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審計人員之產業專精與客戶租稅規避：中國實證研究
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with clients’ tax avoidance, which means bigger audit firms are more likely and capable to
help their clients avoid tax. Besides, the level of corporate tax avoidance is negatively
associated with firm size and return of assets and cash flows of operation and is positively
associated with leverage. The regression results of control variables are basically consistent
with previous studies.
Table 8 examines the association between auditor industry expertise and tax avoidance
conditional on auditor independence. The condition variable auditor independence is
measured by
Fee
and
Tenure
. This study sets two interactive variables
Spec
*
Fee
and
Spec
*
Tenure
to capture the joint effect of auditor industry expertise and auditor
independence. The coefficient on the independent variable (
Spec
) is not significant in most
of these regressions after adding the condition variables (
Fee
and
Tenure
). But the coefficient
of the interaction between auditor industry expertise (
Spec
) and auditor independence (
Fee
and
Tenure
) is negative and statistically significant in Model (1) and (2). This indicates that
the association between auditor industry expertise and clients’ effective tax rate (
BETR
and
Table 8 Association between Auditor Industry Expertise and Tax Avoidance
Conditional on Auditor Independence
Variables
(1)
Tax-avoidance = BETR
(2)
Tax-avoidance = CETR
Spec = IMS Spec = IMS_D Spec = IPS Spec = IPS_D Spec = IMS Spec = IMS_D
Constant
-0.0885***
-0.0823***
-0.0867***
-0.0650***
-0.2118***
-0.1942***
(-4.21)
(-3.98)
(-4.11)
(-3.17)
(-8.97)
(-8.35)
Spec
-0.0479
-0.0100*
-0.0105
-0.0016
-0.0192
-0.0016
(-1.55)
(-1.81)
(-0.83)
(-0.27)
(-0.55)
(-0.26)
Fee
0.0178
0.0154
0.0195
0.0073
0.0056
-0.0024
(1.19)
(1.07)
(1.30)
(0.49)
(0.33)
(-0.15)
Tenure
0.0002
0.0002
0.0005
0.0002
-0.0003
-0.0005
(0.44)
(0.44)
(1.20)
(0.60)
(-0.55)
(-0.97)
Spec*Fee
-0.3572*
-0.0649*
-0.4834**
-0.1176*
-0.5784**
-0.0706
(-1.67)
(-1.71)
(-2.13)
(-1.88)
(-2.26)
(-1.31)
Spec*Tenure
-0.0042
-0.0019*
-0.0117***
-0.0004
-0.0055
-0.0003
(-0.70)
(-1.72)
(-2.89)
(-0.40)
(-0.83)
(-0.21)
Big10
-0.0054**
-0.0058**
-0.0059**
-0.0088***
0.0027
0.0006
(-2.14)
(-2.39)
(-2.37)
(-3.76)
(0.97)
(0.20)
Soe
0.0030
0.0030
0.0030
0.0029
0.0044*
0.0043