Purpose

To the best of the author’s knowledge, the author conducts the first detailed review on the impact of ownership variables on corporate tax avoidance, based on 69 archival studies over the two last decades.

Design/methodology/approach

Referring to an agency-theoretical framework, the author differentiates between six categories of ownership (institutional, state, family, foreign, managerial and cross-ownership/ownership concentration). The author also includes research on ownership proxies as moderators of other determinants of tax avoidance.

Findings

The review indicates that most research refers to institutional, state and family ownership. Moreover, except for state ownership, no clear tendencies on the impact of included ownership types can be found in line with the author’s agency-theoretical framework.

Research limitations/implications

Regarding research recommendations, among others, the author stresses the urgent need for recognizing heterogeneity within and interactions between ownership proxies. Researchers should also properly address endogeneity concerns by advanced econometric models (e.g. by the difference-in-difference approach).

Practical implications

As international standard setters have implemented massive reform initiatives on both tax avoidance and corporate governance, this literature review underlines the huge interaction between those topics. Firms should carefully analyze their ownership structure and change their tax planning due to owners' individual tax preferences.

Originality/value

This analysis makes useful contributions to prior research by focusing on six categories of ownership and their impact on tax avoidance in (multinational) firms and moderating effects. The author provides a detailed overview about current archival research and likes to guide researchers to focus on ownership heterogeneity and endogeneity concerns.

中文翻译：

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所有权结构与公司避税：档案研究的结构化文献综述

目的

据作者所知，作者基于过去 20 年的 69 项档案研究，对所有权变量对企业避税的影响进行了首次详细审查。

设计/方法论/途径

参考代理理论框架，作者区分了六种所有权类型（机构所有权、国家所有权、家庭所有权、外国所有权、管理所有权和交叉所有权/所有权集中）。作者还对所有权代理作为其他避税决定因素的调节因素进行了研究。

发现

审查表明，大多数研究涉及机构、国家和家庭所有权。此外，除了国家所有制之外，没有发现与作者的代理理论框架相符的所有制类型的影响的明显趋势。

研究局限性/影响

关于研究建议等，作者强调迫切需要认识所有权代理内部的异质性和所有权代理之间的相互作用。研究人员还应该通过先进的计量经济学模型（例如双重差分法）正确解决内生性问题。

实际影响

由于国际标准制定者在避税和公司治理方面实施了大规模的改革举措，这篇文献综述强调了这些主题之间的巨大相互作用。企业应仔细分析其所有权结构，并根据所有者的个人税收优惠改变其税收筹划。

原创性/价值

该分析通过关注六类所有权及其对（跨国）公司避税的影响和调节效应，为先前的研究做出了有益的贡献。作者对当前档案研究进行了详细概述，并希望引导研究人员关注所有权异质性和内生性问题。