Determinants of the variability of corporate effective tax rates : evidence from Greece

• Κύριος συγγραφέας: Μουρίκης, Ιωάννης
• Άλλοι συγγραφείς: Τζελέπης, Δημήτριος
• Μορφή: Thesis
• Γλώσσα: English
• Έκδοση: 2017
• Θέματα: Effective tax rate; Firm size; Profitability; Leverage; Capital intensity; Corporate tax system; Αποτελεσματικός φορολογικός συντελεστής; Μέγεθος επιχείρησης; Κερδοφορία; Μόχλευση; Κεφαλαιακή ένταση; Εταιρικό φορολογικό σύστημα; 336.207

In this dissertation, we examine the determinants of the effective tax rate (ETR) of Greek firms. The corporate effective tax rate plays a worthwhile role in fiscal and tax policies for companies and analysts. One of the most important issues in tax field, is to determine effective tax rates. The basic aim of this assignment is to study the relationship between the effective tax rate and the firm size, profitability, financial leverage, inventory intensity and capital intensity. One ETR measure is based on income before taxes and another ETR measure is based on operating cash flows. We select a panel data set of 4213 Greek non-financial firms over the period 2006-2015. The data are panel. We estimate our regression model by OLS, fixed effects and random effects. The results show that more profitable and larger firms have higher effective tax rates and the more leveraged and capital intensive companies have lower ETRs. The only variable that appears to be statistically insignificant is inventory intensity. The findings have broad implications for further academic research, as well as for current policy debates about reforming the corporate tax system.