amr.1984.4277628
[59] Han, Q. L., and Liu, L. (2017). Political Connections and Tax Policy's Impact on Corporate RandD Investment: Empirical Evidence from Private Listed Companies on China's Growth Enterprise Market. Journal of Central South University (Social Sciences), 23(04), 110-118.
[60] Hanlon, M., and Heitzman, S. (2010). A review of tax research. Journal of Accounting and Economics, 50(2-3), 127-178. DOI: https://doi.org/10.1016/j.jacceco.2010.09.002
[61] Hanlon, M., Laplante, S. K., and Shevlin, T. (2005). Evidence for the possible information loss of conforming book income and taxable income. Journal of Law and Economics, 48(2), 407-442. DOI:https://doi.org/10.1086/497525
[62] Hanlon, M., Mills, L. F., and Slemrod, J. B. (2005). An Empirical Examination of Corporate Tax Noncompliance. SSRN Electronic Journal, 21(1), 171-225. DOI: https://doi.org/10.2139/ssrn.891226
[63] Harry, DeAngelo, Ronald, W., Masulis. (1980). Optimal capital structure under corporate and personal taxation. Journal of Financial Economics, 8(1), 3-29. DOI: https://doi.org/10.1016/0304-405X(80)90019-7
[64] Hertzel, M. G., Li, Z., Officer, M. S., and Rodgers, K. J. (2008). Inter-firm linkages and the wealth effects of financial distress along the supply chain. Journal of Financial Economics, 87(2), 374-387. DOI:https://doi.org/10.1016/j.jfineco.2007.01.005
[65] Hill, M. D., Kubick, T. R., Lockhart, G. B., and Wan, H. S. (2013). The effectiveness and valuation of political tax minimization. Journal of Banking and Finance, 37(8), 2836-2849. DOI:https://doi.org/10.1016/j.jbankfin.2013.04.002
[66] Hoang, T. T., Nguyen, C. V., and Phung, T. D. (2019). Do male CEOs really run firms better than female counterparts? New evidence from Vietnam. Hitotsubashi Journal of Economics, 60(2), 121-140. DOI:https://doi.org/10.15057/30786
[67] Hogan, B., and Noga, T. (2015). Auditor-provided tax services and long-term tax avoidance. Emerald Group Publishing Limited(3). DOI: https://doi.org/10.1108/raf-10-2013-0116
[68] Hoopes, J. L., Mescall, D., and Pittman, J. A. (2012). Do IRS Audits Deter Corporate Tax Avoidance? Accounting Review, 87(5), 1603-1639. DOI: https://doi.org/10.2308/accr-50187
[69] Hope, O. K., Ma, M., and Thomas, W. B. (2013). Tax avoidance and geographic earnings disclosure. Journal of Accounting and Economics, 56(2-3), 170-189. DOI: https://doi.org/10.1016/j.jacceco.2013.06.001
[70] Hossain, M., and Mitra, S. (2023). Does headquarters location matter in corporate tax avoidance? Journal of Financial Stability, 64. DOI: https://doi.org/10.1016/j.jfs.2023.101106
[71] Hsieh, T. S., Wang, Z. H., and Demirkan, S. (2018). Overconfidence and tax avoidance: The role of CEO and CFO interaction. Journal of Accounting and Public Policy, 37(3), 241-253. DOI:https://doi.org/10.1016/j.jaccpubpol.2018.04.004
[72] Huang, H. H., Lobo, G. J., Wang, C., and Xie, H. (2016). Customer concentration and corporate tax avoidance. Journal of Banking and Finance. DOI: https://doi.org/10.1016/j.jbankfin.2016.07.018
[73] Huang, Y., and Yan, C. (2020). Global accounting standards, financial statement comparability, and the cost of capital. International Review of Economics and Finance, 69, 301-318. DOI:https://doi.org/10.1016/j.iref.2020.05.019
[74] Huseynov, F., Sardarli, S., and Zhang, W. (2017). Does index addition affect corporate tax avoidance? Journal of Corporate Finance, 43, 241-259. DOI: https://doi.org/10.1016/j.jcorpfin.2017.01.008
[75] Jensen, M. C., and Meckling, W. H. (1976). Theory of the firm: Managerial behaviour, agency costs and ownership structure. 3(4), 0-360. DOI: https://doi.org/10.1016/0304-405x(76)90026-x
[76] Jiang, H. L., Hu, W. J., and Jiang, P. C. (2024). Does ESG performance affect corporate tax avoidance? Evidence from China. Finance Research Letters, 61, Article 105056. DOI:https://doi.org/10.1016/j.frl.2024.105056
[77] Kanagaretnam, K., Lee, J., Lim, C. Y., and Lobo, G. J. (2016). Relation between Auditor Quality and Tax Aggressiveness: Implications of Cross-Country Institutional Differences. Auditing-a Journal of Practice and Theory, 35(4), 105-135. DOI: https://doi.org/10.2308/ajpt-51417
[78] Klapper, L. F., and Parker, S. C. (2011). Gender and the Business Environment for New Firm Creation. World Bank Research Observer, 26(2), 237-257. DOI: https://doi.org/10.1093/wbro/lkp032
[79] Koester, A., Shevlin, T., and Wangerin, D. (2017). The Role of Managerial Ability in Corporate Tax Avoidance. Management Science, 63(10), 3285-3310. DOI: https://doi.org/10.1287/mnsc.2016.2510
[80] Kovermann, J., and Velte, P. (2019). The Impact of Corporate Governance on Corporate Tax Avoidance. A Literature Review. Journal of International Accounting Auditing and Taxation. DOI:https://doi.org/10.1016/j.intaccaudtax.2019.100270
[81] Kubick, T. R., Lynch, D. P., Mayberry, M. A., and Omer, T. C. (2016). The Effects of Regulatory Scrutiny on Tax Avoidance: An Examination of SEC Comment Letters. Accounting Review, 91(6), 1751-1780. DOI:https://doi.org/10.2308/accr-51433
[82] Lampenius, N., Shevlin, T., and Stenzel, A. (2021). Measuring Corporate Tax Rate and Tax Base Avoidance of U.S. Domestic and U.S. Multinational Firms. Journal of Accounting and Economics (2), 101406. DOI:https://doi.org/10.1016/j.jacceco.2021.101406
[83] Law, K. K. F., and Mills, L. F. (2017). Military experience and corporate tax avoidance. Review of Accounting Studies, 22(1), 141-184. DOI: https://doi.org/10.1007/s11142-016-9373-z
[84] Lei, G. Y., Qiu, B. Y., Yu, J. L., and Zuo, J. J. (2023). "Hitting the jackpot" in corporate tax strategy: A perspective on gambling preferences. Economic Modelling, 125, Article 106333. DOI:https://doi.org/10.1016/j.econmod.2023.106333
[85] Lennox, C. S., Lisowsky, P., and Pittman, J. A. (2012). Tax Aggressiveness and Accounting Fraud. Journal of Accounting Research, 51(4), 739-778. DOI: https://doi.org/10.2139/ssrn.2016166
[86] Li, C., Wu, Y. H., and Hu, W. J. (2016). Internal board linkage, tax avoidance, and corporate value. Accounting Research, 50-57+97. (in Chinese).
