Vertical interlock and corporate tax avoidance

IF 1.9 Q2 BUSINESS, FINANCE

China Journal of Accounting Research Pub Date : 2025-03-28 DOI:10.1016/j.cjar.2025.100418

Wen Wen , Fei Qiao , Jingli Feng

引用次数: 0

Abstract

This study examines the impact of vertical interlock on corporate tax avoidance in business groups using data on Chinese listed companies from 2003 to 2019. We find that vertical interlock has a negative impact on corporate tax avoidance. Our result is robust to alternative measures, difference-in-differences analysis, the Heckman two-stage sample selection method, an instrumental variable approach, change analysis and controlling for potential omitted variables. The impact of vertical interlock on corporate tax avoidance is more pronounced in firms with more related-party transactions and greater divergence between ownership and control rights. Overall, the findings suggest that vertical interlock exerts a significant influence on corporate tax behavior, providing insights into the ownership structure of business groups.

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纵向联锁与企业避税

本研究利用2003 - 2019年中国上市公司的数据，考察了垂直连锁对企业集团企业避税的影响。研究发现，纵向连锁效应对企业避税具有负向影响。我们的结果对于替代测量、差中差分析、Heckman两阶段样本选择方法、工具变量方法、变化分析和潜在遗漏变量控制都是稳健的。纵向联锁对企业避税的影响在关联交易较多、所有权和控制权分化较大的企业中更为明显。总体而言，研究结果表明，垂直互锁对企业税收行为有显著影响，为企业集团的股权结构提供了见解。

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

China Journal of Accounting Research BUSINESS, FINANCE-

CiteScore

4.70

自引率

0.00%

发文量

295

审稿时长

15 weeks

期刊介绍： The focus of the China Journal of Accounting Research is to publish theoretical and empirical research papers that use contemporary research methodologies to investigate issues about accounting, corporate finance, auditing and corporate governance in the Greater China region, countries related to the Belt and Road Initiative, and other emerging and developed markets. The Journal encourages the applications of economic and sociological theories to analyze and explain accounting issues within the legal and institutional framework, and to explore accounting issues under different capital markets accurately and succinctly. The published research articles of the Journal will enable scholars to extract relevant issues about accounting, corporate finance, auditing and corporate governance related to the capital markets and institutional environment.