Financial distress, outside directors and corporate tax aggressiveness spanning the global financial crisis: An empirical analysis

Richardson, G; Lanis, R; Taylor, G

Financial distress, outside directors and corporate tax aggressiveness spanning the global financial crisis: An empirical analysis

Richardson, G Lanis, R

Taylor, G

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Publication Type:: Journal Article
Citation:: Journal of Banking and Finance, 2015, 52 pp. 112 - 129
Issue Date:: 2015-03-01

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Field	Value	Language
dc.contributor.author	Richardson, G	en_US
dc.contributor.author	Lanis, R https://orcid.org/0000-0002-1821-8345	en_US
dc.contributor.author	Taylor, G	en_US
dc.date.issued	2015-03-01	en_US
dc.identifier.citation	Journal of Banking and Finance, 2015, 52 pp. 112 - 129	en_US
dc.identifier.issn	0378-4266	en_US
dc.identifier.uri	http://hdl.handle.net/10453/121952
dc.description.abstract	© 2014 Elsevier B.V. We examine financial distress and tax aggressiveness spanning the global financial crisis (GFC) of 2008 and the impact of the interaction between board independence and firm-specific financial distress on tax aggressiveness. Our regression results show that both financial distress and the GFC are positively associated with tax aggressiveness. More importantly, we find that the positive association between financial distress and tax aggressiveness is magnified by the GFC. We also observe that the interaction between board independence and financial distress is positively associated with tax aggressiveness. Our results are robust to multiple measures of financial distress and tax aggressiveness.	en_US
dc.relation.ispartof	Journal of Banking and Finance	en_US
dc.relation.isbasedon	10.1016/j.jbankfin.2014.11.013	en_US
dc.subject.classification	Finance	en_US
dc.title	Financial distress, outside directors and corporate tax aggressiveness spanning the global financial crisis: An empirical analysis	en_US
dc.type	Journal Article
utslib.citation.volume	52	en_US
utslib.for	1502 Banking, Finance and Investment	en_US
utslib.for	1501 Accounting, Auditing and Accountability	en_US
utslib.for	0102 Applied Mathematics	en_US
utslib.for	1401 Economic Theory	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Accounting Discipline
utslib.copyright.status	closed_access
pubs.publication-status	Published	en_US
pubs.volume	52	en_US

Abstract:

© 2014 Elsevier B.V. We examine financial distress and tax aggressiveness spanning the global financial crisis (GFC) of 2008 and the impact of the interaction between board independence and firm-specific financial distress on tax aggressiveness. Our regression results show that both financial distress and the GFC are positively associated with tax aggressiveness. More importantly, we find that the positive association between financial distress and tax aggressiveness is magnified by the GFC. We also observe that the interaction between board independence and financial distress is positively associated with tax aggressiveness. Our results are robust to multiple measures of financial distress and tax aggressiveness.

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http://hdl.handle.net/10453/121952