[87] Li, J. H. (2024). Do managers respond to tax avoidance incentives by investing in the tax function? Evidence from tax departments. Journal of Contemporary Accounting and Economics, 20(1), Article 100401. DOI:https://doi.org/10.1016/j.jcae.2024.100401
[88] Li, X. L., Fang, S. Y., and Zhang, L. (2016). CEO power, customer concentration, and corporate tax avoidance intensity. Modern Finance and Economics (Journal of Tianjin University of Finance and Economics), 36(9), 100-113. DOI: https://doi.org/10.19559/j.cnki.12-1387.2016.09.009 (in Chinese).
[89] Li, X. X., Lim, C. Y., and Xu, Y. P. (2023). The minimum wage and corporate tax avoidance. Accounting and Business Research, 53(4), 379-415. DOI: https://doi.org/10.1080/00014788.2022.2045893
[90] Lietz, G. M. (2013). Determinants and Consequences of Corporate Tax Avoidance. Social Science Electronic Publishing. DOI: https://doi.org/10.2139/ssrn.2363868
[91] Lin, K. Z., Mills, L. F., Zhang, F., and Li, Y. B. (2018). Do Political Connections Weaken Tax Enforcement Effectiveness? Contemporary Accounting Research, 35(4), 1941-1972. DOI: https://doi.org/10.1111/1911-3846.12360
[92] Liu, H., Liu, J., and Zhang, T. M. (2010). Management equity incentive and the relationship between corporate tax avoidance. Foreign Taxation (12), 37-40. DOI: https://doi.org/10.19376/j.cnki.cn10-1142/f.2010.12.008
[93] Liu, X. H., and Lv, S. S. (2015). The impact of manager characteristics on the tax avoidance behavior of listed companies. Journal of Beijing Technology and Business University(04), 49-57. DOI:https://doi.org/10.16299/j.1009-6116.2015.04.007
[94] Liu, X. X., and Guo, S. Y. (2019). Media negative reporting, internal information environment and corporate tax avoidance. Securities Market Herald (03), 49-58.
[95] Liu, Z., Chen, Z., Wu, H., Huang, Z., and Zhang, Y. (2019). Base erosion and profit shifting of Chinese firms: Chinese experience under the reconfiguration of the international tax governance system. Economic Research Journal, 54(2), 21-35.
[96] Long, W. B., Wu, H. Y., Li, L. D., Ying, S. X., and Li, S. H. (2024). Mixed-ownership structure, non-state-blockholder coalition, and tax avoidance. International Review of Financial Analysis, 91, Article 102988. DOI:https://doi.org/10.1016/j.irfa.2023.102988
[97] Lv, W. (2010). Analyst tracking, property rights arrangements, and corporate tax avoidance behavior: Empirical evidence from the implementation of the new enterprise income tax law. Journal of Shanxi University of Finance and Economics, 32(11), 60-66. DOI: https://doi.org/10.13781/j.cnki.1007-9556.2010.11.003 (in Chinese).
[98] Markle, K. S., and Shackelford, D. A. (2012). Cross-country comparisons of corporate income taxes. National Tax Journal, 65(3), 493-527. DOI: https://doi.org/10.17310/ntj.2012.3.01
[99] McClure, R., Lanis, R., Wells, P., and Govendir, B. (2018). The impact of dividend imputation on corporate tax avoidance: The case of shareholder value. Journal of Corporate Finance, 48, 492-514. DOI:https://doi.org/10.1016/j.jcorpfin.2017.10.007
[100] McGee, R. W. (2012). Gender and the Ethics of Tax Evasion: An Empirical Study of 82 Countries. Social Science Electronic Publishing. DOI: https://doi.org/10.1007/978-1-4614-1287-8_26
[101] McGee, R. W., and Cohn, G. M. (2008). Jewish Perspectives on the Ethics of Tax Evasion. Journal of Legal, Ethical and Regulatory Issues, 11.
[102] McGuire, S. T., Omer, T. C., and Wang, D. C. (2012). Tax Avoidance: Does Tax-Specific Industry Expertise Make a Difference? Accounting Review, 87(3), 975-1003. DOI: https://doi.org/10.2308/accr-10215
[103] McGuire, S. T., Wang, D. C., and Wilson, R. J. (2014). Dual Class Ownership and Tax Avoidance. Accounting Review, 89(4), 1487-1516. DOI: https://doi.org/10.2308/accr-50718
[104] Mills, L. F., and Newberry, K. J. (2001). The Influence of Tax and Nontax Costs on Book‐Tax Reporting Differences: Public and Private Firms. SSRN Electronic Journal. DOI: https://doi.org/10.2139/ssrn.228340
[105] Mills, L., Erickson, M., and Maydew, E. (1998). Investments in Tax Planning. Journal of the American Taxation Association, 20(1): 1-20.
[106] Modigliani, F. (1963). Corporate Income Taxes and the Cost of Capital: A Correction. American Economic Review. DOI: https://doi.org/10.2307/1809167
[107] Mongeon, P., and Paul-Hus, A. (2016). The Journal Coverage of Web of Science and Scopus: A Comparative Analysis. Scientometrics, 106. DOI: https://doi.org/10.1007/s11192-015-1765-5
[108] Nerudova, D., Dobranschi, M., Solilov, V., and Litzman, M. (2023). Onshore and offshore profit shifting and tax revenue losses in the European Union. Economic Modelling, 119, Article 106111. DOI:https://doi.org/10.1016/j.econmod.2022.106111
[109] Phillips, J. D., and John, D. (2003). Corporate Tax-Planning Effectiveness: The Role of Compensation-Based Incentives. Accounting Review, 78(3), 847-874. DOI: https://doi.org/10.2308/accr.2003.78.3.847
[110] Powers, K., Robinson, J. R., and Stomberg, B. (2016). How do CEO incentives affect corporate tax planning and financial reporting of income taxes? Review of Accounting Studies, 21(2), 672-710. DOI:https://doi.org/10.1007/s11142-016-9350-6
[111] Rego, S. O. (2003). Tax-avoidance activities of US multinational corporations. Contemporary Accounting Research, 20(4), 805-833. DOI: https://doi.org/10.1506/vann-b7ub-gmfa-9e6w
[112] Rego, S. O., and Wilson, R. (2012). Equity Risk Incentives and Corporate Tax Aggressiveness. Journal of Accounting Research, 50(3), 775-810. DOI: https://doi.org/10.1111/j.1475-679X.2012.00438.x
[113] Richardson, G., and Lanis, R. (2007). Determinants of the variability in corporate effective tax rates and tax reform: Evidence from Australia. Journal of Accounting and Public Policy, 26(6), 689-704. DOI:https://doi.org/10.1016/j.jaccpubpol.2007.10.003
[114] Richardson, G., Lanis, R., and Taylor, G. L. (2015). Financial distress, outside directors and corporate tax aggressiveness spanning the global financial crisis: An empirical analysis. Journal of Banking and Finance, 52, 112-129. DOI: https://doi.org/10.1016/j.jbankfin.2014.11.013
[115] Robinson, J. R., Sikes, S. A., and Weaver, C. D. (2010). Performance Measurement of Corporate Tax Departments. Accounting Review, 85(3), 1035-1064. DOI: https://doi.org/10.2308/accr.2010.85.3.1035
[116] Siegfried, J. (1974). Effective Average US Corporation Income Tax Rates. National Tax Journal, 27(2), 245-259. Available at: http://www.jstor.org/stable/41861946
[117] Slemrod, J. (2004). The economics of corporate tax selfishness. National Tax Journal, 57(4), 877-899. DOI:https://doi.org/10.17310/ntj.2004.4.06
[118] Slemrod, J., Scholes, M. S., and Wolfson, M. A. (2002). Taxes and Business Strategy. Journal of Finance, 47(4), 1648. DOI: https://doi.org/10.2307/2328961
[119] Stickney, C. P., and McGee, V. E. (1982). Effective corporate tax rates: The effect of size, capital intensity, leverage, and other factors. Journal of Accounting and Public Policy, 1(2), 125-152. DOI:https://doi.org/10.1016/S0278-4254(82)80004-5
[120] Swamy, A. V., Knack, S., Lee, Y., and Azfar, O. (2000). Gender and Corruption. SSRN Electronic Journal. DOI:https://doi.org/10.6018/analesps.32.3.229171
[121] Tan, X., and Du, X. Q. (2015). Internationalized boards, auditor industry expertise, and tax avoidance. Journal of Shanxi University of Finance and Economics, 37(11), 113-124. DOI:https://doi.org/10.13781/j.cnki.1007-9556.2015.11.010 (in Chinese).
