Corporate tax avoidance and cost of equity capital: international evidence
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Chun, Hong Min | - |
dc.contributor.author | Kang, Grace Il-Joo | - |
dc.contributor.author | Lee, Sang Ho | - |
dc.contributor.author | Yoo, Yong Keun | - |
dc.date.accessioned | 2021-08-30T20:57:56Z | - |
dc.date.available | 2021-08-30T20:57:56Z | - |
dc.date.created | 2021-06-19 | - |
dc.date.issued | 2020-06-20 | - |
dc.identifier.issn | 0003-6846 | - |
dc.identifier.uri | https://scholar.korea.ac.kr/handle/2021.sw.korea/54985 | - |
dc.description.abstract | This study examines the association between firm's tax avoidance activities and cost of equity capital across 17 countries. Consistent with the prior study based on the U.S. evidence, within strong investor protection countries, the extent of firm's tax avoidance is negatively associated with its cost of equity capital. This result indicates that strong investor protection induces investors to perceive firm's tax avoidance activities as the results of efficient tax planning to reduce tax liabilities. To the contrary, we find that the extent of firm's tax avoidance is positively associated with its cost of equity capital within weak investor protection countries. This result suggests that investors impose equity risk premium on firm's tax avoidance activities in weak investor protection countries, where agency conflicts prevail more on firm's tax avoidance activities. As the first international study on the association between firm's tax avoidance activities and its cost of equity capital, this study contributes to the literature by suggesting that such an association may vary across countries depending on the strength of investor protection within each country of domicile. | - |
dc.language | English | - |
dc.language.iso | en | - |
dc.publisher | ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD | - |
dc.subject | CROSS-SECTION | - |
dc.subject | EARNINGS | - |
dc.subject | RETURNS | - |
dc.subject | RISK | - |
dc.subject | AGGRESSIVENESS | - |
dc.title | Corporate tax avoidance and cost of equity capital: international evidence | - |
dc.type | Article | - |
dc.contributor.affiliatedAuthor | Yoo, Yong Keun | - |
dc.identifier.doi | 10.1080/00036846.2019.1706716 | - |
dc.identifier.scopusid | 2-s2.0-85077398653 | - |
dc.identifier.wosid | 000504523700001 | - |
dc.identifier.bibliographicCitation | APPLIED ECONOMICS, v.52, no.29, pp.3123 - 3137 | - |
dc.relation.isPartOf | APPLIED ECONOMICS | - |
dc.citation.title | APPLIED ECONOMICS | - |
dc.citation.volume | 52 | - |
dc.citation.number | 29 | - |
dc.citation.startPage | 3123 | - |
dc.citation.endPage | 3137 | - |
dc.type.rims | ART | - |
dc.type.docType | Article | - |
dc.description.journalClass | 1 | - |
dc.description.journalRegisteredClass | ssci | - |
dc.description.journalRegisteredClass | scopus | - |
dc.relation.journalResearchArea | Business & Economics | - |
dc.relation.journalWebOfScienceCategory | Economics | - |
dc.subject.keywordPlus | CROSS-SECTION | - |
dc.subject.keywordPlus | EARNINGS | - |
dc.subject.keywordPlus | RETURNS | - |
dc.subject.keywordPlus | RISK | - |
dc.subject.keywordPlus | AGGRESSIVENESS | - |
dc.subject.keywordAuthor | Corporate Tax Avoidance | - |
dc.subject.keywordAuthor | Cost of Equity Capital | - |
dc.subject.keywordAuthor | Investor Protection | - |
Items in ScholarWorks are protected by copyright, with all rights reserved, unless otherwise indicated.
(02841) 서울특별시 성북구 안암로 14502-3290-1114
COPYRIGHT © 2021 Korea University. All Rights Reserved.
Certain data included herein are derived from the © Web of Science of Clarivate Analytics. All rights reserved.
You may not copy or re-distribute this material in whole or in part without the prior written consent of Clarivate Analytics.