Shahid Bahonar University of Kerman

 Statistics

Number of Journals26
Number of Issues447
Number of Articles4,563
Article View5,389,768
PDF Download3,592,574
Ameri, H., Kamyabi, Y., Malekian Kallebasti, E. (2021). Investigating the Impact of Information Voluntary Disclosure on the Relationship between Tax Aggressiveness and Information Asymmetry. , 12(2), 49-65. doi: 10.22103/jak.2021.16602.3344
Hosein Ameri; Yahya Kamyabi; Esfandiar Malekian Kallebasti. "Investigating the Impact of Information Voluntary Disclosure on the Relationship between Tax Aggressiveness and Information Asymmetry". , 12, 2, 2021, 49-65. doi: 10.22103/jak.2021.16602.3344
Ameri, H., Kamyabi, Y., Malekian Kallebasti, E. (2021). 'Investigating the Impact of Information Voluntary Disclosure on the Relationship between Tax Aggressiveness and Information Asymmetry', , 12(2), pp. 49-65. doi: 10.22103/jak.2021.16602.3344
Ameri, H., Kamyabi, Y., Malekian Kallebasti, E. Investigating the Impact of Information Voluntary Disclosure on the Relationship between Tax Aggressiveness and Information Asymmetry. , 2021; 12(2): 49-65. doi: 10.22103/jak.2021.16602.3344

Investigating the Impact of Information Voluntary Disclosure on the Relationship between Tax Aggressiveness and Information Asymmetry

مجله دانش حسابداری
Article 3, Volume 12, Issue 2 - Serial Number 45, July 2021, Pages 49-65    PDF (1001.13 K)
Document Type: Research Paper
DOI: 10.22103/jak.2021.16602.3344
Authors
Hosein Ameri* 1; Yahya Kamyabi2; Esfandiar Malekian Kallebasti3
1PhD Student of Accounting, Mazandaran University, Babolsar, Iran.
2Associate Professor of Accounting, Mazandaran University, Babolsar, Iran.
3Professor of Accounting, Mazandaran University, Babolsar, Iran.
Abstract
Objective: Voluntary disclosure of information reduces the uncertainty of the information environment, thereby increasing information asymmetry and investor confidence in the management of the company, and businesses that have more Tax aggressiveness activities may increase their disclosure to eliminate information uncertainty and information asymmetry. On the other hand, voluntary disclosure of information can clarify the goals of Tax aggressiveness activities and the motivation for the benefit of individuals within the organization. Agency theory introduces voluntary disclosure as a mechanism to assure managers of stewardship and support for shareholders and may reduce the company's opportunistic behavior and reduce information asymmetry. Accordingly, voluntary disclosure of information is expected to affect the relationship between Tax aggressiveness activities and information asymmetry. In fact, voluntary disclosure quality can prevent management opportunities from pursuing their own personal interests through policies and Tax aggressiveness activities, reducing information asymmetries and thus increasing information transparency. Empirical evidence shows that voluntary disclosure of information can moderate the relationship between Tax aggressiveness activities and information asymmetry. More importantly, disclosure of companies' information has an impact on their analysis and consequently management forecasting and at the same time play an important role in reducing information asymmetry. As a result, Tax aggressiveness policies increase information asymmetry at the company level by ambiguity and complicating the information situation, and then voluntary disclosure can reduce the company's opportunistic behavior and reduce information asymmetry. Therefore, this study aims to examine the moderating effect of voluntary disclosure on the relationship between tax aggressiveness and information asymmetry.
 
Method: This research is an experimental research method of post-event type and is in the category of positivist approaches. Statistically, it is a correlational research and we utilized multivariate linear regression to test research hypotheses. The information collected is based on actual stock market information, financial statements and notes accompanying corporate financial statements.To achieve the purpose of the research, 174 companies listed on the Tehran Stock Exchange during the period 2012-2018 are examined. To test the hypotheses, the method of panel data analysis and multiple linear regression are used.
 
Results: The research findings show that there is a positive and significant relationship between tax aggressiveness and information asymmetry. In addition, these findings indicate that voluntary disclosure of information does not have a significant effect on the relationship between tax aggressiveness and information asymmetry.
 