[122] Tucker, G. A. L. (2006). Tax shelters and corporate debt policy. Journal of Financial Economics. DOI:https://doi.org/10.1016/j.jfineco.2005.09.002
[123] Wang, D. Q., and Yang, H. Q. (2019). The effect of CEO overconfidence on the tendency of corporate tax avoidance behavior—with competitive strategy as a mediating variable. Journal of Hunan Agricultural University (Social Science Edition), 20(02), 55-61. DOI: https://doi.org/10.13331/j.cnki.jhau(ss).2019.02.008 (in Chinese).
[124] Wang, J. (2012). Do firms' relationships with principal customers/suppliers affect shareholders' income? Journal of Corporate Finance, 18(4), 860-878. DOI: https://doi.org/10.1016/j.jcorpfin.2012.06.007
[125] Wang, P., and Guo, K. (2019). A study on the impact of tax avoidance on the capital structure of listed companies. Finance and Trade Research, 30(05), 99-110. DOI: https://doi.org/10.19337/j.cnki.34-1093/f.2019.05.010 (in Chinese).
[126] Wang, P., Su, L. Z., and Ding, D. (2019). A study on the impact of tax avoidance of listed companies on the level and value of cash holdings. Journal of Beijing University of Technology and Business (Social Science Edition), 34(02), 63-76. (in Chinese).
[127] Wang, W., Wang, H., and Wu, J. (2021). Mixed ownership reform and corporate tax avoidance: Evidence of Chinese listed firms. Pacific-Basin Finance Journal, 69, Article 101648. DOI:https://doi.org/10.1016/j.pacfin.2021.101648
[128] Wang, Y. T., Wang, L. L., and Gong, C. P. (2009). Income Tax Reform, Earnings Management, and Its Economic Consequences. Economic Research Journal, 44(03), 86-98.
[129] Wang, Y. T., Wang, L. L., and Peng, Y. (2010). Property Rights Nature, Debt Tax Shield, and Capital Structure. Economic Research Journal, 45(09), 122-136.(in Chinese).
[130] Watts, R. L., and Zimmerman, J. L. (1986). A Positive Accounting Theory. Accounting Review, 65.
[131] Wen, W., Zhang, X. L., and Song, J. B. (2019). Can Scholarly CEOs Curb Corporate Tax Avoidance? Journal of Shanxi University of Finance and Economics, 41(06), 110-124. DOI:https://doi.org/10.13781/j.cnki.1007-9556.2019.06.009 (in Chinese).
[132] Wilson, Ryan J., An Examination of Corporate Tax Shelter Participants (2009). Accounting Review, Vol. 84, No. Available at SSRN: https://ssrn.com/abstract=2411015
[133] Wongsinhirun, N., Chatjuthamard, P., Chintrakarn, P., and Jiraporn, P. (2024). Tax avoidance, managerial ownership, and agency conflicts. Finance Research Letters, 61, Article 104937. DOI:https://doi.org/10.1016/j.frl.2023.104937
[134] Wu, L. S. (2009). State Ownership, Tax Incentives, and Corporate Tax Burden. Economic Research, 44(10), 109-120. (in Chinese).
[135] Wu, W. F., Wu, C. F., and Rui, M. (2009). Government background and tax benefits of executives in Chinese listed companies. Managers World, 2009(03), 134-142. DOI: https://doi.org/10.19744/j.cnki.11-1235/f.2009.03.015 (in Chinese).
[136] Wu, Z. G., Wan, D. F., and Wu, W. H. (2013). The impact of taxation on corporate RandD investment: crowding out effect and tax avoidance incentives - empirical evidence from Chinese GEM listed companies. Research and Development Managers, 25(05), 1-11. DOI: https://doi.org/10.13581/j.cnki.rdm.2013.05.001 (in Chinese).
[137] Xie, S. W., and Tian, L. (2014). CEO power, audit industry expertise, and tax radicalism. Audit and Economic Research, 29(05), 31-39. (in Chinese).
[138] Yan, C., Wang, J., Wang, Z., and Chan, K. (2023). Is reverence for life reverence for rule? Awe culture and corporate tax avoidance in China. International Review of Financial Analysis, 90, Article 102855. DOI:https://doi.org/10.1016/j.irfa.2023.102855
[139] Yan, H. M., and Liao, J. (2018). CEO-CFO alum relationship and corporate tax avoidance behavior—a study based on the perspective of tax administration intensity. Modern Finance and Economics (Journal of Tianjin University of Finance and Economics), 38(09), 77-91. DOI: https://doi.org/10.19559/j.cnki.12-1387.2018.09.006 (in Chinese).
[140] Yong, H., and Chao, Y. (2019). Global Accounting Standards, Financial Statement Comparability, and the Cost of Capital. SSRN Electronic Journal. DOI: https://doi.org/10.2139/ssrn.3500694
[141] Zhai, S. P., Fan, R., and Miao, Q. (2023). Reverse mixed reform and tax avoidance of private enterprises. Foreign Economics and Managers, 45(08), 34-50. DOI:https://doi.org/10.16538/j.cnki.fem.20220905.204 (in Chinese).
[142] Zhang, M., Liu, Y. S., Wang, X., and He, X. (2018). Enterprises and tax offices as neighbors: facilitating tax avoidance or tax collection? Managers World, 34(05), 150-164. DOI: https://doi.org/10.19744/j.cnki.11-1235/f.2018.05.012 (in Chinese).
