Corporate Finance and Governance in Firms with Limited Liability: Basic Characteristics

Bērziņš, Jānis; Bøhren, Øyvind; Rydland, Pål

doi:10.2139/ssrn.2294269

Cited by 27 publications

(13 citation statements)

References 41 publications

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“…Berzins, Bøhren, and Rydland (2008), for instance, report that across Europe, over 90% of registered firms are privately held and that they generate four times higher revenues and control twice as many assets as publicly listed firms. Thus, analyzing the tax experience of private firms is of interest in its own right and offers a more comprehensive understanding of corporate tax burdens.…”

Section: Related Literaturementioning

confidence: 99%

Tax Havens and Effective Tax Rates: An Analysis of Private versus Public European Firms

Jaafar

Thornton

2015

The International Journal of Accounting

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We examine the impact of tax-haven operations on the effective corporate tax burdens of publicly listed and privately held firms domiciled in Europe. In particular, we consider how European firms' tax haven operations interact with factors such listing status and home-country tax reporting systems to determine the relative tax burdens of publicly listed and private firms. Our main empirical results show that tax haven operations are associated with lower effective tax rates for both private and public firms, and that the impact of tax havens in lowering effective tax rates is more pronounced for private firms than for public firms. Home country characteristics are also important determinants of effective tax rates for both private and public firms with tax havens. Given that firms use tax havens as tax avoidance mechanism in lowering tax burdens regardless of their listing status, regulatory and tax enforcement bodies should focus on private as well as public firms.JEL Classification: H20, M41

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Section: Related Literaturementioning

confidence: 99%

Tax Havens and Effective Tax Rates: An Analysis of Private versus Public European Firms

Jaafar

Thornton

2015

The International Journal of Accounting

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“…5 The accounting and ownership database are maintained at the Centre for Corporate Governance Research (CCGR) at BI -The Norwegian School of Management. For additional information on the data, see Berzins et al (2008).…”

Section: The Datamentioning

confidence: 99%

“…Signicantly, in Norway, all limited liability rms, listed and non-listed, face an identical accounting and reporting environment. For further information on the nature of the accounting and ownership data employed in this study, see Berzins et al (2008). of the rms in my sample.…”

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Risk Management with Cash and Insurance in Non-Listed Firms

Ehling

2009

SSRN Journal

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“…Most studies (e.g., Lee & Swenson, 2012, Maffini, 2010 focus almost exclusively on public companies, but it is also necessary to consider the tax behaviour of private companies for its dominant role in many European countries. Berzins et al (2008), for example, show that more than 90% of privatelyowned companies are registered throughout Europe and that they produce four times higher revenues and control twice as many assets as publicly listed companies. The analysis of the tax experience of private companies is therefore a very interesting topic to be investigated not only in the field of total tax burden.…”

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confidence: 99%

International Corporate Structuring of Slovak Companies Using Tax Havens

Ištok¹,

Kanderová²,

Krištofík³

et al. 2019

JOC

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Recently a trend has come about of transferring the registered offices of parent companies or their subsidiaries to jurisdictions often marked as tax havens worldwide. This trend can also be seen in Slovakia. Our main aim is to examine the possible links between criteria such as the NACE sector, the jurisdiction category, the size of share capital invested, ownership interests and the number of years from the start of business (company formation) to the year of transferring the registered office to the tax haven, and to justify the tendencies in behaviour from the subsidiaries point of view. The formulation of assumptions is based on the statements of corporate service providers (CSPs), which directly, partially or fully, help companies set up or restructure their international corporate structures by using tax haven jurisdictions. This survey is based on the available database of Slovak companies obtained from the databases of Bisnode Slovakia, ltd. We analysed the available data on 3,483 Slovak companies between 2005-2015 by using both graphical methods and statistical induction methods (mainly Fisher's exact test of independence) of randomly selected data from the entire database. Our results confirm that there is a statistically significant relationship between the jurisdiction category and three parameters: the NACE sector, ownership interests and the share capital. On the other hand, the relationship between the jurisdiction category and the period of transferring of registered office to tax havens has not been statistically confirmed.

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Corporate Finance and Governance in Firms with Limited Liability: Basic Characteristics

Cited by 27 publications

References 41 publications

Tax Havens and Effective Tax Rates: An Analysis of Private versus Public European Firms

Tax Havens and Effective Tax Rates: An Analysis of Private versus Public European Firms

Risk Management with Cash and Insurance in Non-Listed Firms

International Corporate Structuring of Slovak Companies Using Tax Havens

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