Research On The Influence Of Media Sport On Corporate Tax Avoidance

Aggressive taxation is the result of a company’s management’s decision to weigh benefits and costs.Illegal or unreasonable tax avoidance by management will not only damage public finances,but also often accompany management’s misappropriation of interests,such as insider trading,on-the-job consumption,etc.,leading to a company agency crisis.On the one hand,the media can play the role of information intermediary to promote the open sharing of information in the capital market and improve investors’ rationality;on the other hand,it can also form a “pegging effect” to guide public opinion and topics,thereby creating a certain reputational pressure on market individuals to guide and regulate their behaviour,and it can be an effective and alternative monitoring mechanism.This paper selects A-share listed companies from 2011 to 2020 as a sample,and uses the number of relevant media reports on the company to describe the degree of media governance.The panel fixed effect model is used to analyze the governance effect of media reports on corporate tax avoidance behaviour.For autocorrelation questions,the propensity matching score method(PSM)is used to test the robustness of the results.This study finds that media reports have a positive supervision effect on corporate tax avoidance,and corporate tax avoidance decisions are more sensitive to online media reports.State-owned enterprises have weakened the supervision efficiency of media;in addition,in economically developed areas,the media can effectively supervise market entities;at the same time,enterprises with high managerial ability are more restrained in tax avoidance under the supervision of the media;according to the law of diminishing marginal effects,and compared with the group with a lower nominal tax rate,companies with a higher nominal tax rate have stronger tax avoidance motives,so the media are more effective in their aggressive tax avoidance behaviour.Finally,based on the research conclusions,the paper puts forward policy suggestions from various stakeholders,including that companies should improve the public opinion receiving port and establish and improve company information disclosure system;relevant tax agencies should pay attention to media governance and try to use the media’s information advantages to optimize their own tax collection work;the company must actively manage reputation and cultivate managerial capabilities,incorporate reputation considerations into the reward,punishment and promotion system,and at the same time form a governance structure in which business decision-making and tax policy powers are concentrated and tilted toward high-capacity managers;the media should establish a high degree of legal and social responsibility awareness,and report events based on the principle of objectivity and fairness.