Family Firm Heterogeneity and Tax Avoidance: The Role of the Founder
研究了家族企业异质性中创始人维度对避税行为的影响，发现创始人即使不担任CEO，仅通过所有权或董事会席位也能影响企业避税水平。
Family business research suggests that the population of family firms cannot be regarded as a homogenous group. Therefore, with respect to tax avoidance, we analyze the role of the founder as one dimension of family firm heterogeneity. Specifically, we consider socioemotional wealth loss aversion and find that founders may affect the level of tax avoidance not only when they have direct influence (i.e., serving as CEO) but also when they possess solely indirect influence (i.e., having substantial ownership or a seat on the board). Overall, our results suggest that founders remain attached to their firms despite giving up executive positions.