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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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Table 10 Association between Newly Defined Auditor Industry Expertise and Tax
Avoidance
Variables
(1)
Tax-avoidance = BETR
(2)
Tax-avoidance = CETR
(3)
Tax-avoidance = BTD
Spec = IMA Spec = IPA Spec = IMA Spec = IPA Spec = IMA Spec = IPA
Constant
-0.0930***
-0.0737***
-0.2166***
-0.1975***
2.2311***
2.0649***
(-4.41)
(-3.37)
(-9.15)
(-8.11)
(6.69)
(6.00)
Spec
-0.0922***
0.0151
-0.0896***
-0.0418***
0.3317
0.5882***
(-3.28)
(1.05)
(-2.83)
(-2.60)
(0.75)
(2.60)
Fee
0.0161
0.0280
0.0025
-0.0926***
0.0593
0.2567
(1.08)
(0.89)
(0.15)
(-2.64)
(0.25)
(0.52)
Tenure
0.0001
0.0005
-0.0006
-0.0005
0.0177**
0.0118*
(0.12)
(1.12)
(-1.20)
(-0.11)
(2.50)
(1.71)
Spec*Fee
-0.3358*
-0.4475*
-0.5085**
-0.4771*
10.6510*** 13.0949***
(-1.67)
(-1.76)
(-2.03)
(-1.68)
(3.03)
(3.29)
Spec*Tenure
0.0003
-0.0105**
-0.0027
-0.0095**
0.0617
0.0094
(0.07)
(-2.58)
(-0.46)
(-2.09)
(0.74)
(0.15)
Big10
-0.0041*
-0.0054**
0.0047
0.0017
0.15473*** 0.1250***
(-1.66)
(-2.09)
(1.64)
(0.57)
(3.87)
(3.06)
Soe
0.0030
0 .0035
0.0044
0.0052*
0.0280
0.0378
(1.24)
(1.43)
(1.63)
(1.89)
(0.74)
(0.97)
Size
0.0095***
0.0083***
0.0176***
0.0166***
0.7008***
0.7093***
(9.69)
(8.26)
(16.06)
(14.76)
(45.47)
(44.77)
Roa
0.0322**
0.0341**
0.0863***
0.0899***
0.2016
0.1730
(2.50)
(2.55)
(5.97)
(6.04)
(0.99)
(0.83)
Lev
-0.0155***
-0.0152***
-0.0415***
-0.0443***
1.5463***
1.5779***
(-2.83)
(-2.67)
(-6.74)
(-6.98)
(17.88)
(17.65)
CFO
0.0421***
0.0435***
0.0154
0.0263*
0.3036
0.2682
(3.45)
(3.42)
(1.12)
(1.85)
(1.58)
(1.35)
Year
Controlled
Controlled
Controlled
Controlled
Controlled
Controlled
Industry
Controlled Controlled Controlled Controlled Controlled Controlled
N
7692
7692
7692
7692
7692
7692
F Value
38.65
36.24
25.34
24.11
128.28
123.81
Adjusted R
2
0.1463
0.1442
0.0997
0.0995
0.3675
0.3708
Note: This table presents the OLS regression results of newly-defined auditor industry expertise on tax
avoidance. We use auditor industry market share based on clients’ assets (
IMA
) and auditor
portfolio share based on clients’ assets (
IPA
) to proxy auditor industry expertise. The sample
includes 7,692 firm-year observations for the period 2008-2012. T-statistics are in the
parentheses. ***, **, * stand for a statistical significant level of 1%, 5%, and 10% respectively.