Tax avoidance activities of enterprises and investors'attention
DOI:
https://doi.org/10.54097/hbem.v11i.8153Keywords:
Eenterprise tax avoidance, Enterprise information transparency, Investor attention, Actual tax burden.Abstract
From the perspective of the impact of corporate tax avoidance on investors' expectations, this paper puts forward the hypothesis that the degree of corporate tax avoidance will significantly affect investors' attention.Meanwhile, using A-share listed companies in Shanghai and Shenzhen from 2017 to 2021 as samples, the paper empirically explores the impact of corporate tax avoidance on investors' attention and its mechanism. It is found that it makes a great difference on investors' attention,and the results are still valid after a series of robustness tests.The mechanism research shows that the transparency of enterprise information has a negative moderating effect on the influence of enterprise tax avoidance and investor attention.Heterogeneity research revels that the negative impact of corporate tax avoidance on investors' attention is much outstanding in Shanghai and Shenzhen A-share listings with strong social responsibility without hiring four major accounting firms to audit annual reports.The research results of this paper extend the scope of the outcomes of enterprise tax avoidance behavior to a certain extent,and have certain reference value for enterprise behavior.
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