Financial Constraints and the Incentive for Tax Planning

2012 ◽  
Author(s):  
Alexander S. Edwards ◽  
Casey Schwab ◽  
Terry J. Shevlin
Keyword(s):  
Financial Constraints ◽  
Tax Planning

Does corporate tax planning mitigate financial constraints? Evidence from China

2021 ◽  
Author(s):  
Jie Sun ◽  
Lewis Makosa ◽  
Jinkun Yang ◽  
Fangyuan Yin ◽  
Lovemore Sitsha
Keyword(s):  
Financial Constraints ◽  
Tax Planning ◽  
Corporate Tax

Financial Constraints and Cash Tax Savings

2015 ◽  
Vol 91 (3) ◽  
pp. 859-881 ◽  
Author(s):  
Alexander Edwards ◽  
Casey Schwab ◽  
Terry Shevlin
Keyword(s):  
Financial Constraints ◽  
Cash Flows ◽  
Tax Planning ◽  
Data Availability ◽  
Financial Statement ◽  
Tax Rates ◽  
Effective Tax Rates ◽  
Tax Savings ◽  
Cash Reserves ◽  
The Impact

ABSTRACT We investigate the association between financial constraints and cash savings generated through tax planning. We predict that an increase in financial constraints leads firms to increase internally generated funds via tax planning. We measure financial constraints based on changes in firm-specific and macroeconomic measures. We find that firms facing increases in financial constraints exhibit increases in cash tax planning. Our results indicate that among profitable firms, firm-years with the largest increases in firm-specific constraints are associated with declines in firms' cash effective tax rates ranging from 3.00 to 5.14 percent, which equate to between 2.87 and 4.82 percent of operating cash flows. We also find that (1) the impact of financial constraints on tax planning is greatest among firms with low cash reserves, and (2) constrained firms achieve a substantial portion of their current tax savings via deferral-based tax planning strategies, despite the lack of a financial statement benefit. JEL Classifications: E69; H25; H60. Data Availability: Data used in this study are available from public sources identified in the paper.

Markets for Purchased Farm Inputs

2005 ◽  
pp. 60-71
Author(s):  
E. Serova ◽  
O. Shick
Keyword(s):  
Agricultural Policy ◽  
Financial Constraints ◽  
Information Sources ◽  
Animal Feed ◽  
Government Policies ◽  
Market Institutions ◽  
Policy Makers ◽  
Government Organizations ◽  
The Impact ◽  
Farm Inputs

Russian policy makers argue that agriculture suffers from decapitalization due to financial constraints faced by producers. This view is the basis for the national agricultural policy, which emphasizes reimbursement of input costs and substitutes government and quasi-government organizations for missing market institutions. The article evaluates the availability of purchased farm inputs, the efficiency of their use, the main problems in the emergence of market institutions, and the impact of government policies. The analysis focuses on five groups of purchased inputs: farm machinery, fertilizers, fuel, seeds, and animal feed. The information sources include official statistics and data from two original surveys.

Ties to the outside: An exploration of faculty interactions with external organizations

2018 ◽  
Vol 4 (1) ◽  
pp. 295-313 ◽  
Author(s):  
Karley A Riffe
Keyword(s):  
Study Design ◽  
Financial Constraints ◽  
Academic Discipline ◽  
Faculty Members ◽  
Faculty Work ◽  
Case Study Design ◽  
Low Resource ◽  
Faculty Interactions ◽  
Embedded Case Study

Faculty work now includes market-like behaviors that create research, teaching, and service opportunities. This study employs an embedded case study design to evaluate the extent to which faculty members interact with external organizations to mitigate financial constraints and how those relationships vary by academic discipline. The findings show a similar number of ties among faculty members in high- and low-resource disciplines, reciprocity between faculty members and external organizations, and an expanded conceptualization of faculty work.

Political Connections and Financial Constraints: Evidence from Transition Countries

2019 ◽  
Author(s):  
Maurizio Bussolo ◽  
Francesca de Nicola ◽  
Ugo Panizza ◽  
Richard Varghese
Keyword(s):  
Financial Constraints ◽  
Transition Countries ◽  
Political Connections

Peran kepemilikan institusional, perencanaan pajak dan dewan komisaris asing terhadap nilai perusahaan

2019 ◽  
Vol 8 (2) ◽  
Author(s):  
Anita Ade Rahma ◽  
Lisa Nabawi ◽  
Ronni Andri Wijaya
Keyword(s):  
Significant Influence ◽  
Firm Value ◽  
Stock Exchange ◽  
Investment Decisions ◽  
Total Sample ◽  
Tax Planning ◽  
Purposive Sampling ◽  
Institutional Leadership ◽  
Company Value

The purpose of this study is to analyze the role of institutional leadership, tax planning and foreign board of commissioners on firm value. The population in this study were 615 companies listed on the Indonesia Stock Exchange in 2015-2017. The sample was chosen using purposive sampling to get a total sample of 325 companies with a total of 975 observations of company data. The results of this study indicate that institutional leadership and tax planning have no role in increasing company value. While the foreign board of commissioners showed a significant influence on the value of the company. This proves that there is a need for diversity in the structure of the board that can trigger an increase in the value of the company. In addition, the presence of a foreign board is needed for the progress of the companyKeywords: Investment decisions; funding decisions; dividend policy; company value

Sign in / Sign up

Export Citation Format

Share Document