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Do Natural Disasters Affect Corporate Tax Avoidance? The Case of Drought

Author

Listed:
  • Christofer Adrian

    (Monash University)

  • Mukesh Garg

    (Monash University)

  • Anh Viet Pham

    (University of Newcastle)

  • Soon-Yeow Phang

    (Monash University)

  • Cameron Truong

    (Monash University)

Abstract

Natural disaster events such as drought affect the broader economy and inflict adverse consequences for firms because of spill-over effects in an integrated economy. Contrary to the expectation that firms would engage in higher levels of corporate tax avoidance strategies when they experience a negative cash flow shock, we document consistent evidence that firms engage in less corporate tax avoidance when their headquarter states experience drought. Reduced tax avoidance is more pronounced among firms with higher CSR performance and among firms operating in states that experience a GDP decline. Collectively, the findings of our study demonstrate prosocial and ethical behavior of U.S. firms when they experience natural disaster events.

Suggested Citation

  • Christofer Adrian & Mukesh Garg & Anh Viet Pham & Soon-Yeow Phang & Cameron Truong, 2023. "Do Natural Disasters Affect Corporate Tax Avoidance? The Case of Drought," Journal of Business Ethics, Springer, vol. 186(1), pages 105-135, August.
    • Handle: RePEc:kap:jbuset:v:186:y:2023:i:1:d:10.1007_s10551-022-05250-7
    DOI: 10.1007/s10551-022-05250-7
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    More about this item

    Keywords

    Climate change; Corporate social responsibility; Drought; Ethics; Tax avoidance;
    All these keywords.

    JEL classification:

    • H26 - Public Economics - - Taxation, Subsidies, and Revenue - - - Tax Evasion and Avoidance
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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