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A Peer-reviewed scientific articles/A1 Journal article (refereed), original research
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Are female CFOs less tax aggressive? Evidence from tax aggressiveness, Journal of American Taxation Association 2 Fall (2014). Francis, Bill; Hasan, Iftekhar; Wu, Qiang; Yan, Meng

Category A Peer-reviewed scientific articles
Sub-category A1 Journal article (refereed), original research
auki Internal authors
All authors as text Francis, Bill; Hasan, Iftekhar; Wu, Qiang; Yan, Meng 
Number of authors
Status Published
Year of publication 2014 
Date 09.05.2014 
Name of article Are female CFOs less tax aggressive? Evidence from tax aggressiveness 
Name of journal Journal of American Taxation Association
Volume of issue 36 
Number of issue 2 Fall 
Pages 171–202 
Abstract This paper investigates the effect of CFO gender on corporate tax aggressiveness. Focusing on firms that experience a male-to-female CFO transition, the paper compares those firms' degree of tax aggressiveness during the pre- and post-transition periods. Using the probability of tax sheltering, the predicted unrecognized tax benefits, and the discretionary permanent book-tax differences to measure tax aggressiveness, we find that female CFOs are associated with less tax aggressiveness as compared to their male counterparts. The main findings are supported by additional tests based on propensity score matching, difference-in-differences tests, and tests with a female-to-male CFO transition sample. Overall, our study establishes CFO gender as an important determinant of tax aggressiveness.
Free text descriptor in English tax aggressiveness, tax avoidance, gender, CFO, risk aversion 
JEL-codes H26; M41; J16 
ISSN / e-ISSN 0198-9073 
auki Internet addresses
Additional information Published: May 2014
Notes BoF DP 16/2014 
Open Access Not open

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