企业减碳与避税:国际证据

IF 2.9 3区 管理学 Q2 BUSINESS, FINANCE Journal of Contemporary Accounting & Economics Pub Date : 2024-03-15 DOI:10.1016/j.jcae.2024.100416
Zhi-Yuan Feng , Ying-Chieh Wang , Wen-Gine Wang
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引用次数: 0

摘要

利用 28 个国家的企业碳排放数据,我们记录了企业发起碳减排活动与降低纳税额之间的关系。这一结果证实了合法性感知理论,即企业可以通过采取碳减排战略获得税务机关的合法性。我们的研究还表明,纳税额降低与企业碳减排之间的正相关关系会提高企业的资产回报率(ROA),尤其是对经营业绩较差的企业而言。此外,我们的研究还表明,在征收碳税、媒体自由度较高、司法独立和法律制度健全的国家,从事碳减排活动的企业可以减轻税收负担。一个国家的这些不同制度会影响公司的碳减排、较低的纳税额和整体业绩之间的关系。即使使用其他碳排放衡量标准、企业社会责任控制变量以及熵平衡或倾向得分匹配样本,我们的研究结果也是稳健的。
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Corporate carbon reduction and tax avoidance: International evidence

Using data on firms’ carbon emissions in 28 countries, we document that a firm’s initiation of carbon reduction activities relates to lower tax payments. This result endorses a perception of legitimacy theory suggesting that companies can gain legitimacy with tax authorities by adopting carbon reduction strategies. Our study also shows that the positive relationship between lower tax payments and a firm’s carbon reduction leads to higher Return on Assets (ROA), particularly for firms with lower operating performance. Moreover, our study documents that firms that engage in carbon reduction activities can mitigate their tax burden in countries that impose a carbon tax, have higher media freedom, judicial independence, and robust legal systems. These various institutions within a country can influence the relationship between a company’s carbon emission reductions, lower tax payments, and its overall performance. Our findings are robust even when using alternative measures of carbon emissions, control variables for corporate social responsibility, and the entropy-balance or propensity score matching sample.

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来源期刊
CiteScore
6.00
自引率
3.00%
发文量
24
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