Hasan, Iftekhar; Hoi, Chun Keung; Wu, Qiang; Zhang, Hao - In: Journal of Financial Economics 113 (2014) 1, pp. 109-130
We find that firms with greater tax avoidance incur higher spreads when obtaining bank loans. This finding is robust in … bonds when obtaining debt financing. Overall, these findings indicate that banks perceive tax avoidance as engendering … Accounting Standards Board Interpretation No. 48 and the revelation of past tax sheltering activity. Firms with greater tax …