[143] Zhu, J., Ho, K., Luo, S., and Peng, L. (2023). Pandemic and tax avoidance: Cross-country evidence. Economic Modelling, 124, Article 106300. DOI: https://doi.org/10.1016/j.econmod.2023.106300
[2] Allam, A., Moussa, T., Abdelhady, M., and Yamen, A. (2023). National culture and tax evasion: The role of the institutional environment quality. Journal of International Accounting, Auditing and Taxation, 52, 100559. DOI: https://doi.org/10.1016/j.intaccaudtax.2023.100559
[3] Allen, A., Francis, B. B., Wu, Q., and Zhao, Y. J. (2016). Analyst coverage and corporate tax aggressiveness. Journal of Banking and Finance, 73: 84-98. DOI: https://doi.org/10.1016/j.jbankfin.2016.09.004
[4] Armstrong, C. S., Blouin, J. L., and Larcker, D. F. (2012). The incentives for tax planning. Journal of Accounting and Economics, 53(1-2): 391-411. DOI: https://doi.org/10.1016/j.jacceco.2011.04.001
[5] Armstrong, C. S., Blouin, J. L., Jagolinzer, A. D., and Larcker, D. F. (2015). Corporate governance, incentives, and tax avoidance. Journal of Accounting and Economics, 60(1): 1-17. DOI:https://doi.org/10.1016/j.jacceco.2015.02.003
[6] Athira, A., and Ramesh, V. K. (2024). Economic policy uncertainty and tax avoidance: International evidence. Emerging Markets Review, 60, Article 101135. DOI: https://doi.org/10.1016/j.ememar.2024.101135
[7] Badertscher, B. A., Katz, S. P., and Rego, S. (2010). The Impact of Private Equity Ownership on Portfolio Firms' Corporate Tax Planning. Harvard Business Review.
[8] Balakrishnan, T. J., and Linsmeier, M. (1996). Financial benefits from JIT adoption: Effects of customer concentration and cost structure. The Accounting Review, 71: 183-205.
[9] Bauer, A. M. (2016). Tax Avoidance and the Implications of Weak Internal Controls. Contemporary Accounting Research, 33(2): 449-486. DOI: https://doi.org/10.1111/1911-3846.12151
[10] Bill, F., Iftekhar, H., Qiang, W., and Meng, Y. (2014). Are Female CFOs Less Tax Aggressive? Evidence from Tax Aggressiveness. SSRN Electronic Journal. DOI: https://doi.org/10.2139/ssrn.2474543
[11] Blaylock, B., Gaertner, F. B., and Shevlin, T. (2017). Book-tax conformity and capital structure. Review of Accounting Studies, 22(2): 903-932. DOI: https://doi.org/10.1007/s11142-017-9386-2
[12] Blaylock, B., Shevlin, T., and Wilson, R. J. (2012). Tax Avoidance, Large Positive Temporary Book-Tax Differences, and Earnings Persistence. Accounting Review, 87(1). DOI: https://doi.org/10.2308/accr-10158
[13] Boynton, C., and Legel, D. F. (2005). Prelude to Schedule M-3: Schedule M-1 Corporate Book-Tax Difference Data 1990-2003. Tax Notes, 109(12).
[14] Brazel, J. F., and Dang, L. (2008). The Effect of ERP System Implementations on the Management of Earnings and Earnings Release Dates. Journal of Information Systems, 22(2): 1-21. DOI:https://doi.org/10.2308/jis.2008.22.2.1
[15] Brown, J. L., Drake, K. D., and Martin, M. A. (2013). Are Firms Myopic?: The Case of Contracting on Performance and Risk. SSRN Electronic Journal. DOI: https://doi.org/doi:10.2139/ssrn.1659439
[16] Bushee, B. J. (1998). The Influence of Institutional Investors on Myopic RandD Investment Behavior. The Accounting Review, 73(3): 305-333.
[17] Byrnes, J., Miller, D., and Schafer, W. (1999). Gender Differences in Risk Taking.
[18] Cai, H. B., and Liu, Q. (2009). Competition and Corporate Tax Avoidance: Evidence from Chinese Industrial Firms. Economic Journal, 119(537): 764-795. DOI: https://doi.org/10.1111/j.1468-0297.2009.02217.x
[19] Cen, L., Maydew, E. L., Zhang, L. D., and Zuo, L. (2017). Customer-supplier relationships and corporate tax avoidance. Journal of Financial Economics, 123(2): 377-394. DOI:https://doi.org/10.1016/j.jfineco.2016.09.009
[20] Chen, H., Yang, D., Zhang, X., and Zhou, N. (2019). The Moderating Role of Internal Control in Tax Avoidance: Evidence from a COSO-Based Internal Control Index in China. Journal of the American Taxation Association, 42(1). DOI:https://doi.org/10.2308/atax-52408
[21] Chen, K. P., and Chu, C. Y. C. (2005). Internal Control versus External Manipulation: A Model of Corporate Income Tax Evasion. Rand Journal of Economics, 36(1): 151-164.
[22] Chen, M. A., Zhao, K., and Jin, W. (2024). Corporate digital transformation and tax avoidance: evidence from China. Pacific-Basin Finance Journal, 85. DOI: https://doi.org/10.1016/j.pacfin.2024.102400
[23] Chen, N. X., and Lehmer, T. (2021). Aggressive Tax Avoiders: US Multinationals Shifting Domestic Earnings to Zero. Accounting Review, 96(5): 181-206. DOI: https://doi.org/10.2308/tar-2018-0419
[24] Chen, S. P., Chen, X., Cheng, Q., and Shevlin, T. (2010). Are family firms more tax aggressive than non-family firms? Journal of Financial Economics, 95(1): 41-61. DOI: https://doi.org/10.1016/j.jfineco.2009.02.003
[25] Chen, T., and Lin, C. (2017). Does Information Asymmetry Affect Corporate Tax Aggressiveness? Journal of Financial and Quantitative Analysis, 52(5): 2053-2081. DOI: https://doi.org/10.1017/s0022109017000576
[26] Chen, Y. S., Meng, Q. Y., and Yuan, C. (2018). Relational tax incentives and the effectiveness of tax policy: An implicit tax perspective. Accounting Research, (02): 41-47. (in Chinese).
[27] Cheng, C. S. A., Huang, H. H., Li, Y. H., and Stanfield, J. (2012). The Effect of Hedge Fund Activism on Corporate Tax Avoidance. Accounting Review, 87(5): 1493-1526. DOI: https://doi.org/10.2308/accr-50195
[28] Chircop, J., Fabrizi, M., Malaspina, P., and Parbonetti, A. (2023). Anti-Mafia Police Actions, Criminal Firms, and Peer Firm Tax Avoidance. Journal of Accounting Research, 61(1): 243-277. DOI:https://doi.org/10.1111/1475-679x.12455
[29] Chung, R., Firth, M., and Kim, J. B. (2002). Institutional monitoring and opportunistic earnings management. Journal of Corporate Finance, 8(1): 29-48. DOI: https://doi.org/10.1016/S0929-1199(01)00039-6
[30] Chyz, J. A., Gaertner, F. B., Kausar, A., and Watson, L. (2019). Overconfidence and Corporate Tax Policy. Review of Accounting Studies, 24(3), 1114-1145. DOI: https://doi.org/10.1007/s11142-019-09494-z
[31] Chyz, J. A., Leung, W. S. C., Li, O. Z., and Rui, O. M. (2013). Labor unions and tax aggressiveness. Journal of Financial Economics, 108(3): 675-698. DOI: https://doi.org/10.1016/j.jfineco.2013.01.012
[32] Custódio, C., and Metzger, D. (2014). Financial Expert CEOs: CEO's Work Experience and Firm's Financial Policies. Journal of Financial Economics, 114(1): 125-154. DOI: https://doi.org/10.1016/j.jfineco.2014.06.002
[33] Dai, B., Liu, Y., and Peng, C. (2017). Executive Gender, Power Configuration, and Corporate Tax Aggressive Behavior. Journal of Yunnan University of Finance and Economics, 33(03): 110-123. DOI:https://doi.org/10.16537/j.cnki.jynufe.000209 (in Chinese)
[34] Deangelo, L. E. 1981. Auditor size and audit quality. Journal of Accounting and Economics, 3(3): 183-199. DOI: https://doi.org/10.1016/0165-4101(81)90002-1
[35] Deng, B. F., Liu, J. W., and Ji, L. (2019). Do government subsidies affect corporate tax avoidance behavior? Financial and Economic Research, 45(01): 109-121. DOI: https://doi.org/10.16538/j.cnki.jfe.2019.01.007 (in Chinese).
