Economic Analysis of the Possibility of a Tax on Bank Deposits
Subject Areas : Journal of Investment Knowledge
Khosro
Faghani Makarani
1
(Assistant Professor, Faculty Member of Islamic Azad University of Semnan Branch
Kh.makrani@chmail.ir)
keramat olah
Heydari Rostami
2
(PhD student of Accounting, University of Mazandaran)
Vahid
Amin
3
(faculty member of PNU Tehran)
Keywords: Tax, Deposit, interest, Money, Banking system,
Abstract :
In recent years, the debate over taxes on deposits or it’s profits, each time has been seriously attacked by the newspapers and news agencies. These criticisms and objections, although do not support with the scientific and practical evidences, but official authorities always and quickly deny it. They believe that negative real interest rates on bank deposits in recent years and negative effect of tax on those rates is cause of evasion and movement of funds from the banking system to non-productive markets. This research is based on theoretical analysis; First it informs taxation’s proofs with logical evidences, Then surveys proofs of critics and rejects them. In this paper, We will prove the necessity of being accessible and easier tax on deposits, then we will deny capital and deposits flighting of the banking system. In this research, money is like blood in the body and financial system specially banks is a blood’s circular system and capitals get banks off when money destroy, hoard or go abroad.
* احمدپور،احمد؛ زارع بهنمیری، محمد جواد و حیدری رستمی،کرامت اله.(1393). "بررسی تأثیر ویژگی های شرکت بر ریسک سقوط قیمت سهام(شرکت های پذیرفته شده در بورس اوراق بهادار تهران)"، صص 29-45، فصلنامه بورس اوراق بهادار تهران، شماره 28،دوره هفتم.
* برزگر، قدرت اله. (1392)." مدلی برای افشای مسئولیت اجتماعی و پایندگی شرکت ها و وضعیت موجود آن در شرکت های پذیرفته شده در بورس اوراق بهادار تهران"، رساله دکتری، دانشگاه علامه طباطبایی.
* پورعلی ، محمدرضا و حجامی، محدثه.(1393)." بررسی رابطه بین افشای مسئولیت اجتماعی و مالکیت نهادی در شرکت های پذیرفته شده در بورس اوراق بهادار تهران"، صص 135-150، فصلنامه علمی پژوهشی دانش حسابداری و حسابرسی مدیریت، شماره 10 ، دوره سوم.
* خواجوی، شکراله؛ بایزیدی،انور و جبارزاده کنگرلویی،سعید.(1390)."مدیریت سود و مسئولیت اجتماعی شرکت"، صص 29-59، فصلنامه پیشرفت های حسابداری دانشگاه شیراز، شماره اول،دوره سوم.
* عباسی، ابراهیم؛ شهرتی،علی و قدک فروشان، مریم.(1393)،" بررسی تأثیر محافظه کاری حسابداری بر خطر ریزش قیمت سهام در شرایط عدم تقارن اطلاعاتی در بورس اوراق بهادار تهران"، صص 141-162، مجله دانش حسابداری، شماره 19،دوره پنجم .
* عرب صالحی، مهدی؛ صادقی، غزل و معین الدین، محمود.(1392)." رابطه مسئولیت اجتماعی با عملکرد مالی شرکت های پذیرفته شده دربورس اوراق بهادارتهران"، صص1-20، پژوهش های تجربی حسابداری، شماره نهم، دوره سوم.
* فروغی، داریوش؛ میرزایی، منوچهر و رسائیان، امیر.(1391)."تأثیر فرار مالیاتی بر ریسک سقوط آتی قیمت سهام در شرکت های پذیرفته شده در بورس اوراق بهادار تهران"، صص71-102،فصلنامه پژوهشنامه مالیات، شماره 13 ، دوره 20.
* فولاد، فرزانه؛ یعقوب نژاد، احمد و تالانه، عبدالرضا.(1391)."محافظه کاری و کاهش خطر سقوط قیمت سهم"، صص99-118، فصلنامه بررسی های حسابداری و حسابرسی، شماره سوم، دوره 19.
* مشکی، مهدی و فتاحی،رضا . (1390) ." تأثیر محافظه کاری حسابداری بر ریسک کاهش قیمت سهام" ، صص 119-136، فصلنامه بورس اوراق بهادار،شماره 16،دوره چهارم .
* Andreou, P.C., Antoniou, C., Horton, J., Louca, C., 2012. Corporate Governance and Stock Price Crashes. Working Paper. Cyprus University of Technology and Exeter University Business School.
* Callen, J. L. & X. Fang. (2015).“ Religion and Stock Price Crash Risk”, 169-195, Journal of Financial and Quantitative Analysis,Vol 50,Issue 1-2.
* Carroll, A. B. (1991).“ The pyramid of corporate social responsibility: Toward the moral management of organizational stakeholders”, 39-48,Business Horizons, 34.
* Carroll, A. B. (1999). “ Corporate social responsibility: Evolution of a definitional construct”, 268-295, Business & Society, 38.
