Investigating the Impact of Information Voluntary Disclosure on the Relationship between Tax Aggressiveness and Information Asymmetry

Objective: Voluntary disclosure of information reduces the uncertainty of the information environment, thereby increasing information asymmetry and investor confidence in the management of the company, and businesses that have more Tax aggressiveness activities may increase their disclosure to elimi...

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Autores principales:	Hosein Ameri, Yahya Kamyabi, Esfandiar Malekian Kallebasti
Formato:	article
Lenguaje:	FA
Publicado:	Shahid Bahonar University of Kerman 2021
Materias:	tax aggressiveness information asymmetry voluntary disclosure of information Accounting. Bookkeeping HF5601-5689
Acceso en línea:	https://doaj.org/article/1e9c301cf2b84a4ebb6fd20ba90b128b
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id	oai:doaj.org-article:1e9c301cf2b84a4ebb6fd20ba90b128b
record_format	dspace
institution	DOAJ
collection	DOAJ
language	FA
topic	tax aggressiveness information asymmetry voluntary disclosure of information Accounting. Bookkeeping HF5601-5689
spellingShingle	tax aggressiveness information asymmetry voluntary disclosure of information Accounting. Bookkeeping HF5601-5689 Hosein Ameri Yahya Kamyabi Esfandiar Malekian Kallebasti Investigating the Impact of Information Voluntary Disclosure on the Relationship between Tax Aggressiveness and Information Asymmetry
description	Objective: Voluntary disclosure of information reduces the uncertainty of the information environment, thereby increasing information asymmetry and investor confidence in the management of the company, and businesses that have more Tax aggressiveness activities may increase their disclosure to eliminate information uncertainty and information asymmetry. On the other hand, voluntary disclosure of information can clarify the goals of Tax aggressiveness activities and the motivation for the benefit of individuals within the organization. Agency theory introduces voluntary disclosure as a mechanism to assure managers of stewardship and support for shareholders and may reduce the company's opportunistic behavior and reduce information asymmetry. Accordingly, voluntary disclosure of information is expected to affect the relationship between Tax aggressiveness activities and information asymmetry. In fact, voluntary disclosure quality can prevent management opportunities from pursuing their own personal interests through policies and Tax aggressiveness activities, reducing information asymmetries and thus increasing information transparency. Empirical evidence shows that voluntary disclosure of information can moderate the relationship between Tax aggressiveness activities and information asymmetry. More importantly, disclosure of companies' information has an impact on their analysis and consequently management forecasting and at the same time play an important role in reducing information asymmetry. As a result, Tax aggressiveness policies increase information asymmetry at the company level by ambiguity and complicating the information situation, and then voluntary disclosure can reduce the company's opportunistic behavior and reduce information asymmetry. Therefore, this study aims to examine the moderating effect of voluntary disclosure on the relationship between tax aggressiveness and information asymmetry. Method: This research is an experimental research method of post-event type and is in the category of positivist approaches. Statistically, it is a correlational research and we utilized multivariate linear regression to test research hypotheses. The information collected is based on actual stock market information, financial statements and notes accompanying corporate financial statements.To achieve the purpose of the research, 174 companies listed on the Tehran Stock Exchange during the period 2012-2018 are examined. To test the hypotheses, the method of panel data analysis and multiple linear regression are used. Results: The research findings show that there is a positive and significant relationship between tax aggressiveness and information asymmetry. In addition, these findings indicate that voluntary disclosure of information does not have a significant effect on the relationship between tax aggressiveness and information asymmetry. Conclusion: Tax planning increases the value of the company through tax savings, but if this planning is too aggressiveness, it leads to the downfall of the company and this leads to ineffective communication with shareholders and creditors of the company. In such circumstances, the problems are caused by information asymmetry become more apparent. On the other hand, managers are expected to use voluntary disclosure to reduce the negative effects of complex financial statements and the information environment, But in the case of Iran, due to capital market inefficiencies and limited cases of voluntary disclosure of information by companies, the quality of voluntary disclosure of information is not necessarily sufficient to have a significant impact.
format	article
author	Hosein Ameri Yahya Kamyabi Esfandiar Malekian Kallebasti
author_facet	Hosein Ameri Yahya Kamyabi Esfandiar Malekian Kallebasti
author_sort	Hosein Ameri
title	Investigating the Impact of Information Voluntary Disclosure on the Relationship between Tax Aggressiveness and Information Asymmetry
title_short	Investigating the Impact of Information Voluntary Disclosure on the Relationship between Tax Aggressiveness and Information Asymmetry
title_full	Investigating the Impact of Information Voluntary Disclosure on the Relationship between Tax Aggressiveness and Information Asymmetry
