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Is Corporate Social Responsibility (CSR) Associated with Tax Avoidance? Evidence from Irresponsible CSR Activities
16 references·16 citing·32 second hopsampled
Is Corporate Social Responsibility (CSR) Associated with Tax Avoidance? Evidence from Irresponsible CSR Activities (2013)Is Corporate Social Responsibility (CSR) …Is Earnings Quality Associated with Corporate Social Responsibility? (2012)Is Earnings Quality Associate…Corporate tax avoidance and stock price crash risk: Firm-level analysis (2011)Corporate tax avoidance and s…The Effects of Executives on Corporate Tax Avoidance (2010)The Effects of Executives on …A review of tax research (2010)A review of tax researchTax Reporting Aggressiveness and Its Relation to Aggressive Financial Reporting (2009)Tax Reporting Aggressiveness …Corporate Tax Avoidance and Firm Value (2009)Corporate Tax Avoidance and F…An Examination of Corporate Tax Shelter Participants (2009)An Examination of Corporate T…Are Family Firms More Tax Aggressive Than Non-Family Firms? (2007)Are Family Firms More Tax Agg…Corporate tax avoidance and high-powered incentives (2005)Corporate tax avoidance and h…Earnings Management through Real Activities Manipulation (2003)Earnings Management through R…Corporate Governance and Equity Prices (2003)Corporate Governance and Equi…Disappearing dividends: changing firm characteristics or lower propensity to pay? (2001)Disappearing dividends: chang…Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)Do Investment-Cash Flow Sensi…Causes and Consequences of Earnings Manipulation: An Analysis of Firms Subject to Enforcement Actions by the SEC* (1996)Causes and Consequences of Ea…Detecting Earnings Management. (1995)Detecting Earnings Management.Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Environmental, Social, and Governance (ESG) disclosure: A literature review (2022)Environmental, Social, and Go…Corporate ESG performance and manager misconduct: Evidence from China (2022)Corporate ESG performance and…Does social capital mitigate agency problems? Evidence from Chief Executive Officer (CEO) compensation (2019)Does social capital mitigate …CORPORATE TAX AVOIDANCE: A LITERATURE REVIEW AND RESEARCH AGENDA (2019)CORPORATE TAX AVOIDANCE: A LI…Perspectives on Corporate Tax Planning: Observations from the Past Decade (2018)Perspectives on Corporate Tax…Market Reaction to Mandatory Nonfinancial Disclosure (2018)Market Reaction to Mandatory …The effects of environmental, social and governance disclosures and performance on firm value: A review of the literature in accounting and finance (2017)The effects of environmental,…Does Social Capital Matter in Corporate Decisions? Evidence from Corporate Tax Avoidance (2016)Does Social Capital Matter in…Corporate Sustainability: First Evidence on Materiality (2016)Corporate Sustainability: Fir…Do Socially Responsible Firms Pay More Taxes? (2015)Do Socially Responsible Firms…Corporate social responsibility, stakeholder risk, and idiosyncratic volatility (2015)Corporate social responsibili…Corporate social responsibility research in accounting (2015)Corporate social responsibili…The Influence of a Firm's Business Strategy on its Tax Aggressiveness (2014)The Influence of a Firm's Bus…Is Corporate Social Responsibility Performance Associated with Tax Avoidance? (2014)Is Corporate Social Responsib…Commitment to social good and insider trading (2014)Commitment to social good and…Beauty is in the eye of the beholder: The effect of corporate tax avoidance on the cost of bank loans (2014)Beauty is in the eye of the b…Earnings Management During Import Relief Investigations (1991)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)The economic implications of corporate financial reporting (2005)Corporate financing and investment decisions when firms have information that investors do not have (1984)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Investor Sentiment and the Cross‐Section of Stock Returns (2006)Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches (2008)When Is a Liability Not a Liability? Textual Analysis, Dictionaries, and 10‐Ks (2011)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The Cross-Section of Expected Stock Returns (1992)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)The Financial Accelerator in a Quantitative Business Cycle Framework (1998)Managing with Style: The Effect of Managers on Firm Policies (2003)New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index (2010)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)Management ownership and market valuation (1988)Long-Run Corporate Tax Avoidance (2008)Performance matched discretionary accrual measures (2005)Real and Accrual-Based Earnings Management in the Pre- and Post-Sarbanes-Oxley Periods (2008)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)How do family ownership, control and management affect firm value? (2005)How does financial reporting quality relate to investment efficiency? (2009)The Impact of Corporate Sustainability on Organizational Processes and Performance (2014)Earnings management and investor protection: an international comparison (2003)CFOs versus CEOs: Equity incentives and crashes (2011)Accounting Conservatism and Stock Price Crash Risk: Firm‐level Evidence (2014)Corporate social responsibility and stock price crash risk (2014)
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References

  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1997Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints?6,790 cited
  • 1995Detecting Earnings Management.6,532 cited
  • 2003Corporate Governance and Equity Prices6,115 cited
  • 2003Earnings Management through Real Activities Manipulation5,422 cited
  • 1996Causes and Consequences of Earnings Manipulation: An Analysis of Firms Subject to Enforcement Actions by the SEC*4,076 cited
  • 2010A review of tax research3,167 cited
  • 2001Disappearing dividends: changing firm characteristics or lower propensity to pay?3,039 cited
  • 2005Corporate tax avoidance and high-powered incentives2,187 cited
  • 2011Corporate tax avoidance and stock price crash risk: Firm-level analysis2,154 cited
  • 2007Are Family Firms More Tax Aggressive Than Non-Family Firms?2,060 cited
  • 2012Is Earnings Quality Associated with Corporate Social Responsibility?2,009 cited
  • 2010The Effects of Executives on Corporate Tax Avoidance1,596 cited
  • 2009Tax Reporting Aggressiveness and Its Relation to Aggressive Financial Reporting1,533 cited
  • 2009Corporate Tax Avoidance and Firm Value1,208 cited

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  • 2009An Examination of Corporate Tax Shelter Participants1,114 cited
  • Cited by

    • 2016Corporate Sustainability: First Evidence on Materiality1,945 cited
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    • 2022Environmental, Social, and Governance (ESG) disclosure: A literature review819 cited
    • 2014Beauty is in the eye of the beholder: The effect of corporate tax avoidance on the cost of bank loans654 cited
    • 2018Market Reaction to Mandatory Nonfinancial Disclosure632 cited
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    • 2022Corporate ESG performance and manager misconduct: Evidence from China448 cited
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    • 2016Does Social Capital Matter in Corporate Decisions? Evidence from Corporate Tax Avoidance412 cited
    • 2014Commitment to social good and insider trading375 cited
    • 2018Perspectives on Corporate Tax Planning: Observations from the Past Decade343 cited
    • 2019Does social capital mitigate agency problems? Evidence from Chief Executive Officer (CEO) compensation325 cited
    • 2019CORPORATE TAX AVOIDANCE: A LITERATURE REVIEW AND RESEARCH AGENDA296 cited
    • 2015Corporate social responsibility, stakeholder risk, and idiosyncratic volatility286 cited