* Chatterji, A., Levine, D., Toffel, M., 2009. How well do social ratings actually measure corporate social responsibility? Journal of Economics Management Strategy 18 (1), 125–169.
* Chen, J., Hong, H., Stein, J.C., 2001. Forecasting crashes: trading volume, past returns, and conditional skewness in stock prices. Journal of Financial Economics 61 (3),345–381.
* Crane, A., Matten, D., Spence, L., 2008. Corporate social responsibility: in global context. In: Corporate Social Responsibility: Readings and Cases in Global Context. Routledge, London, pp. 3–20.
* Dhaliwal, D., Li, O., Zhang, A., Yang, Y., 2011. Voluntary nonfinancial disclosure and the cost of equity capital: the initiations of corporate social responsibility reporting. The Accounting Review 86 (1), 59–100.
* Dimson, E., 1979. Risk measurement when shares are subject to infrequent trading. Journal of Financial Economics 7 (2), 197–226.
* El Ghoul, S., Guedhami, O., Kwok, C.C.Y., Mishra, D.R., 2011. Does corporate social responsibility affect the cost of capital? Journal of Banking and Finance 35 (9), 2388–2406.
* Friedman, M. (1970). “The social responsibility of business is to increase its profits” ,122–126,New York Times, September 13.
* Gelb, D., Strawser, J.A.( 2001).“ Corporate social responsibility and financial disclosures: an alternative explanation for increased disclosure” , 1–13, Journal of Business Ethics 33 (1).
* Goss, A., Roberts, G.R., 2011. The impact of corporate social responsibility on the cost of bank loans. Journal of Banking and Finance 35, 1794–1810.
* Harjoto, M.A., Jo, H., 2011. Corporate governance and CSR nexus. Journal of Business Ethics 100 (1), 45–67.
* Hemingway, C., Maclagan, P.( 2004).“ Managers’ personal values as drivers of corporate social responsibility”, 33–44, Journal of Business Ethics 50 (1).
* Hong, H., Stein, J.C., 2003. Differences of opinion, short-sales constraints, and market crashes. Review of Financial Studies 16 (2), 487–525.
* Hutton, A.P.,Marcus, A.J., Tehranian, H., 2009. Opaque financial reports, R2, and crash risk. Journal of Financial Economics 94 (1), 67–86.
* Jin, L., Myers, S.C., 2006. R2 around the world: new theory and new tests. Journal of Financial Economics 79 (2), 257–292.
* Jiao, Y., 2010. Stakeholder welfare and firm value. Journal of Banking and Finance 34, 2549–2561.
* Kim, J.B., Li, Y., Zhang, L., 2011a. Corporate tax avoidance and stock price crash risk: firm-level analysis. Journal of Financial Economics 100 (3), 639– 662.
* Kim, J.B., Li, Y., Zhang, L., 2011b. CFO vs. CEO: equity incentives and crashes. Journal of Financial Economics 101 (3), 713–730.
* Kim, Y., Park, M.S., Wier, B.( 2012).“ Is earnings quality associated with corporate social responsibility?”, 761–796, The Accounting Review 8 (3).
* Kim,Y. Haidan,L.Siqi,L.(2014).“Corporate social responsibility and stock price crash risk”.Journal of Banking & Finance,(43),1-13.
* Lee, D.D., Faff, R.W., 2009. Corporate sustainability performance and idiosyncratic risk: a global perspective. Financial Review 44 (2), 213–237.
* Margolis, J.D., Walsh, J.P., 2001. People and Profits? The Search for a Link between a Company’s Social and Financial Performance. Lawrence Erlbaum Associates, Mahwah, NJ.
* McWilliams, Abagail; Siegel, Donald.(2000).“Corporate social responsibility and financial performance:correlation or misspecification?”, 603-609, Strategic Management Journal, 21 (5).
* Petrovits, C.(2006). “Corporate-sponsored foundations and earnings management”, 335–361,Journal of Accounting and Economics 41 (3).
* Prior, D., Surroca, J., Tribo, J.(2008).“Are socially responsible managers really ethical? Exploring the relationship between earnings management and corporate social responsibility”, 160–177,Corporate Governance 16 (3).
* Roman, R., Hayibor, S., Agle, B., 1999. The relationship between social performance and financial performance. Business and Society 38 (1), 109–125.
* Vassiliki Grougiou.Stergios Leventis.Emmanouil Dedoulis.Stephen owusu-Ansah(2014). “corporate social responsibi lity and earnings management in u.s.banks.accounting Forum”, 1-15.
* Whitehouse, Lisa, (2003), “Corporate social responsibility, corporate citizenship and the global compact: A new approach to regulating corporate social power?”,299–318, Global Social Policy, SAGE Publications (London, Thousand Oaks, ca and New Delhi), vol. 3(3):, [14680181(200312) 3:3; 299–318; 038081]
* Xu, Nianhang , Xiaorong Li, Qingbo Yuan, Kam C. Chan. (2014). “Excess perks and stock price crash risk: Evidence from China”, 419-434, Journal of Corporate Finance 25.
