Tax avoidance, corporate governance, and corporate social responsibility: the case of the Egyptian capital market

Tarek Mohamed Hassan AbdelFattah, Ahmed Aboud

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    Abstract

    This paper examines the relationship between tax avoidance, corporate governance, and corporate social responsibility (CSR) disclosure. It also investigates the effect of CSR on stock market returns. Using a sample of Egyptian firms for the period 2007–2016, we provide robust new evidence that corporate tax avoidance is positively associated with CSR disclosure. We find evidence that businesses with a more sophisticated board of directors, measured by the presence of family or foreign members, provide more CSR disclosure. Finally, the findings of this study indicate that firms making higher CSR disclosures have greater stock returns, suggesting that CSR is value-enhancing. These findings have important implications for capital markets’ users and policymaker in emerging economies.
    Original languageEnglish
    JournalJournal of International Accounting, Auditing and Taxation
    Early online date27 Feb 2020
    DOIs
    Publication statusEarly online - 27 Feb 2020

    Keywords

    • Corporate Social Responsibility
    • Tax avoidance
    • Corporate Governance
    • Egypt

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