Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2018.1482225
Corporate tax-mix and firm performance. A comprehensive assessment for Romanian listed companies
Sebastian Lazăr
; Faculty of Economics and Business Administration, University Alexandru Ioan Cuza of Iași, Iasi, Romania
Costel Istrate
; Faculty of Economics and Business Administration, University Alexandru Ioan Cuza of Iași, Iasi, Romania
Sažetak
The paper investigates the impact of overall firm-specific tax-mix on
firm performance for Romanian listed companies during the 2000–
2011 period. By overall tax-mix, we mean all public finance-related
liabilities borne by a company, thus including not only profit taxes,
but also non-profit taxes (i.e., real-estate taxes) and labour-related
taxes (social security charges borne by companies). Developed
around the corresponding tax wedge, the variable of interest is a firmspecific
effective tax rate that aggregates all public finance liabilities,
based on a unique set of hand-collected data from publicly available
corporate reports. Using a fixed-effect model, the results show that
one percentage point increase in overall firm-specific tax rate triggers
0.15 percentage points decrease in return on assets. Moreover,
tangibles, leverage and size have a negative effect on Romanian
listed companies’ performance, while liquidity, growth and lagged
profitability have a positive effect.
Ključne riječi
Firm-specific effective tax rate; corporate income tax; non-profit taxes; Labour-related taxes; firm performance
Hrčak ID:
206105
URI
Datum izdavanja:
3.12.2018.
Posjeta: 1.458 *