Do chairmen with China's Great Famine experience in early‐life affect firm tax avoidance activities?

Siying Yang, Dawei Feng and Junbing Xu

Review of Development Economics, 2023, vol. 27, issue 4, 2214-2247

Abstract: This article investigates whether and how chairmen with China's Great Famine experience affect firm tax avoidance activities. We find that the chairmen who experienced China's Great Famine in early‐life engage in fewer tax avoidance activities than other chairmen. This effect is stronger for firms in regions with a weak gambling culture and provinces with higher political uncertainty, nonstate‐owned firms, and chairmen with higher education. We show that a lower‐level risk appetite among chairmen is the primary mechanism driving lower tax avoidance in their firms. Our article provides new insights into the differences in tax avoidance between firms based on whether managers experienced the Great Famine.

Date: 2023
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