Conclusion: Tax planning increases the value of the company through tax savings, but if this planning is too aggressiveness, it leads to the downfall of the company and this leads to ineffective communication with shareholders and creditors of the company. In such circumstances, the problems are caused by information asymmetry become more apparent. On the other hand, managers are expected to use voluntary disclosure to reduce the negative effects of complex financial statements and the information environment, But in the case of Iran, due to capital market inefficiencies and limited cases of voluntary disclosure of information by companies, the quality of voluntary disclosure of information is not necessarily sufficient to have a significant impact.
Keywords
Tax Aggressiveness; Information Asymmetry; Voluntary Disclosure of Information
References

باباجانی، جعفر؛ تحریری، آرش؛ ثقفی، علی؛ بدری، احمد. (1393).رابطه بین عدم تقارن اطلاعاتی و مدیریت سود. پیشرفت‌های حسابداری، 6(2)، 26-1.

بنی‌مهد، بهمن؛ عربی، مهدی ؛ حسن‌پور، شیوا. (1397). پژوهش‌های تجربی و روش‌شناسی در حسابداری، چاپ پنجم، انتشارات ترمه.

پورحیدری، امید؛ فدوی، محمدحسن؛ امینی‌نیا، میثم. (1393). بررسی تأثیر اجتناب از پرداخت مالیات بر شفافیت گزارشگری مالی شرکت‌های پذیرفته‌شده در بورس اوراق بهادار تهران. پژوهشنامه اقتصادی، 14(۵۲)، ۸۵-۶۹.

حسنی القار، مسعود؛ شعری آناقیز، صابر. (1396). بررسی تاثیر توانایی مدیریت بر اجتناب مالیاتی. دانش حسابداری،8(1)، 134-107.

خانی‌معصوم‌آبادی، ذبیح‌الله؛ رجب دری، حسین. (1398). رابطه خوانایی گزارش‌های مالی و سیاست متهورانه مالیاتی با استفاده از سیستم معادلات هم‌زمان. پژوهش‌های حسابداری مالی، ۳۹(۱۱)، ۴۱-۵۴.

خواجوی، شکرالله؛ علی‌زاده طلاتپه، وحید. (1393). بررسی اثرات سطح افشای داوطلبانه بر عدم تقارن اطلاعاتی شرکت‌های پذیرفته شده در بورس اوراق بهادار تهران. مطالعات تجربی حسابداری مالی، 11(42)، 115-89.

رحیمی، علیرضا؛ فروغی، عارف. (1399). بررسی تاثیر اجتناب از پرداخت مالیات بر کارایی سرمایه گذاری. دانش حسابداری، 11(2)، 264-239.

ستایش، محمدحسین؛ کاظم نژاد، مصطفی. (1391).شناسایی و تبیین عوامل مؤثر بر کیفیت افشای اطلاعات شرکت‌های پذیرفته شده در بورس اوراق بهادار تهران. پیشرفت‌هایحسابداری، 4(1)، 79-49.

سپاسی، سحر؛ اعتمادی، حسین؛ اسحاق، محمدرضا. (1395). ارائه مدل رابطه شفافیت و اثربخشی هیئت‌مدیره بر سیاست تقلیل دهنده مالیاتی در توسعه سرمایه‌گذاری. دانش سرمایه‌گذاری،۶(۲۱)، ۲47-۲33.

صالحی، زهرا؛ حیدری، محمدرضا. (1395). الگوی نظام مبادله در اقتصاد اسلامی (با پافشاری بر تقارن اطلاعات). اقتصاد اسلامی، 17(۶۵)، ۱۴۷-۱۱۹.

عبدلی، محمدرضا؛ حق‌نیاز، حسن. (1394). ارزیابی تأثیر شفافیت شرکتی بر سیاست متهورانه مالیاتی در شرکت‌های پذیرفته شده در بورس اوراق بهادار تهران. پژوهشنامه مالیات، 23(26)، 176-165.

