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کاربرد نوع شرط:
- جایگاه : پژوهشی
- مجله: International Journal of Finance and Managerial Accounting
- نوع مقاله: Journal Article
- کلمات کلیدی: Tax Avoidance,Cost of Equity,outside monitoring
- چکیده:
- چکیده انگلیسی: Literature in tax avoidance indicates that the proceeds of tax avoidance can be invested on production affairs, which in turn enhance the future expected cash flow, thereby reducing the cost of equity. Based on this reasoning, the present study aims to examine whether tax avoidance is associated with the cost of equity with emphasis on the moderating effect of outside monitoring. To calculate tax avoidance, the effective tax rate is employed. Using a sample of 420 firm-year observations from 2011 to 2015 and after controlling for the effect of exogenous variables, to test the research hypotheses, multivariate regression model based on panel data was employed; the results indicate that tax avoidance is negatively and significantly associated with the cost of equity. In other words, firms, investing the proceeds of tax avoidance, increase their future expected cash flow and hence reduce the cost of equity. Moreover, outside monitoring moderates the relationship between tax avoidance and cost of equity. The findings of the study not only fill the research gap in the field, but also benefit investors, tax regulators and other stakeholders in decision making process.
- انتشار مقاله: 02-10-1395
- نویسندگان: Rohollah Ghelichli,Mehdi Safari Gerayli,Mansoor Garkaz
- مشاهده
- جایگاه : پژوهشی
- مجله: Advances in Mathematical Finance and Application
- نوع مقاله: Journal Article
- کلمات کلیدی: Financial Information,structural equation modeling,Behavioral Accounting,Value Accounting
- چکیده:
- چکیده انگلیسی: The purpose of this research is to provide a model for reporting quality of financial information based on behavioral and value accounting of listed companies in Tehran Stock Exchange which is based on Structural Equation Modeling. This research in terms of applied purpose is applied research and in terms of data collection method is post-semi experimental research in the field of proofing accounting research with deductive- inductive approach. The statistical population of this is including the sample of 128 listed companies in the Tehran Stock Exchange between 2007 and 2017. The behavioral characteristics of managers (hidden variables) is measured by observable variables of myopia, opportunistic behavior and over confidence of managers and the value content of accounting information (hidden variable) is evaluated by the observable variables of relevance of profit and relevance of book value. And reporting quality of financial information is also investigated based on the scores accrued to each company and the announcement published by the Tehran Stock Exchange based on the companies' rating in terms of the quality of reporting and proper notification. After insuring the acceptable fitness of the measurement pattern and the structure of research in both approaches; Structural Equations Modeling and regression, the results indicate that there is a significant negative relationship between the behavioral characteristics of managers and the reporting quality financial information. Also, there is a positive and significant relationship between value content of accounting information and reporting quality of financial information.
- انتشار مقاله: 17-10-1397
- نویسندگان: Roya Izi,Mansoor Garkaz,Parviz Saeidi,Alireza Matoofi
- مشاهده