| Existing studies have shown that moderate tax avoidance can help reduce the burden on enterprises and promote the improvement of enterprise value,but tax avoidance may also damage the reputation and image of enterprises,and seriously damage national interests.focus on.Enterprise risk-taking reflects the company’s tendency to choose investment projects.The choice of an enterprise’s investment project mainly depends on the size of its risk-taking.The greater the risk-taking,the more likely it is to invest in high-risk projects.It helps to promote the development of enterprises and social economy,so most of the literature currently focuses on the influencing factors of risk-taking.Although the research on the economic consequences of risk-taking has been involved,it has not received enough attention.When the enterprise’s risk-taking increases,on the one hand,the enterprise is more likely to increase capital investment in high-risk projects,and more likely to adopt a diversified investment strategy,which will increase the enterprise’s demand for funds.Putting too much capital into high-risk projects will lead to large fluctuations in the performance of enterprises,which may affect the number of loans of enterprises,increase the financing pressure of enterprises,and make it extremely difficult for enterprises to raise funds.Tax avoidance can help enterprises reduce funds from Internal outflow saves costs and reduces the company’s dependence on external funds.Therefore,risk-taking may aggravate the degree of corporate tax avoidance by affecting corporate cash liquidity and corporate credit behavior.Therefore,exploring the relationship between risk-taking and corporate tax avoidance is the study of this paper main problem.This paper examines the relationship between risk taking and corporate tax avoidance.First of all,it expounds the impact of risk-taking on corporate tax avoidance from a theoretical logic,and the moderating role of the two moderating variables of property rights and internal control in the relationship between the two.At the same time,it further analyzes the role of financing constraints in the impact of risk-taking on corporate tax avoidance.mediation.Then,the sample of this paper selects the data of A-share listed companies in Shanghai and Shenzhen from 2008 to2018.The study finds that risk-taking increases the degree of corporate tax avoidance,and this phenomenon is more significant in state-owned enterprises and enterprises with low internal control quality.Further testing It shows that high-risk-taking enterprises are highly dependent on capital and have difficulty in obtaining capital,which leads to higher financing constraints,which in turn leads to an increased degree of tax avoidance.Finally,in the robustness test phase,the main hypothesis is re-tested by using the independent variable risk-taking,independent variable risk-taking and dependent variable company tax avoidance substitution variables,etc.,and the regression results obtained are basically consistent with the original regression results.In response to the research conclusions,this paper puts forward suggestions from the perspectives of enterprises and taxation supervision departments,which play an important role in the stable development of enterprises and countries. |