[36] Desai, M. A., and Dharmapala, D. (2006). Corporate tax avoidance and high-powered incentives. Journal of Financial Economics, 79(1), 145-179. DOI: https://doi.org/10.1016/j.jfineco.2005.02.002
[37] Desai, M. A., Dyck, A., and Zingales, L. (2007). Theft and taxes. Journal of Financial Economics, 84(3), 591-623. DOI: https://doi.org/10.1016/j.jfineco.2006.05.005
[38] Dhaliwal, D., Trezevant, R., and Wang, S. (1992). Taxes, investment-related tax shields and capital structure. Journal of the American Taxation Association, 14(1), 1-21.
[39] Ding, F. F., Liu, M., and Qiao, Z. W. (2019). The Impact of Firm Size, Institutional Environment, and Corporate Tax Aggressiveness. Auditing and Economic Research, 34(01), 14-23. Available at: https://link.cnki.net/urlid/32.1317.F.20190114.0856.008
[40] Dunbar, A., Higgins, D. M., Phillips, J. D., and Plesko, G. (2010). What Do Measures of Tax Aggressiveness Measure? Proceedings of the Annual Conference on Taxation, 18-26.
[41] Dyreng, S. D., and Markle, K. S. (2016). The Effect of Financial Constraints on Income Shifting by US Multinationals. Accounting Review, 91(6), 1601-1627. DOI: https://doi.org/10.2308/accr-51420
[42] Dyreng, S. D., Hanlon, M., and Maydew, E. L. (2010). The Effects of Executives on Corporate Tax Avoidance. Accounting Review, 85(4), 1163-1189. DOI: https://doi.org/10.2308/accr.2010.85.4.1163
[43] Faccio, M., Marchica, M. T., and Mura, R. (2016). CEO gender, corporate risk-taking, and the efficiency of capital allocation. Journal of Corporate Finance, 39, 193-209. DOI:https://doi.org/10.1016/j.jcorpfin.2016.02.008
[44] Falagas, M. E., Pitsouni, E. I., Malietzis, G. A., and Pappas, G. (2008). Comparison of PubMed, Scopus, Web of Science, and Google Scholar: strengths and weaknesses. The FASEB Journal, 22(2). DOI:https://doi.org/10.1096/fj.07-9492LSF
[45] Faleye, O., Mehrotra, V., and Morck, R. (2006). When Labor Has a Voice in Corporate Governance. Journal of Financial and Quantitative Analysis, 41(03), 489. DOI:https://doi.org/10.1017/s0022109000002519
[46] Fama, E. F., and Jensen, M. C. (1983). Separation of Ownership and Control. Journal of Law and Economics, 26(2), 301-325. DOI: https://doi.org/10.1086/467037
[47] Fan, Z. Y., and Tian, B. B. (2016). Tax competition, tax enforcement, and corporate tax avoidance. Economic Research, 15(04), 1303-1328. DOI: https://doi.org/10.13821/j.cnki.ceq.2016.03.02 (in Chinese).
[48] Feng, Z. Y., Wang, Y. C., and Wang, W. G. (2024). Corporate carbon reduction and tax avoidance: International evidence. Journal of Contemporary Accounting and Economics, 20(2). DOI:https://doi.org/10.1016/j.jcae.2024.100416
[49] Finkelstein, S., and Mooney, A. C. (2003). Not the Usual Suspects: How to Use Board Process to Make Boards Better. Academy of Management Executive, 17(2), 101-113. DOI:https://doi.org/10.5465/AME.2003.10025204
[50] Francis, B. B., Hasan, I., Sun, X., and Wu, Q. (2016). CEO political preference and corporate tax sheltering. Journal of Corporate Finance, 38, 37-53. DOI: https://doi.org/10.1016/j.jcorpfin.2016.03.003
[51] Francis, B., Hasan, I., Wu, Q., and Yan, M. (2014). Are Female CFOs Less Tax Aggressive? Evidence from Tax Aggressiveness. Research Discussion Papers. DOI: https://doi.org/10.2139/SSRN.2428541
[52] Frank, M. M., Lynch, L. J., and Rego, S. O. (2009). Tax Reporting Aggressiveness and Its Relation to Aggressive Financial Reporting. Accounting Review, 84(2), 467-496. DOI:https://doi.org/10.2308/accr.2009.84.2.467
[53] Gallemore, J., and Labro, E. (2015). The importance of the internal information environment for tax avoidance. Journal of Accounting and Economics, 60(1), 149-167. DOI:https://doi.org/10.1016/j.jacceco.2014.09.005
[54] Gao, M., Gu, Q. K., He, S. J., and Kong, D. M. (2023). Legal environment and corporate tax avoidance: A geographic discontinuity design based on the Great Wall in China. Finance Research Letters, 53, Article 103663. DOI: https://doi.org/10.1016/j.frl.2023.103663
[55] Guo, X. F., Wei, T., Wang, A. P., and Hu, H. F. (2024). Corporate governance effects of digital finance: Evidence from corporate tax avoidance in China. Research in International Business and Finance, 72. DOI:https://doi.org/10.1016/j.ribaf.2024.102526
[56] Gupta, S., and Newberry, K. (1997). Determinants of the variability in corporate effective tax rates: Evidence from longitudinal data. Journal of Accounting and Public Policy, 16(1), 0-34. DOI:https://doi.org/10.1016/s0278-4254(96)00055-5
[57] Hambrick, D. C. (2007). Upper echelons theory: An update. Academy of Management Review, 32(2), 334-343. DOI:https://doi.org/10.5465/amr.2007.24345254
[58] Hambrick, D. C., and Mason, P. A. (1984). Upper Echelons: The Organization as a Reflection of Its Top Managers. Academy of Management Review, 9(2), 193-206. DOI: https://doi.org/10.5465/amr.1984.4277628
[59] Han, Q. L., and Liu, L. (2017). Political Connections and Tax Policy's Impact on Corporate RandD Investment: Empirical Evidence from Private Listed Companies on China's Growth Enterprise Market. Journal of Central South University (Social Sciences), 23(04), 110-118.
