The purpose of this paper is to research a possible relationship between corporate tax avoidance with corporate governance characteristics such as board independence, the type of auditing company and the concentration of ownership, and a range of selected financial indicators such as return on capital employed, liquidity, leverage, and company size. For this reason, the analysis was based on quantitative and qualitative data derived from the annual financial reports from a sample of 56 companies listed on the Athens Stock Exchange covering the period 2011 to 2015. As a measure of tax avoidance, the cash effective tax rate was used, while a linear regression model using the random effect method was estimated in order to examine the factors that affect it. The results of the study show that the cash effective tax rate has a statistically significant positive relationship with company size and a significant negative relationship with return on capital employed. All in all, the research shows that Greek large-sized companies show less tax avoidance, whereas in companies with a high return on capital employed the extent of tax avoidance is higher. There was no statistically significant impact of corporate governance variables on tax avoidance.
A plethora of studies have examined the emerging technology of blockchain and its applications in accounting, management, and enterprise resource planning systems (ERPs). Blockchain technology (BT) can change the architecture of today’s ERPs and overcome the limitations of these centralized systems. The aim of this study is twofold. First, this paper defines and analyzes the deployment of an innovative architecture of a Blockchain as an Ecosystem (BaaE) platform proposing a conceptual model of the Triple Entry Accounting (TEA) transforming the current accounting practices. Second, the paper explores the integration of cost management, supply chain, and inventory management on BT providing the significant challenges and benefits and suggesting an agenda for future research. The authors conduct an exploratory qualitative analysis of an extensive body of literature, from 81 journals. The paper’s innovative contribution and primary objective is to explore, address, and employ this emerging BaaE platform technology that could potentially be integrated with TEA. Further, the study examines the theoretical, technical, and business aspects regarding TEA, since there is limited research evidence in this field. Additionally, the study tries to identify the implications of BaaE in the area of cost management, supply chain, and inventory management from an ecosystem perspective. This effort can assist organizations and practitioners in understanding and further examining this emerging technology.
Purpose: The study aims to investigate the level of acceptance and preparation of the Local Administration Organizations regarding the adoption of International Public Sector Accounting Standards (IPSAS) in Greece. Design/Methodology/Approach: In order to accomplish this purpose a survey was realized by addressing a questionnaire to officers and employees of the finance department of 325 municipalities in Greece and to the elected representatives who are responsible for their financial management and reporting. Findings: The results from 58 municipalities that participated in the research show that even though the officers and employees of the finance department of municipalities are not familiar with IPSAS, there is a wide acceptance of the need to implement them. It was also concluded that municipalities in Greece are not prepared for the accounting change and the adoption of IPSAS. Overall, Greece appears to be at a premature stage with delays observed in the implementation of existing enacted reforms. Practical Implications: The study provides useful insights on IPSAS implementation process for all the parties engaged in public administration reform such as regulators, standard setters, institutional organizations as well as to countries that are in process or planning to adopt IPSAS. Originality/value: To the knowledge of the authors this is the first study that has examined in depth the perceptions and attitudes of Local Administration Organizations in Greece regarding IPSAS adoption.
This work is an overview of empirical research of the last decades in the field of deferred taxes, focusing on their value relevance when making business, investment and financing decisions. The majority of research is derived from the Anglo-Saxon area, where the USA Accounting Standard SFAS No.109 is implemented. According to the relevant literature, Deferred Tax Assets, in contrast to Deferred Tax Liabilities, are valued positively by capital markets. Deferred Taxes seem to correlate with Earnings Management and contribute positively to the forecast of future cash flows. An aggressive presentation of taxes in the balance sheet and significant Book-Tax Differences (BTDs) have a negative effect on credit rating and are perceived as a red flag for low quality earnings. The question whether the findings of these surveys can be useful for countries with different tax systems and accounting standards does not seem to have been answered adequately.
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