Unified or divided? Conflicting interests of controlling shareholders in corporate tax avoidance

IF 4.6 2区经济学 Q1 BUSINESS, FINANCE

Emerging Markets Review Pub Date : 2025-07-12 DOI:10.1016/j.ememar.2025.101339

Sun-ae Cho , Sangil Kim , Won-Wook Choi

引用次数: 0

Abstract

This study examines the heterogeneity among controlling shareholders on corporate tax avoidance. Findings reveal that controlling shareholders are divided on tax avoidance behavior, which leads to less tax avoidance; however, they are unified in earnings management and R&D expenditure. Additional analysis shows that their divided interests are influenced by several factors, such as shareholder type, related-party transactions, family business status, Chaebol affiliation, and firm maturity. This study underscores that controlling shareholders, once considered a single entity, encompass individuals who counterbalance each other's interests; thus, reassessing their corporate governance role is necessary.

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统一还是分裂？企业避税中的控股股东利益冲突

本研究考察了控股股东对企业避税行为的异质性。研究发现，控股股东在避税行为上存在分歧，导致其避税行为减少；但是，它们在盈余管理和研发支出方面是统一的。进一步分析表明，股东类型、关联方交易、家族企业地位、财阀隶属关系、企业成熟度等因素对其利益分配有影响。这项研究强调，一度被视为单一实体的控股股东，包括了相互制衡利益的个人；因此，重新评估他们的公司治理角色是必要的。

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

Emerging Markets Review Multiple-

CiteScore

7.10

自引率

4.20%

发文量

审稿时长

100 days

期刊介绍： The intent of the editors is to consolidate Emerging Markets Review as the premier vehicle for publishing high impact empirical and theoretical studies in emerging markets finance. Preference will be given to comparative studies that take global and regional perspectives, detailed single country studies that address critical policy issues and have significant global and regional implications, and papers that address the interactions of national and international financial architecture. We especially welcome papers that take institutional as well as financial perspectives.