[60] Hanlon, M., and Heitzman, S. (2010). A review of tax research. Journal of Accounting and Economics, 50(2-3), 127-178. DOI: https://doi.org/10.1016/j.jacceco.2010.09.002
[61] Hanlon, M., Laplante, S. K., and Shevlin, T. (2005). Evidence for the possible information loss of conforming book income and taxable income. Journal of Law and Economics, 48(2), 407-442. DOI:https://doi.org/10.1086/497525
[62] Hanlon, M., Mills, L. F., and Slemrod, J. B. (2005). An Empirical Examination of Corporate Tax Noncompliance. SSRN Electronic Journal, 21(1), 171-225. DOI: https://doi.org/10.2139/ssrn.891226
[63] Harry, DeAngelo, Ronald, W., Masulis. (1980). Optimal capital structure under corporate and personal taxation. Journal of Financial Economics, 8(1), 3-29. DOI: https://doi.org/10.1016/0304-405X(80)90019-7
[64] Hertzel, M. G., Li, Z., Officer, M. S., and Rodgers, K. J. (2008). Inter-firm linkages and the wealth effects of financial distress along the supply chain. Journal of Financial Economics, 87(2), 374-387. DOI:https://doi.org/10.1016/j.jfineco.2007.01.005
[65] Hill, M. D., Kubick, T. R., Lockhart, G. B., and Wan, H. S. (2013). The effectiveness and valuation of political tax minimization. Journal of Banking and Finance, 37(8), 2836-2849. DOI:https://doi.org/10.1016/j.jbankfin.2013.04.002
[66] Hoang, T. T., Nguyen, C. V., and Phung, T. D. (2019). Do male CEOs really run firms better than female counterparts? New evidence from Vietnam. Hitotsubashi Journal of Economics, 60(2), 121-140. DOI:https://doi.org/10.15057/30786
[67] Hogan, B., and Noga, T. (2015). Auditor-provided tax services and long-term tax avoidance. Emerald Group Publishing Limited(3). DOI: https://doi.org/10.1108/raf-10-2013-0116
[68] Hoopes, J. L., Mescall, D., and Pittman, J. A. (2012). Do IRS Audits Deter Corporate Tax Avoidance? Accounting Review, 87(5), 1603-1639. DOI: https://doi.org/10.2308/accr-50187
[69] Hope, O. K., Ma, M., and Thomas, W. B. (2013). Tax avoidance and geographic earnings disclosure. Journal of Accounting and Economics, 56(2-3), 170-189. DOI: https://doi.org/10.1016/j.jacceco.2013.06.001
[70] Hossain, M., and Mitra, S. (2023). Does headquarters location matter in corporate tax avoidance? Journal of Financial Stability, 64. DOI: https://doi.org/10.1016/j.jfs.2023.101106
[71] Hsieh, T. S., Wang, Z. H., and Demirkan, S. (2018). Overconfidence and tax avoidance: The role of CEO and CFO interaction. Journal of Accounting and Public Policy, 37(3), 241-253. DOI:https://doi.org/10.1016/j.jaccpubpol.2018.04.004
[72] Huang, H. H., Lobo, G. J., Wang, C., and Xie, H. (2016). Customer concentration and corporate tax avoidance. Journal of Banking and Finance. DOI: https://doi.org/10.1016/j.jbankfin.2016.07.018
[73] Huang, Y., and Yan, C. (2020). Global accounting standards, financial statement comparability, and the cost of capital. International Review of Economics and Finance, 69, 301-318. DOI:https://doi.org/10.1016/j.iref.2020.05.019
[74] Huseynov, F., Sardarli, S., and Zhang, W. (2017). Does index addition affect corporate tax avoidance? Journal of Corporate Finance, 43, 241-259. DOI: https://doi.org/10.1016/j.jcorpfin.2017.01.008
[75] Jensen, M. C., and Meckling, W. H. (1976). Theory of the firm: Managerial behaviour, agency costs and ownership structure. 3(4), 0-360. DOI: https://doi.org/10.1016/0304-405x(76)90026-x
[76] Jiang, H. L., Hu, W. J., and Jiang, P. C. (2024). Does ESG performance affect corporate tax avoidance? Evidence from China. Finance Research Letters, 61, Article 105056. DOI:https://doi.org/10.1016/j.frl.2024.105056
[77] Kanagaretnam, K., Lee, J., Lim, C. Y., and Lobo, G. J. (2016). Relation between Auditor Quality and Tax Aggressiveness: Implications of Cross-Country Institutional Differences. Auditing-a Journal of Practice and Theory, 35(4), 105-135. DOI: https://doi.org/10.2308/ajpt-51417
[78] Klapper, L. F., and Parker, S. C. (2011). Gender and the Business Environment for New Firm Creation. World Bank Research Observer, 26(2), 237-257. DOI: https://doi.org/10.1093/wbro/lkp032
[79] Koester, A., Shevlin, T., and Wangerin, D. (2017). The Role of Managerial Ability in Corporate Tax Avoidance. Management Science, 63(10), 3285-3310. DOI: https://doi.org/10.1287/mnsc.2016.2510
[80] Kovermann, J., and Velte, P. (2019). The Impact of Corporate Governance on Corporate Tax Avoidance. A Literature Review. Journal of International Accounting Auditing and Taxation. DOI:https://doi.org/10.1016/j.intaccaudtax.2019.100270
[81] Kubick, T. R., Lynch, D. P., Mayberry, M. A., and Omer, T. C. (2016). The Effects of Regulatory Scrutiny on Tax Avoidance: An Examination of SEC Comment Letters. Accounting Review, 91(6), 1751-1780. DOI:https://doi.org/10.2308/accr-51433
[82] Lampenius, N., Shevlin, T., and Stenzel, A. (2021). Measuring Corporate Tax Rate and Tax Base Avoidance of U.S. Domestic and U.S. Multinational Firms. Journal of Accounting and Economics (2), 101406. DOI:https://doi.org/10.1016/j.jacceco.2021.101406
[83] Law, K. K. F., and Mills, L. F. (2017). Military experience and corporate tax avoidance. Review of Accounting Studies, 22(1), 141-184. DOI: https://doi.org/10.1007/s11142-016-9373-z
[84] Lei, G. Y., Qiu, B. Y., Yu, J. L., and Zuo, J. J. (2023). "Hitting the jackpot" in corporate tax strategy: A perspective on gambling preferences. Economic Modelling, 125, Article 106333. DOI:https://doi.org/10.1016/j.econmod.2023.106333
[85] Lennox, C. S., Lisowsky, P., and Pittman, J. A. (2012). Tax Aggressiveness and Accounting Fraud. Journal of Accounting Research, 51(4), 739-778. DOI: https://doi.org/10.2139/ssrn.2016166
[86] Li, C., Wu, Y. H., and Hu, W. J. (2016). Internal board linkage, tax avoidance, and corporate value. Accounting Research, 50-57+97. (in Chinese).
[87] Li, J. H. (2024). Do managers respond to tax avoidance incentives by investing in the tax function? Evidence from tax departments. Journal of Contemporary Accounting and Economics, 20(1), Article 100401. DOI:https://doi.org/10.1016/j.jcae.2024.100401
[88] Li, X. L., Fang, S. Y., and Zhang, L. (2016). CEO power, customer concentration, and corporate tax avoidance intensity. Modern Finance and Economics (Journal of Tianjin University of Finance and Economics), 36(9), 100-113. DOI: https://doi.org/10.19559/j.cnki.12-1387.2016.09.009 (in Chinese).
