The Effect of Tax Planning on Firm Value: A Case Study in Vietnam

• 발행기관: 한국유통과학회
• 저자명: Thu Anh Thi VU Vinh Hoang LE
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 8 No.2, 973~979쪽, 전체 7쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2021.02.28

영문 초록

The purpose of this paper is to examine the effect of tax planning on firm value of the non-financial firms listed in Vietnam, moderated by the state ownership. In this paper, effective tax rate is used to measure the tax planning; the state ownership is measured by the percentage of state equity holdings, and the firm value is measured by Tobin’s Q. The data research is collected from audited financial statements and other statistical documents of 513 firms in the period of 2015-2019, provided by The FiinGroup (Vietnam). According to that, this paper uses quantitative research methods for the panel data. Regression analysis with GLS shows that the tax planning has a negative effect on firm value. In more detail, the association is not a variable in its direction when state ownership takes the role of a moderator. That means, in the perspective of principal-principal conflict, government should improve institutional environment to prevent firms form breaking the rules, especially accounting standards and principles. Assets allocation in tangible assets or making use of large size advantage should be taken into account. In the long run, firms should concentrate on the deployment of resources and the experience of knowledgeable practitioners to produce effective results.

목차

1. Introduction

2. Literature Review and Hypotheses

3. Methodology

4. Results and Discussion

5. Conclusion and Recommendation

키워드

Firm Value State Ownership Tax Planning