기업지배구조와 소유구조 및 조세회피의 관련성

The Relationship among Corporate Governance, Ownership Structure and Tax Avoidance

This study attempted to examine the relationship among corporate governance, ownership structure and tax avoidance with Korean enterprises listed in the stock market on tax avoidance by the management from 2008 through 2012. Results showed that corporate governance had a significant positive (+) impact on tax avoidance. In addition, a higher proportion of largest shareholders and affiliated persons in an enterprise turned out to have a more significant negative (-) impact on tax avoidance. This is interpreted to mean the higher the proportion of largest shareholders and affiliated persons, the enterprise s tendency toward tax avoidance is less. When the detailed level of corporate governance on tax avoidance-based on ownership structure was examined, it was seen that the level of board of directors had solely a significant positive (+) impact on tax avoidance and a higher proportion of largest shareholders and affiliated persons in an enterprise had a more significant negative (-) impact on tax avoidance. Future researchers conducting studies on corporate governance, tax avoidance and ownership structure through empirical analysis may find useful insights from this study which has implications for corporate governance systems.