Extreme Tax Avoidance and Firm Value

Chengcai Xie () and Rui Ge ()
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Chengcai Xie: Shenzhen University, Shenzhen Audencia Financial Technology Institute
Rui Ge: Shenzhen University, Shenzhen Audencia Financial Technology Institute

A chapter in Proceedings of the 2024 6th International Conference on Economic Management and Model Engineering (ICEMME 2024), 2025, pp 61-69 from Springer

Abstract: Abstract This study investigates whether extreme tax avoidance influences firm value. We find that firm values are positively associated with tax avoidance levels when firms under-invest in tax planning. In contrast, they are negatively associated with tax avoidance levels when firms over-invest in tax planning. This finding remains robust when alternative measures of firm value and corporate tax avoidance are used or when the regression model is altered, supporting the notion that extreme tax avoidance impairs firm value.

Keywords: extreme tax avoidance; firm value; asymmetric relationship (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-690-1_8

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DOI: 10.2991/978-94-6463-690-1_8

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