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.
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.
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