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Chair der Sitzung: Kay Blaufus, Leibniz Universität Hannover
Ort:C 40.255 Seminarraum
50
Präsentationen
Dirty Taxes: Corporate Taxes and Air Pollution
Thilo Ebertseder1,2, Martin Jacob3, Constance Kehne3, Hannes Taubenboeck1,2
1German Aerospace Center; 2German Remote Sensing Data Center (DFD); 3WHU - Otto Beisheim School of Management, Deutschland
In this paper, we examine the effect of corporate taxes on air pollution. We use satellite data to measure air pollution through nitrogen dioxide (NO2) levels at a spatially detailed scale. We identify the relation between taxes and NO2 levels exploiting rich local business tax variation in Germany. We find that a 1% increase in business taxes increases NO2 level by 0.19%. This increase in pollution can be explained by higher taxes preventing firms from innovating and shifting towards cleaner technologies. In cross- sectional tests, we find that the positive tax-NO2 association is stronger when investments are more irreversible, firms are less flexible to adapt, and local industries are rather dirty. Overall, through higher air pollution, corporate taxes appear to have negative welfare consequences beyond the negative effects on investment and resource allocation.
Does Public Tax Sustainability Disclosure Deter Corporate Tax Avoidance? Evidence from GRI 207 Reporting
Marius Weiß1, Inga Hardeck2, Andreas Seebeck3
1Friedrich-Alexander-Universität Erlangen-Nürnberg, Deutschland; 2Universität Duisburg-Essen; 3Constructor University Bremen
We exploit the staggered adoption of GRI 207 by publicly listed firms in the EU to examine the effect of corporate tax sustainability disclosure on firms’ tax avoidance. Using a panel event study regression design, we document that GRI 207 adopters increase their GAAP effective tax rates in the year following the adoption by 2.8 percentage points. Based on innovative machine learning and text mining approaches, we find that this effect is greater for firms whose GRI 207 disclosure shows a more positive tone, which contrasts with suspicions of greenwashing. Moreover, using textual analyses, we show that the content of qualitative tax sustainability disclosure barely changes over time and that many first-time adopters announce to take significant actions following the adoption of GRI 207 such as implementing new tax strategies, tax compliance management systems, and tax reporting mechanisms. Overall, our findings suggest that the implementation of public tax sustainability reporting standards has the potential to deter corporate tax avoidance, which should be of interest for policymakers and standard setters.
