외국인 투자기업의 특성 및 소유구조가 조세회피에 미치는 영향

Abstract

The main purpose of this study is to analyze empirically the effect of Foreigner Controlled Companies(hereafter FCCs)’s characteristics and ownership structure on tax avoidance in non-financial companies listed on korean stock market and settled accounts in December for 2006∼2009. The method proposed by Desai and Dharmapala(2006) was employed for the proxy variable of enterprise tax avoidance, and industry classification and firm size were applied for that of enterprise characteristics, and major shareholder’s equity rate and foreign ownership rate were applied for that of ownership structure. I analysed the relationship between the variables for enterprise characteristics and ownership structure and the proxy variable for tax avoidance behavior. First, while tax avoidance tendency of FCCs is different from the that of Domestic Controlled Companies(hereafter DCCs) in construction and service sector, tax avoidance tendency of FCCs shows same order with DCCs in manufacturing and distribution sector. Second, FCCs’ size has significantly negative effect on tax avoidance. Third, major shareholder’s equity rate and foreign ownership rate of FCCs have no significant effect on tax avoidance unlike the expectation of the each variable has positive and negative effect on tax avoidance respectively. These findings contribute to provide useful information on understanding the difference of FCCs and DCCs in the effect of enterprise characteristics and ownership structure on tax avoidance. Therefore, I expect that this study will help FCCs to make tax strategy and tax authorities to secure tax revenue. Especially, I suggest that tax authorities will be more careful through further analysis based on this study when making the policy related to tax avoidance.