Master Study: Are Corporate Dividend Policy, Earnings per Share and Share Price Affect Tax Aggressiveness Using Interest Coverage as an Intermediary Variable?
The purpose of this research is to investigate the interaction and the nature of relation between corporate dividend policy, earnings per share and the market price of the stock and planning of the corporate toward tax aggressiveness using interest coverage ratio as an intermediary variable.
Ordinary least square regression model has been applied on panel data, it has been used to examine the required impact and to see how tax aggressiveness is significantly - and in what direction - affected by the management decision (agency theory) toward dividends payout and how the earnings per share and stock market price affect the tax planning in Egypt using a sample of 48 non-financial listed companies for the period of 2012-2019. This research runs three multiple regression models to examine the relationships between research variables. In cross-sectional tests, the statistical results indicate that earnings per share have a positive significant impact on interest coverage, while dividend payout, return on assets, return on equity and gross profit margin have a significant negative relationship with interest coverage.
The findings revealed that also that dividend payout; earnings per share, return on assets and gross profit margin have a positive significant impact on tax aggressiveness, while stock market price and return on equity have a significant negative relationship with tax aggressiveness. Furthermore, it was found that return on assets and gross profit margin have a positive significant impact on tax aggressiveness, while interest coverage and return on equity have a significant negative relationship with tax aggressiveness.
These results are important for investors who are most concern about the financial conditions of firms they are planning to invest in especially in emerging markets like Egypt. Firm’s financial conditions determine the associated risks and, in turn the required rate of returns in terms of dividends payout and the share market price.
Dr. Nevine Sobhy Abdel Megeid, PhD, CMA
Associate Accounting Professor
College of Management and Technology
Arab Academy for Science, Technology and Maritime Transport
رسالة ماجستير عن محاسبة المسئولية وهدف الدراسة بطبيعة العلاقة بين تطبيق محاسبة المسئولية في ظل الرقمنة وتحسين الأداء الاستراتيجي وذلك من خلال دراسة ميدانية بالمؤسسات الحكومية الكويتية.
رسالة دكتوراه عن المرونة المالية وهدف الدراسة اختبار أثر العلاقة التفاعلية بين كلاً من المرونة المالية وإدارة رأس المال العامل على الأداء المالي للشركات المقيدة بالبورصة المصرية.
رسالة دكتوراه عن هيكل الملكية وهدف الدراسة قياس أثر التوسع في هيكل الملكية الأجنبية على تفعيل العلاقة بين سيولة الأسهم وتوقيت إصدار التقارير المالية للشركات المقيدة بالبورصة المصرية.
سجل الدخول لتتمكن من التعليق
في المحاسبين العرب، نتجاوز الأرقام لتقديم آخر الأخبار والتحليلات والمواد العلمية وفرص العمل للمحاسبين في الوطن العربي، وتعزيز مجتمع مستنير ومشارك في قطاع المحاسبة والمراجعة والضرائب.
