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| Título: | Tax avoidance and the cost of debt for SMEs: Evidence from Spain |
| Fecha de publicación: | 2023 |
| Cita bibliográfica: | Journal of Contemporary Accounting and Economics |
| ISSN: | 1815-5669 |
| Palabras clave: | Tax Avoidance Debt cost Banks SMEs |
| Resumen: | We investigate the effect of tax avoidance on the cost of debt for SMEs. Tax avoidance may increase a firm’s cash flows on one hand, but also increase the agency costs, the information risk, and the risk of scrutiny by tax authorities on the other, affecting the cost of debt in opposing ways. Using a sample of Spanish SMEs for the period 2007-2019, our findings show that tax-avoiding SMEs face lower debt costs, suggesting that the positive effects of tax avoidance prevail over the negative ones for SMEs. This finding is consistent with a more favourable assessment of SMEs’ tax avoidance activities by their key finance providers (banks), given SME unique characteristics and their lower agency costs. |
| Autor/es principal/es: | Sánchez Ballesta, Juan Pedro Yagüe, José |
| Facultad/Departamentos/Servicios: | Facultades, Departamentos, Servicios y Escuelas::Departamentos de la UMU::Organización de Empresas y Finanzas |
| URI: | http://hdl.handle.net/10201/136805 |
| DOI: | https://doi.org/10.1016/j.jcae.2023.100362 |
| Tipo de documento: | info:eu-repo/semantics/article |
| Número páginas / Extensión: | 14 |
| Derechos: | info:eu-repo/semantics/openAccess Attribution-NonCommercial-NoDerivatives 4.0 Internacional |
| Descripción: | ©2023. This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/ This document is the Published version of a Published Work that appeared in final form in Journal of Contemporary Accounting and Economics. To access the final edited and published work see https://doi.org/10.1016/j.jcae.2023.100362 |
| Aparece en las colecciones: | Artículos: Organización de Empresas y Finanzas |
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| Fichero | Descripción | Tamaño | Formato | |
|---|---|---|---|---|
| Tax avoidance and the cost.pdf | 337,89 kB | Adobe PDF |  Visualizar/Abrir |
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