경영자능력이 조세전략의 지속성에 미치는 효과

초록

[Purpose] This study aims to analyze the effect of managerial ability on the sustainability of corporate tax strategies, specifically examining how managerial ability contributes to the stability and consistency of tax strategies. [Methodology] Managerial ability was measured based on the method of Demerjian et al. (2012), and the sustainability of tax strategy was defined through the volatility of tax avoidance over the past five years. The relationship between tax strategy and managerial ability was analyzed using a fixed－effects model. [Findings] The analysis showed that higher managerial ability leads to reduced volatility in tax strategies, resulting in greater tax strategy sustainability. It was also observed that managers in the KOSPI market tend to maintain more stable tax strategies than those in the KOSDAQ market. [Implications] This study suggests that managerial ability enhances the consistency and predictability of tax strategies, maximizing shareholder value. This finding provides valuable insights for investors when evaluating long－term tax strategies

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