قربانی، بهزاد. (1395). تأثیر افشای اختیاری اطلاعات سرمایه فکری بر عدم تقارن اطلاعاتی. دانش حسابداری مالی،3(4)، 188-173.

گجراتی، دامودار. (1386).مبانی اقتصادسنجی، جلد اول، چاپ چهارم، ترجمه حمید ابریشمی، انتشارات دانشگاه تهران.

مکیان، سید نظام‌الدین؛ رئیسی، مهین. (1393). تأثیر حاکمیت شرکتی بر عدم تقارن اطلاعاتی مطالعه موردی: بازار بورس اوراق بهادار تهران. پژوهش‌های اقتصادی (رشد و توسعه پایدار)، 14(۴)، ۲۲-۱.

نقدی، سجاد؛ ابراهیمی کردلر، علی. (1395). تأثیر ویژگی‌های شرکت بر میزان افشای اختیاری در گزارشگری سالانه شرکت‌های پذیرفته‌شده در بورس اوراق بهادار تهران. پژوهش‌های حسابداری مالی، ۸(۲)، ۳۸-۲۵.

References

Abdoli, M.R., HaqNiaz, H. (2015). Assessing the impact of corporate transparency on bold tax policy in companies listed on the Tehran Stock Exchange. Tax Research Journal, 23(26), 165-176 [In Persian].

Babajani, J., Tahrere, A., Sagafe, A., Badri, A. (2014). The relationship between information asymmetry and earnings management. Accounting Advances, 6(2), 1-26 [In Persian].

Balakrishnan, K., Blouin, J.L., Guay, W.R. (2018). Tax aggressiveness and corporate transparency. The Accounting Review, 94(1), 45-69.

Banimahd, B., Arabi, M., Hasanpour, Sh. (2018). Experimental and Methodological Research in Accounting. Fifth Edition, Termeh Publications [In Persian].

Bauer, A.M., Fang, J., Pittman, J., Zhang, Y., Zhao, Y. (2020). How aggressive tax planning facilitates the diversion of corporate resources: Evidence from path analysis. Contemporary Accounting Research, 37(3), 1882-1913.

Chen, Y., Huang, S., Pereira, R., Wang, J. (2011). Corporate tax avoidance and firm opacity. Unpublished Working Paper,University of Missouri.

Cooke, T.E. (1992). The Impact of size, stock market listing and industry type ondisclosure in the annual reports of Japanese listed corporations. Accounting andBusiness Research, 22(87), 229−237.

Desai, M.A., Dharmapala, D. (2006). Corporate tax avoidance and high-powered incentives. Journal of Financial Economics, 79(1), 145-179.

Desai, M.A., Dharmapala, D. (2009). Earnings management, corporate tax shelters, and book-tax alignment. National Tax Journal, 62(1), 169-186.

Dye, R. (1998). Investor sophistication and voluntary disclosure. Review of Accounting Studies, 3(3), 261-87.

Dyreng, S.D., Hanlon, M., Maydew, E.L. (2008). Long-run corporate tax avoidance. The Accounting Review, 83(1), 61-82.

Elyasiani, E., Jia, J. (2008).Institutional ownership stability and BHC performance. Journal of Banking and Finance, 3(2), 1767–1781.

Firth, M. (1979). The impact of size, stock market listing, and auditors on voluntary disclosure in corporate annual reports. Accounting and Business Research, 9(3), 273–280.

Ghorbani, B. (2016). The effect of voluntary disclosure of intellectual capital information on information asymmetry. Journal of Financial Accounting Knowledge, 3(4), 173-188 [In Persian].

Gietzmann, M., Trombetta, M. (2003). Disclosureinteractions: Accounting policy choice and voluntary disclosure effects on the cost of raising outside capital. Accounting & Business Research, 33(3), 187-205.

Guay, W., Samuels, D., Taylor, D. (2016). Guiding through the fog: Financial statement complexity and voluntary disclosure. Journal of Accounting Economics, 62(2-3), 234-269.

Gujarati, D. (2007). Fundamentals of econometrics. Volume One, Fourth Edition, translated by Hamid Abrishami, University of Tehran Press[In Persian].

