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公司避稅與金字塔結構
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opaque information environment for accelerating corporate tax avoidance. Second, we
contribute to the parent-subsidiary literature. Prior studies examining tax avoidance
activities have traditionally focused on corporate-level influences (e.g., Rego, 2003). Only
few studies to date examine the characteristics of subsidiaries within a firm (e.g., Dyreng
et al., 2012; Shroff et al., 2014). Our study shows that internal organizational structure of a
pyramidal firm also affect tax avoidance. Third, we contribute to the literature on
corporate pyramids (e.g., Bebchuk et al., 2000; Claessens et al., 2002; La Porta et al.,
1999). The literature on corporate pyramids almost exclusively focuses on the ownership
structure and the agency problem caused by a separation of ultimate owners’ actual
ownership and control in firms located at the lower layer of the pyramidal structure.
Instead, we focus on operational and informational complexity that the long length of
layers results in.