股东对企业税务筹划中外部税务顾问的看法

IF 3.2 3区 管理学 Q1 BUSINESS, FINANCE Contemporary Accounting Research Pub Date : 2024-03-10 DOI:10.1111/1911-3846.12945
Michael P. Donohoe, Brian T. Gale, Michael A. Mayberry
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引用次数: 0

摘要

我们研究了股东对外部税务顾问如何促进公司税务筹划的看法。作为公司税务筹划的剩余索取者,股东从较低的公司税中获益,但也要承担后续税务执法的财务和声誉成本。尽管外部税务顾问在公司税务筹划中扮演着极具影响力的咨询角色,但有关股东如何看待这一角色的现有研究却十分有限。我们使用事件研究方法,并利用通过涵盖意见规则加强对税务咨询的监管作为背景,观察到平均和横截面股票回报率与股东认为外部税务顾问通过推广风险过高的策略对税务筹划造成不利影响的看法一致。我们进一步发现,在规则颁布后,各公司的风险和整体税务筹划都有所下降,这与股东对税务顾问对公司税务筹划的贡献的看法是一致的。总之,我们的研究结果有助于股东对税务筹划的看法和估值的研究,并对实践具有重要意义,因为外部税务顾问的监管监督仍然是一个重要问题。本文受版权保护,版权所有。
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Shareholder perceptions of external tax advisors in corporate tax planning

We examine shareholders' perceptions about how external tax advisors contribute to corporate tax planning. As residual claimants of corporate tax planning, shareholders benefit from lower corporate taxes, but also bear the financial and reputational costs of subsequent tax enforcement. Despite the influential advisory role of external tax advisors in corporate tax planning, existing research on how shareholders perceive this role is limited. Using event study methods and exploiting the heightened regulation of tax advice through the covered opinion rules as a setting, we observe average and cross-sectional stock returns consistent with shareholders perceiving external tax advisors as contributing unfavorably to tax planning by promoting excessively risky strategies. We further find that risky and overall tax planning declined across firms after the enactment of the rules, consistent with shareholders' perceptions about tax advisors' contributions to firms' tax planning. Overall, our findings contribute to research on shareholder perceptions and valuation of tax planning, and have important implications for practice, where regulatory oversight of external tax advisors remains a significant concern.

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来源期刊
CiteScore
6.20
自引率
11.10%
发文量
97
期刊介绍: Contemporary Accounting Research (CAR) is the premiere research journal of the Canadian Academic Accounting Association, which publishes leading- edge research that contributes to our understanding of all aspects of accounting"s role within organizations, markets or society. Canadian based, increasingly global in scope, CAR seeks to reflect the geographical and intellectual diversity in accounting research. To accomplish this, CAR will continue to publish in its traditional areas of excellence, while seeking to more fully represent other research streams in its pages, so as to continue and expand its tradition of excellence.
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