Haniffa, R.M., Cooke, T.E. (2002). Culture, corporate governance and disclosure in Malaysian corporations. Abacus, 38(3), 317-350.

Heitzman, S., Wasley, C., Zimmerman, J. (2010). The joint effect of materiality thresholds and voluntary disclosure incentives on firms disclosure decisions. Journal of Accounting and Economics, 49(1), 109-132.

Hossain, M., Hammami, H. (2009).Voluntary disclosure in the annual reports of an emerging country: The case of Qatar. Advances in Accounting, 25(1), 255-265.

Hassani Alghar, M., Sheri Anaghiz, S. (2017). Investigating the impact of management ability on tax avoidance. Journal of Accounting Knowledge, 8 (1), 107-134[In Persian].

Khani Masoumeh Abadi, Z., Rajab Dori, H. (2019). Relationship between readability of financial statements and bold tax policy using the simultaneous equation system. Financial Accounting Research, 39(11), 41-54 [In Persian].

Khajavi, Sh. Alizadeh Talatapeh, V. (2014). Investigating the effects of the level of voluntary disclosure on information asymmetry of companies listed on the Tehran Stock Exchange. Empirical Studies in Financial Accounting, 11(42), 89-115 [In Persian].

Lanis, R., Richardson, G. (2011). The effect of board of director composition on corporate tax aggressiveness. Journal of Accounting Public Policy, 30(1), 50-70.

Lennox, C., Lisowsky, P., Pittman, J. (2013).Tax aggressiveness and accounting fraud. Journal of Accounting Research, 51(4), 739-778.

Li, F. (2008).Annual report readability, current earnings, and persistence. Journal of Accounting and Economics, 45(2-3), 221-247.

Makian, S.N., Raisi, M. (2014). The effect of corporate governance on information asymmetry case study: Tehran Stock Exchange. Journal of Economic Research (Sustainable Growth and Development), 14(4), 1-22 [In Persian].

Mensah, B.A. (2012). Association between firm-specific characteristicsand levels of disclosure of financial information of rural banks in the Ashanti region of Ghana. Journal of Applied Finance & Banking, 2(1), 69-92.

Naghdi, S., Ebrahimi Kurdlor, A. (2016). The effect of company characteristics on the rate of voluntary disclosure in the annual reporting of companies listed on the Tehran Stock Exchange. Financial Accounting Research, 8(2), 25-38 [In Persian].

Oats, L., Tuck, P. (2019). Corporate tax avoidance: is tax transparency the solution? Accounting and Business Research, 49(5), 565-583.

Pourheidari, O., Fadave, M.H., Amini Nia, M. (2014). Investigating the effect of tax avoidance on the financial reporting transparency of companies listed on the Tehran Stock Exchange. Journal of Economic Research, 14(52), 69-85 [In Persian].

Rahimi, A., Foroughi, A. (2020). Investigating the Impact of Tax Avoidance on Investment Efficiency. Journal of Accounting Knowledge, 11 (2), 264-239 [In Persian].

Salehi, Z., Heidari, M.R. (2016). Model of exchange system in Islamic economics (with insistence on information symmetry). Islamic Economics, 17(65), 147-119 [In Persian].

Sepasi, S., Etemadi, H., Eshaq, M.R. (2016). Presenting the model of the relationship between transparency and the effectiveness of the board of directors on tax reduction policy in investment development. Investment Knowledge, 6(21), 233-247 [In Persian].

Stayesh, M.H., Kazem Nejad, M. (2012). Identifying and explaining the factors affecting the quality of information disclosure of companies listed on the Tehran Stock Exchange. Accounting Advances, 4(1), 49-79 [In Persian].

Uyar, A. (2011). Firm characteristics and voluntary disclosure of graphs in annual reports of Turkish listed companies. African Journal of Business Management, 5(17), 7651-7657.

Wenzel, M. (2004). An analysis of norm processes in tax compliance. Journal of economic psychology, 25(2), 213-228.

Statistics
Article View: 2,066
PDF Download: 851


Journal management system. designed by sinaweb