[89] Li, X. X., Lim, C. Y., and Xu, Y. P. (2023). The minimum wage and corporate tax avoidance. Accounting and Business Research, 53(4), 379-415. DOI: https://doi.org/10.1080/00014788.2022.2045893
[90] Lietz, G. M. (2013). Determinants and Consequences of Corporate Tax Avoidance. Social Science Electronic Publishing. DOI: https://doi.org/10.2139/ssrn.2363868
[91] Lin, K. Z., Mills, L. F., Zhang, F., and Li, Y. B. (2018). Do Political Connections Weaken Tax Enforcement Effectiveness? Contemporary Accounting Research, 35(4), 1941-1972. DOI: https://doi.org/10.1111/1911-3846.12360
[92] Liu, H., Liu, J., and Zhang, T. M. (2010). Management equity incentive and the relationship between corporate tax avoidance. Foreign Taxation (12), 37-40. DOI: https://doi.org/10.19376/j.cnki.cn10-1142/f.2010.12.008
[93] Liu, X. H., and Lv, S. S. (2015). The impact of manager characteristics on the tax avoidance behavior of listed companies. Journal of Beijing Technology and Business University(04), 49-57. DOI:https://doi.org/10.16299/j.1009-6116.2015.04.007
[94] Liu, X. X., and Guo, S. Y. (2019). Media negative reporting, internal information environment and corporate tax avoidance. Securities Market Herald (03), 49-58.
[95] Liu, Z., Chen, Z., Wu, H., Huang, Z., and Zhang, Y. (2019). Base erosion and profit shifting of Chinese firms: Chinese experience under the reconfiguration of the international tax governance system. Economic Research Journal, 54(2), 21-35.
[96] Long, W. B., Wu, H. Y., Li, L. D., Ying, S. X., and Li, S. H. (2024). Mixed-ownership structure, non-state-blockholder coalition, and tax avoidance. International Review of Financial Analysis, 91, Article 102988. DOI:https://doi.org/10.1016/j.irfa.2023.102988
[97] Lv, W. (2010). Analyst tracking, property rights arrangements, and corporate tax avoidance behavior: Empirical evidence from the implementation of the new enterprise income tax law. Journal of Shanxi University of Finance and Economics, 32(11), 60-66. DOI: https://doi.org/10.13781/j.cnki.1007-9556.2010.11.003 (in Chinese).
[98] Markle, K. S., and Shackelford, D. A. (2012). Cross-country comparisons of corporate income taxes. National Tax Journal, 65(3), 493-527. DOI: https://doi.org/10.17310/ntj.2012.3.01
[99] McClure, R., Lanis, R., Wells, P., and Govendir, B. (2018). The impact of dividend imputation on corporate tax avoidance: The case of shareholder value. Journal of Corporate Finance, 48, 492-514. DOI:https://doi.org/10.1016/j.jcorpfin.2017.10.007
[100] McGee, R. W. (2012). Gender and the Ethics of Tax Evasion: An Empirical Study of 82 Countries. Social Science Electronic Publishing. DOI: https://doi.org/10.1007/978-1-4614-1287-8_26
[101] McGee, R. W., and Cohn, G. M. (2008). Jewish Perspectives on the Ethics of Tax Evasion. Journal of Legal, Ethical and Regulatory Issues, 11.
[102] McGuire, S. T., Omer, T. C., and Wang, D. C. (2012). Tax Avoidance: Does Tax-Specific Industry Expertise Make a Difference? Accounting Review, 87(3), 975-1003. DOI: https://doi.org/10.2308/accr-10215
[103] McGuire, S. T., Wang, D. C., and Wilson, R. J. (2014). Dual Class Ownership and Tax Avoidance. Accounting Review, 89(4), 1487-1516. DOI: https://doi.org/10.2308/accr-50718
[104] Mills, L. F., and Newberry, K. J. (2001). The Influence of Tax and Nontax Costs on Book‐Tax Reporting Differences: Public and Private Firms. SSRN Electronic Journal. DOI: https://doi.org/10.2139/ssrn.228340
[105] Mills, L., Erickson, M., and Maydew, E. (1998). Investments in Tax Planning. Journal of the American Taxation Association, 20(1): 1-20.
[106] Modigliani, F. (1963). Corporate Income Taxes and the Cost of Capital: A Correction. American Economic Review. DOI: https://doi.org/10.2307/1809167
[107] Mongeon, P., and Paul-Hus, A. (2016). The Journal Coverage of Web of Science and Scopus: A Comparative Analysis. Scientometrics, 106. DOI: https://doi.org/10.1007/s11192-015-1765-5
[108] Nerudova, D., Dobranschi, M., Solilov, V., and Litzman, M. (2023). Onshore and offshore profit shifting and tax revenue losses in the European Union. Economic Modelling, 119, Article 106111. DOI:https://doi.org/10.1016/j.econmod.2022.106111
[109] Phillips, J. D., and John, D. (2003). Corporate Tax-Planning Effectiveness: The Role of Compensation-Based Incentives. Accounting Review, 78(3), 847-874. DOI: https://doi.org/10.2308/accr.2003.78.3.847
[110] Powers, K., Robinson, J. R., and Stomberg, B. (2016). How do CEO incentives affect corporate tax planning and financial reporting of income taxes? Review of Accounting Studies, 21(2), 672-710. DOI:https://doi.org/10.1007/s11142-016-9350-6
[111] Rego, S. O. (2003). Tax-avoidance activities of US multinational corporations. Contemporary Accounting Research, 20(4), 805-833. DOI: https://doi.org/10.1506/vann-b7ub-gmfa-9e6w
[112] Rego, S. O., and Wilson, R. (2012). Equity Risk Incentives and Corporate Tax Aggressiveness. Journal of Accounting Research, 50(3), 775-810. DOI: https://doi.org/10.1111/j.1475-679X.2012.00438.x
[113] Richardson, G., and Lanis, R. (2007). Determinants of the variability in corporate effective tax rates and tax reform: Evidence from Australia. Journal of Accounting and Public Policy, 26(6), 689-704. DOI:https://doi.org/10.1016/j.jaccpubpol.2007.10.003
[114] Richardson, G., Lanis, R., and Taylor, G. L. (2015). Financial distress, outside directors and corporate tax aggressiveness spanning the global financial crisis: An empirical analysis. Journal of Banking and Finance, 52, 112-129. DOI: https://doi.org/10.1016/j.jbankfin.2014.11.013
[115] Robinson, J. R., Sikes, S. A., and Weaver, C. D. (2010). Performance Measurement of Corporate Tax Departments. Accounting Review, 85(3), 1035-1064. DOI: https://doi.org/10.2308/accr.2010.85.3.1035
[116] Siegfried, J. (1974). Effective Average US Corporation Income Tax Rates. National Tax Journal, 27(2), 245-259. Available at: http://www.jstor.org/stable/41861946
[117] Slemrod, J. (2004). The economics of corporate tax selfishness. National Tax Journal, 57(4), 877-899. DOI:https://doi.org/10.17310/ntj.2004.4.06
[118] Slemrod, J., Scholes, M. S., and Wolfson, M. A. (2002). Taxes and Business Strategy. Journal of Finance, 47(4), 1648. DOI: https://doi.org/10.2307/2328961
[119] Stickney, C. P., and McGee, V. E. (1982). Effective corporate tax rates: The effect of size, capital intensity, leverage, and other factors. Journal of Accounting and Public Policy, 1(2), 125-152. DOI:https://doi.org/10.1016/S0278-4254(82)80004-5
[120] Swamy, A. V., Knack, S., Lee, Y., and Azfar, O. (2000). Gender and Corruption. SSRN Electronic Journal. DOI:https://doi.org/10.6018/analesps.32.3.229171
[121] Tan, X., and Du, X. Q. (2015). Internationalized boards, auditor industry expertise, and tax avoidance. Journal of Shanxi University of Finance and Economics, 37(11), 113-124. DOI:https://doi.org/10.13781/j.cnki.1007-9556.2015.11.010 (in Chinese).