title_fullStr	Investigating the Impact of Information Voluntary Disclosure on the Relationship between Tax Aggressiveness and Information Asymmetry
title_full_unstemmed	Investigating the Impact of Information Voluntary Disclosure on the Relationship between Tax Aggressiveness and Information Asymmetry
title_sort	investigating the impact of information voluntary disclosure on the relationship between tax aggressiveness and information asymmetry
publisher	Shahid Bahonar University of Kerman
publishDate	2021
url	https://doaj.org/article/1e9c301cf2b84a4ebb6fd20ba90b128b
work_keys_str_mv	AT hoseinameri investigatingtheimpactofinformationvoluntarydisclosureontherelationshipbetweentaxaggressivenessandinformationasymmetry AT yahyakamyabi investigatingtheimpactofinformationvoluntarydisclosureontherelationshipbetweentaxaggressivenessandinformationasymmetry AT esfandiarmalekiankallebasti investigatingtheimpactofinformationvoluntarydisclosureontherelationshipbetweentaxaggressivenessandinformationasymmetry
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spelling	oai:doaj.org-article:1e9c301cf2b84a4ebb6fd20ba90b128b2021-11-04T19:57:21ZInvestigating the Impact of Information Voluntary Disclosure on the Relationship between Tax Aggressiveness and Information Asymmetry2008-89142476-292X10.22103/jak.2021.16602.3344https://doaj.org/article/1e9c301cf2b84a4ebb6fd20ba90b128b2021-07-01T00:00:00Zhttps://jak.uk.ac.ir/article_2884_b230fd07ca2b4c557d548b153218be5c.pdfhttps://doaj.org/toc/2008-8914https://doaj.org/toc/2476-292XObjective: Voluntary disclosure of information reduces the uncertainty of the information environment, thereby increasing information asymmetry and investor confidence in the management of the company, and businesses that have more Tax aggressiveness activities may increase their disclosure to eliminate information uncertainty and information asymmetry. On the other hand, voluntary disclosure of information can clarify the goals of Tax aggressiveness activities and the motivation for the benefit of individuals within the organization. Agency theory introduces voluntary disclosure as a mechanism to assure managers of stewardship and support for shareholders and may reduce the company's opportunistic behavior and reduce information asymmetry. Accordingly, voluntary disclosure of information is expected to affect the relationship between Tax aggressiveness activities and information asymmetry. In fact, voluntary disclosure quality can prevent management opportunities from pursuing their own personal interests through policies and Tax aggressiveness activities, reducing information asymmetries and thus increasing information transparency. Empirical evidence shows that voluntary disclosure of information can moderate the relationship between Tax aggressiveness activities and information asymmetry. More importantly, disclosure of companies' information has an impact on their analysis and consequently management forecasting and at the same time play an important role in reducing information asymmetry. As a result, Tax aggressiveness policies increase information asymmetry at the company level by ambiguity and complicating the information situation, and then voluntary disclosure can reduce the company's opportunistic behavior and reduce information asymmetry. Therefore, this study aims to examine the moderating effect of voluntary disclosure on the relationship between tax aggressiveness and information asymmetry. Method: This research is an experimental research method of post-event type and is in the category of positivist approaches. Statistically, it is a correlational research and we utilized multivariate linear regression to test research hypotheses. The information collected is based on actual stock market information, financial statements and notes accompanying corporate financial statements.To achieve the purpose of the research, 174 companies listed on the Tehran Stock Exchange during the period 2012-2018 are examined. To test the hypotheses, the method of panel data analysis and multiple linear regression are used. Results: The research findings show that there is a positive and significant relationship between tax aggressiveness and information asymmetry. In addition, these findings indicate that voluntary disclosure of information does not have a significant effect on the relationship between tax aggressiveness and information asymmetry. Conclusion: Tax planning increases the value of the company through tax savings, but if this planning is too aggressiveness, it leads to the downfall of the company and this leads to ineffective communication with shareholders and creditors of the company. In such circumstances, the problems are caused by information asymmetry become more apparent. On the other hand, managers are expected to use voluntary disclosure to reduce the negative effects of complex financial statements and the information environment, But in the case of Iran, due to capital market inefficiencies and limited cases of voluntary disclosure of information by companies, the quality of voluntary disclosure of information is not necessarily sufficient to have a significant impact.Hosein AmeriYahya KamyabiEsfandiar Malekian KallebastiShahid Bahonar University of Kermanarticletax aggressivenessinformation asymmetryvoluntary disclosure of informationAccounting. BookkeepingHF5601-5689FAمجله دانش حسابداری, Vol 12, Iss 2, Pp 49-65 (2021)

Investigating the Impact of Information Voluntary Disclosure on the Relationship between Tax Aggressiveness and Information Asymmetry

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