Tax-strategy-related words, firm’s ability, and tax avoidance

IF 2.9 Q2 MANAGEMENT

International Journal of Disclosure and Governance Pub Date : 2023-11-28 DOI:10.1057/s41310-023-00214-3

Yicheng Wang, Brian Wright

引用次数: 0

Abstract

This study examines the linguistic cues of tax avoidance in 10-K filings by constructing a tax-strategy-related (TSR) word list. We find a positive relationship between a firm's innate ability to avoid taxes, measured by the occurrence of TSR words, and the level of tax avoidance. Our results are robust across multiple measures and unaffected by firms' disclosure behavior or managerial ability. Additionally, investors negatively value the disclosure of TSR words in well-governed and less tax-avoiding firms.

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税收策略相关词汇、企业能力与避税

本研究通过构建一个税收策略相关(TSR)单词列表来检验10-K文件中避税的语言线索。我们发现，企业天生的避税能力(通过TSR词的出现来衡量)与避税水平之间存在正相关关系。我们的研究结果在多种衡量标准中都是稳健的，不受公司披露行为或管理能力的影响。此外，投资者对管理良好、避税较少的公司披露TSR词汇的价值是负面的。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Journal of Disclosure and Governance MANAGEMENT-

CiteScore

4.80

自引率

11.10%

发文量

期刊介绍： The International Journal of Disclosure and Governance publishes a balance between academic and practitioner perspectives in law and accounting on subjects related to corporate governance and disclosure. In its emphasis on practical issues, it is the only such journal in these fields. All rigorous and thoughtful conceptual papers are encouraged. To date, International Journal of Disclosure and Governance has published articles by a former general counsel and a former commissioner of the SEC, practitioners from Cleary Gottlieb, Skadden Arps, Wachtell Lipton, and Latham & Watkins as well as articles by academics from Harvard, Yale and NYU. The readership of the journal includes lawyers, accountants, and corporate directors and managers.