[122] Tucker, G. A. L. (2006). Tax shelters and corporate debt policy. Journal of Financial Economics. DOI:https://doi.org/10.1016/j.jfineco.2005.09.002
[123] Wang, D. Q., and Yang, H. Q. (2019). The effect of CEO overconfidence on the tendency of corporate tax avoidance behavior—with competitive strategy as a mediating variable. Journal of Hunan Agricultural University (Social Science Edition), 20(02), 55-61. DOI: https://doi.org/10.13331/j.cnki.jhau(ss).2019.02.008 (in Chinese).
[124] Wang, J. (2012). Do firms' relationships with principal customers/suppliers affect shareholders' income? Journal of Corporate Finance, 18(4), 860-878. DOI: https://doi.org/10.1016/j.jcorpfin.2012.06.007
[125] Wang, P., and Guo, K. (2019). A study on the impact of tax avoidance on the capital structure of listed companies. Finance and Trade Research, 30(05), 99-110. DOI: https://doi.org/10.19337/j.cnki.34-1093/f.2019.05.010 (in Chinese).
[126] Wang, P., Su, L. Z., and Ding, D. (2019). A study on the impact of tax avoidance of listed companies on the level and value of cash holdings. Journal of Beijing University of Technology and Business (Social Science Edition), 34(02), 63-76. (in Chinese).
[127] Wang, W., Wang, H., and Wu, J. (2021). Mixed ownership reform and corporate tax avoidance: Evidence of Chinese listed firms. Pacific-Basin Finance Journal, 69, Article 101648. DOI:https://doi.org/10.1016/j.pacfin.2021.101648
[128] Wang, Y. T., Wang, L. L., and Gong, C. P. (2009). Income Tax Reform, Earnings Management, and Its Economic Consequences. Economic Research Journal, 44(03), 86-98.
[129] Wang, Y. T., Wang, L. L., and Peng, Y. (2010). Property Rights Nature, Debt Tax Shield, and Capital Structure. Economic Research Journal, 45(09), 122-136.(in Chinese).
[130] Watts, R. L., and Zimmerman, J. L. (1986). A Positive Accounting Theory. Accounting Review, 65.
[131] Wen, W., Zhang, X. L., and Song, J. B. (2019). Can Scholarly CEOs Curb Corporate Tax Avoidance? Journal of Shanxi University of Finance and Economics, 41(06), 110-124. DOI:https://doi.org/10.13781/j.cnki.1007-9556.2019.06.009 (in Chinese).
[132] Wilson, Ryan J., An Examination of Corporate Tax Shelter Participants (2009). Accounting Review, Vol. 84, No. Available at SSRN: https://ssrn.com/abstract=2411015
[133] Wongsinhirun, N., Chatjuthamard, P., Chintrakarn, P., and Jiraporn, P. (2024). Tax avoidance, managerial ownership, and agency conflicts. Finance Research Letters, 61, Article 104937. DOI:https://doi.org/10.1016/j.frl.2023.104937
[134] Wu, L. S. (2009). State Ownership, Tax Incentives, and Corporate Tax Burden. Economic Research, 44(10), 109-120. (in Chinese).
[135] Wu, W. F., Wu, C. F., and Rui, M. (2009). Government background and tax benefits of executives in Chinese listed companies. Managers World, 2009(03), 134-142. DOI: https://doi.org/10.19744/j.cnki.11-1235/f.2009.03.015 (in Chinese).
[136] Wu, Z. G., Wan, D. F., and Wu, W. H. (2013). The impact of taxation on corporate RandD investment: crowding out effect and tax avoidance incentives - empirical evidence from Chinese GEM listed companies. Research and Development Managers, 25(05), 1-11. DOI: https://doi.org/10.13581/j.cnki.rdm.2013.05.001 (in Chinese).
[137] Xie, S. W., and Tian, L. (2014). CEO power, audit industry expertise, and tax radicalism. Audit and Economic Research, 29(05), 31-39. (in Chinese).
[138] Yan, C., Wang, J., Wang, Z., and Chan, K. (2023). Is reverence for life reverence for rule? Awe culture and corporate tax avoidance in China. International Review of Financial Analysis, 90, Article 102855. DOI:https://doi.org/10.1016/j.irfa.2023.102855
[139] Yan, H. M., and Liao, J. (2018). CEO-CFO alum relationship and corporate tax avoidance behavior—a study based on the perspective of tax administration intensity. Modern Finance and Economics (Journal of Tianjin University of Finance and Economics), 38(09), 77-91. DOI: https://doi.org/10.19559/j.cnki.12-1387.2018.09.006 (in Chinese).
[140] Yong, H., and Chao, Y. (2019). Global Accounting Standards, Financial Statement Comparability, and the Cost of Capital. SSRN Electronic Journal. DOI: https://doi.org/10.2139/ssrn.3500694
[141] Zhai, S. P., Fan, R., and Miao, Q. (2023). Reverse mixed reform and tax avoidance of private enterprises. Foreign Economics and Managers, 45(08), 34-50. DOI:https://doi.org/10.16538/j.cnki.fem.20220905.204 (in Chinese).
[142] Zhang, M., Liu, Y. S., Wang, X., and He, X. (2018). Enterprises and tax offices as neighbors: facilitating tax avoidance or tax collection? Managers World, 34(05), 150-164. DOI: https://doi.org/10.19744/j.cnki.11-1235/f.2018.05.012 (in Chinese).
[143] Zhu, J., Ho, K., Luo, S., and Peng, L. (2023). Pandemic and tax avoidance: Cross-country evidence. Economic Modelling, 124, Article 106300. DOI: https://doi.org/10.1016/j.econmod.2023.106300
Published
2024-09-30
How to Cite
GE, Chao; SU, Wunhong; WONG, Wong Ming.
Navigating the Maze: A Systematic Review of Empirical Studies on Tax Avoidance and Its Influence Factors.
Theoretical and Practical Research in Economic Fields, [S.l.], v. 15, n. 3, p. 659 - 684, sep. 2024.
ISSN 2068-7710.
Available at: <https://journals.aserspublishing.eu/tpref/article/view/8595>. Date accessed: 21 nov. 2024.
doi: https://doi.org/10.14505/tpref.v15.3(31).12.
Section
Articles
Non-Exclusive License under Attribution 4.0 International Public License (CC BY 4.0):
This ‘Article’ is distributed under the terms of the license CC-BY 4.0., which lets others distribute, remix, adapt, and build upon this article, even commercially, as long as they credit this article for the original creation. ASERS Publishing will be acknowledged as the first publisher of the Article and a link to the appropriate bibliographic citation (authors, article title, volume issue, page numbers, DOI, and the link to the Published Article on ASERS Publishing’ Platform) must be maintained.