德勤－复旦会计论坛系列233期讲座信息
时 间：2024年 7月1日（周一）下午1:30
地 点：史带楼303
题 目：Does Corporate Tax Planning Affect Firm Productivity?
报告人: Edward Lee (The University of Manchester)
主持人：朱振梅 副教授
摘 要：
We examine the relation between corporate tax planning and ffrm-level productivity. Using a sample of U.S. public ffrms from 1993 to 2017, we ffnd that tax planning is positively associated with productivity. Our ffndings further indicate that tax planning contributes to growth in production input factors – capital and labor. We also test the underlying mechanisms, documenting that the observed association between productivity and tax planning is more pronounced in small, knowledge capital intensive, and ffnancially constrained ffrms, and that tax planning mutes the adverse productivity response to economic uncertainty. We exploit the initiation of new banking relationships and the introduction of Check-the-Box regulations as sources of tax planning variation to facilitate Difference-in-Differences analyses. The empirical evidence is rigorous to a wide array of robustness tests. Taken together, the results enhance the understanding on the economic implications of tax planning and provide insights for informed tax policy debates.
会计学系
2024-6-28
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