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Does labor unemployment insurance affect corporate tax aggressiveness?

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  • Devos, Erik
  • Rahman, Shofiqur

Abstract

This paper examines the effect of unemployment insurance benefits (UIB) on corporate tax aggressiveness. Given that aggressive tax avoidance is risky and costly for the firm and its employees, we argue that low state UIB increases workers' exposure to unemployment risk and, hence, influences firms' tax strategies. Our results show a positive relation between tax aggressiveness and UIB. We also find that this relation is more pronounced for firms in industries that are more labor-intensive and firms with high financial constraints and less pronounced for firms in industries with high labor bargaining power.

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  • Devos, Erik & Rahman, Shofiqur, 2023. "Does labor unemployment insurance affect corporate tax aggressiveness?," International Review of Financial Analysis, Elsevier, vol. 90(C).
    • Handle: RePEc:eee:finana:v:90:y:2023:i:c:s1057521923004337
    DOI: 10.1016/j.irfa.2023.102917
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    More about this item

    Keywords

    Unemployment risk; Compensating wage differentials; Unemployment insurance benefit; Tax aggressiveness;
    All these keywords.

    JEL classification:

    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J65 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment Insurance; Severance Pay; Plant Closings
    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies

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