The governance role of lender monitoring: Evidence from Borrowers' tax planning

IF 1.2 Q3 BUSINESS, FINANCE
Fuzhao Zhou , Pei Shao , Feixue Xie , Jianning Huang
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引用次数: 0

Abstract

We posit that lender monitoring increases the general outcomes of borrowers' tax avoidance while reducing opportunistic tax aggressive behaviors. We identify four lender related monitoring measures that could affect borrowers' tax planning. We find firms with a larger portion of loan shares held by lead lenders, with loans led by reputable lenders, and with a single lending relationship to have more tax avoidance and less tax aggressiveness, and firms with loan sales that weaken lenders' monitoring incentives to have less tax avoidance and more tax aggressiveness. We further find the lender monitoring effect on tax planning to be more pronounced for firms closer to financial distress and bankruptcy.

贷款人监督的治理作用:来自借款人税收规划的证据
我们假设,贷款人的监控增加了借款人避税的总体结果,同时减少了机会主义的税收侵略行为。我们确定了四项可能影响借款人税收规划的与贷款人相关的监控措施。我们发现,由主要贷款人持有大部分贷款份额的公司,由信誉良好的贷款人领导的贷款,以及具有单一贷款关系的公司,避税较多,税收积极性较低,而贷款销售削弱了贷款人监控激励的公司,则避税较少,税收积极程度较高。我们进一步发现,对于更接近财务困境和破产的公司来说,贷款人对税收计划的监督作用更为明显。
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来源期刊
Advances in Accounting
Advances in Accounting BUSINESS, FINANCE-
CiteScore
2.50
自引率
6.20%
发文量
29
期刊介绍: Advances in Accounting, incorporating Advances in International Accounting continues to provide an important international forum for discourse among and between academic and practicing accountants on the issues of significance. Emphasis continues to be placed on original commentary, critical analysis and creative research.
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