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The Effects of IPO on Tax Avoidance: Comparison between KOSPI and KOSDAQ Listed Firms : IPO가 조세절감에 미치는 영향: KOSPI와 KOSDAQ 상장기업들간의 비교를 통하여
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- Authors
- Advisor
- 정운오
- Major
- 경영대학 경영학과
- Issue Date
- 2018-08
- Publisher
- 서울대학교 대학원
- Description
- 학위논문 (석사)-- 서울대학교 대학원 : 경영대학 경영학과, 2018. 8. 정운오.
- Abstract
- Tax is one of the firms main cash outflow which has significant influence over firm value. Firms could save cash by using tax planning. However, firms should consider non-tax costs. This study investigates the effect of IPO on Tax Avoidance. Since after IPO the financial reporting cost and agency cost will increase relative to tax cost. This paper tests the hypothesis that firms will decrease tax avoidance after IPO. Empirical results support they hypothesis. Furthermore, since the more efficient monitoring system in KOSPI rather than KOSDAQ, the negative effect of tax avoidance on firms value will be diminished.
- Language
- English
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