... work using listed companies from 35 countries and relying on several proxies for corporate tax avoidance activities including the difference between the statutory tax rate and the annual effective tax rate, the book-tax difference and the residual book-tax difference. Findings This study finds...

...; SIZE = Firm size, measured as the log of total assets; ROA = Long-term return of asset, measured as net income over total assets; STA = Binary variable, equal to 1 if it is a state-owned firm, and 0 otherwise; ETR = Annual effective tax rate, measured as tax expenses over pre-tax income...