Tax avoidance and state ownership — The case of Sweden
研究了同时有私人和国家股东的公司如何决定最优税收策略，发现国有持股增加会提高公司纳税额，但即使国有控股也不会完全消除避税行为。
We propose a simple theoretical model for how a company with both private and state shareholders decides on its optimal tax policy. The model predicts that even in the absence of state shareholding, a company will not always pick a tax policy that minimizes taxes. Conversely, majority state ownership will generally not result in zero tax avoidance. Using panel regressions on the entire population of state-owned as well as publicly listed Swedish companies from 2000–2019, we find that a one standard deviation increase in state ownership increases corporate tax payments by around 14%.