CEO组织认同与税收规避

CEO Organizational Identification and Tax Avoidance

高管作为企业决策的直接制定者和执行者,其心理特征对企业行为产生重要的影响。已有研究发现,高管个人对企业的税收规避决策产生重要的影响。CEO在做出税收规避决策时需要考虑其收益和成本,对企业认同感不同的CEO在考虑收益和成本时存在较大的差异,进而导致不同的税收规避政策。以税收规避的收益和成本理论以及代理理论为基础,利用2014年中国上市企业调查问卷的组织认同数据,采用名义所得税率与实际所得税率的差值测量税收规避,选择2013年至2015年中国沪深两市5209个企业的观测值作为研究样本,采用最小二乘回归方法,探讨CEO组织认同与税收规避的关系,并按企业内部的信息透明度和外部的税收征管力度进行分组,深入分析不同情景下CEO组织认同与税收规避之间的关系。研究结果表明,CEO组织认同与税收规避显著负相关,即CEO组织认同越高,税收规避越少。在信息透明度较高和税收征管力度较弱的企业中,CEO组织认同与税收规避显著负相关。进一步研究CFO组织认同对税收规避的影响,发现CFO组织认同与税收规避负相关,但不显著,并且不影响CEO组织认同与税收规避之间的关系。稳健性检验中,使用有效税率替代税收规避,采用主成分分析法构建CEO组织认同,检验结果仍然保持不变。CEO组织认同对税收规避产生重要的影响,并且在信息透明度较高和税收征管力度较弱的情景下这一影响依然存在。研究结果有助于理解中国制度背景下企业的税收规避行为,也为税务机关、监管机构和企业提供有益启示,在实践中对上市企业完善高管人力资源计划具有一定的指导意义。

As the direct decision-maker and executor,the psychological characteristics of senior executives would have an important impact on the behavior of enterprises.The existing research has found that senior executives have an important impact on enterprise tax avoidance policies,and there is a trade-off benefits and costs when making tax avoidance decisions,CEOs who have different sense of organizational identification have large differences in considering benefits and costs,which leads to different tax avoidance policies.Based on the benefit and cost theory of tax avoidance and agency theory,using the organizational identification data from the survey of China′s listed companies in 2014 and the difference of nominal tax rate and effective tax rate as tax avoidance measurement.5209 companies-year samples are selected from the listed firms in Shanghai Stock Exchanges and Shenzhen Stock Exchanges from 2013 to 2015.This study investigates the association between CEO organizational identification and tax avoidance by using ordinary least square multivariate regression.In addition,this study also groups the samples according to internal enterprise information transparency and external tax collection and management intensity,and further examines the association between CEO organizational identification and tax avoidance under the different circumstances.The research method is ordinary least square multivariate regression.The empirical results reveal that CEO organizational identification is significantly negatively correlated with tax avoidance,that is,the higher the CEO organizational identification,the less tax avoidance.From internal enterprise information transparency and external tax collection and management intensity,this study analyzes the different scenario how to effect the association between CEO organizational identification and tax avoidance.The empirical results show that CEO organizational identification is significantly negatively correlated with tax avoidance only in the firms with higher information transparency or weaker tax collection and management intensity.In addition,this study finds that CFO organizational identification is also negatively correlated with tax avoidance,but not significantly,and CFO organizational identification does not affect the association between CEO organizational identification and tax avoidance.In robustness test,using effective tax rate instead of tax avoidance,employing principal component analysis to build CEO organizational identification variable,the results still remain the same.This study demonstrates that CEO organizational identification has an important impact on tax avoidance and the association varies under different scenarios.The findings are helpful to understand the tax avoidance behaviors of firms under the background of Chinese system.It also has some implications for tax regulators,financial authorities and firms,and have certain guidance significance to improve the human resource plan of executives in the listed enterprise.