[雙語(yǔ)翻譯]外文翻譯--公司所有權(quán)、治理與避稅--互動(dòng)效應(yīng)

1、5000 英文單詞， 英文單詞，2.8 萬(wàn)英文字符，中文 萬(wàn)英文字符，中文 8400 字文獻(xiàn)出處： 文獻(xiàn)出處：Annuar H A , Salihu I A , Obid S N S . Corporate Ownership, Governance and Tax Avoidance: An Interactive Effects[J]. Procedia - Social and Behavioral Sciences, 2014,

2、 164:150-160.Corporate ownership, governance and tax avoidance: An interactive effectsHairul Azlan Annuar, Ibrahim Aramide Salihu, Siti Normala Sheikh ObidAbstractAlthough tax avoidance practices are as old as taxes them

3、selves, the ways they are being perpetrated among corporate taxpayers have transmuted so sophisticated in recent times. This study thus proposes models for empirical investigations into the relationship between corporate

4、 ownership structure and corporate tax avoidance in Malaysia. It was argued, based on cost/benefits consideration of tax avoidance, that family; foreign and government ownerships could be associated with corporate tax av

5、oidance among Malaysian listed companies. The study further proposes that strong governance mechanism could mitigate such association. Two econometrics dynamic panel data models are proposed for the investigation. Genera

6、lized Method Moment (GMM) estimator is recommended as the estimation method.Keywords: Corporate tax avoidance; ownership structure; corporate governance; developing economies; generalized method moment (GMM)1. Introducti

7、onThe issues of tax avoidance have been problems since the inception of tax legislations and are prevalent in every society where taxes are levied (Andreoni, Erard Uadiale, Fagbemi Verboon Richardson Zimmerman, 1983)

8、, capital intensity, leverage (Noor, Mastuki Richardson Stickney Shevlin corporate ownership and corporate tax avoidance; and corporate governance. Section 3.0 gives the proposed empirical method of the paper which t

9、he sample source of data; modals specification and variables measurements; and the proposed estimation method. Section 4.0 presents the conclusion of the paper.2. Literature reviewThe fact that taxes are deductions from

10、the cash flows available to a firm, and hence the dividends distributable to the shareholders, suggests that firm owners would strive to maximize their wealth through various tax avoidance practices. However, such benefi

11、t of increased cash flows from tax avoidance practices is accomplished with certain non-tax costs. This demands the costs/benefits consideration of such practices and the choice of tax avoidance if the benefits outweigh

12、the associated costs. Thus, the benefits and the associated costs with corporate tax avoidance are discussed here. Prior to this discussion, little insights are provided on the meaning and measures of corporate tax avoid

13、ance to give proper ground for the discussion.2.1 Meaning and measures of corporate tax avoidanceThe term corporate tax avoidance lacks universal definition as it might connote “different thing to different people” (Hanl

14、on Salihu 2014). Here, we define corporate tax avoidance as a reduction in the explicit corporate tax liabilities. This definition is in line with Hanlon and Heitzman (2010) that describe tax avoidance “as a continuum o

15、f tax planning strategies where something like municipal bond investments are at one end (lower explicit tax, perfectly legal), then terms such as ‘noncompliance’, ‘evasion’, ‘a(chǎn)ggressiveness’, and ‘sheltering’ would be c

16、loser to the other end of the continuum” (p. 137). Thus, the terms such as tax management; tax planning; tax sheltering; and tax aggressiveness are interchangeably used with tax avoidance in the literature (see for insta

17、nce: Chen et al. 2010; Lanis 2012; Minnick Tang residual book-tax gap and tax-effect book-tax gap. The second group has to do with those constructs that measure the proportional amount of taxes to business income. The

18、se include effective tax rates (this comes in several variants like accounting ETR; current ETR; cash ETR; long-run cash ETR; ETR differential; ratio of income tax expense to operating cash flow; and ratio of cash taxes

19、paid to operating cash flow). The third group involves other measures such as discretionary permanent differences (PERMIDIFF)/DTAX; unrecognized tax benefits (UTB); and tax shelter estimates.Despite this plethora of meas