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The analysis constructs samples by excluding banks, insurers, holding and leasing/property firms, removing missing IFRS consolidated statements, unavailable annual reports, missing audit-fee reporting, absent engagement partners, and cases where pre-tax income is zero or negative. Descriptive statistics and multivariable correlation tables summarize ETR, CurrETR, CashETR and key drivers such as leverage, size, profitability, capital intensity, Big4 affiliation, and auditor tax expertise.",{"@graph":69,"@context":127},[70,84,106],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/2cinfluentialarticlereview-a-study-on-effective-tax-rates-an-auditor-perspective/180162/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/2cinfluentialarticlereview-a-study-on-effective-tax-rates-an-auditor-perspective/180162.png","ImageObject",300,407,{"name":92,"@type":93},"Arica Lee","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-18","2026-09-02",true,{"@type":102,"interactionType":103,"userInteractionCount":105},"InteractionCounter",{"@type":104},"ViewAction",11,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119,123],{"name":110,"@type":111,"acceptedAnswer":112},"How is the study sample of CDAX firm-year observations constructed for 2008–2014?","Question",{"text":113,"@type":114},"The sample is formed from balanced panel availability, then excludes banks, insurance firms, holding companies, leasing and property firms, missing IFRS consolidated financial statements, missing annual reports, unavailable audit fees, absent engagement partners, missing partner tax certification/experience, short fiscal years, and incomplete prior-year observations.","Answer",{"name":116,"@type":111,"acceptedAnswer":117},"Which effective tax rate measures are analyzed?",{"text":118,"@type":114},"The study reports ETR, CurrETR, and CashETR, along with related determinants used to interpret differences in tax burden across firms and periods.",{"name":120,"@type":111,"acceptedAnswer":121},"What variables are included in the descriptive statistics?",{"text":122,"@type":114},"Descriptive statistics cover both tax-rate outcomes and firm/auditor characteristics such as leverage (Lev), size, R&D, profitability (ROA), capital intensity proxies (PPE), cash holdings, exports, intangible assets, Big4 indicator, auditor expertise variables (OverallExpert, TaxExpert), and experience.",{"name":124,"@type":111,"acceptedAnswer":125},"Why are observations with zero or negative pre-tax income excluded?",{"text":126,"@type":114},"They are removed because the study requires valid denominators for calculating effective tax rates (ETR, CurrETR, CashETR), ensuring the tax-rate measures are comparable and computable.","https://schema.org",{"og:url":83,"og:type":129,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":131,"canonical":83},"index,follow",{"doc_id":133,"site_id":62},180162,1788339682,{"code":4,"msg":5,"data":136},{"doc_id":133,"user_id":137,"nickname":92,"user_avatar":138,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":139,"file_id":140,"file_url":141,"file_type":142,"file_size":143,"view_count":105,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":144,"language":145,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":146,"faqs":147,"seo_title":148,"seo_description":67,"update_tm":134,"read_time":149,"preview_page_count":4},8796096645457,"https://ap-avatar.wpscdn.com/avatar/800003749518d68ffe3?x-image-process=image/resize,m_fixed,w_180,h_180&k=1779345340919836971","|  | Companies | Observations |\n| --- | --- | --- |\n\n\n| Potential sample size if panel data for CDAX companies from 2008 to 2014 were balanced | 449 | 3143 |\n| --- | --- | --- |\n| Less: banks, insurance companies, holding companies, leasing and property companies, and financial service firms | (68) | (476) |\n| Less: firm-year observations with no IFRS consolidated financial statements available in Bisnode | (42) | (455) |\n| Less: not available annual reports or missing reported audit fees |  | (35) |\n| Equals: sample of unbalanced firm-year observations used to\u003Cbr>estimate OverallExpert and TaxExpert | 339 | 2177 |\n| Less: firm-year observations with zero or negative pre-tax income for calculating effective tax rates (ETR, CurrETR, CashETR) | (20) | (525) |\n| Less: short fiscal years |  | (8) |\n| Less: missing engagement partners in audit opinions | (7) | (44) |\n| Less: no data availability of engagement partners’ tax certification and auditing experience | (3) | (93) |\n| Less: missing firm-year observations for year t−1 | (2) | (9) |\n| Less: firm-year observations with missing property, plant and equipment for calculating CapitalIntensity and negative Lev | (7) | (16) |\n| Equals: sample of firm-year observations used to estimate Eq. ( 1) | 300 | 1482 |\n\n\n|  | No. of observations | Mean | SD | Min | p 25 | Median | p 75 | Max |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| ETR | 1482 | 0.290 | 0.180 | 0 | 0.213 | 0.289 | 0.338 | 1 |\n| CurrETR | 1482 | 0.305 | 0.211 | 0 | 0.184 | 0.276 | 0.358 | 1 |\n| CashETR | 1482 | 0.286 | 0.231 | 0 | 0.140 | 0.252 | 0.356 | 1 |\n| StB | 1482 | 0.823 | 0.382 | 0 | 1 | 1 | 1 | 1 |\n| R&D | 1482 | 0.020 | 0.037 | 0 | 0 | 0 | 0.028 | 0.341 |\n| Size | 1482 | 20.142 | 2.189 | 14.921 | 18.584 | 19.786 | 21.415 | 26.584 |\n| Lev | 1482 | 1.604 | 1.638 | 0.027 | 0.698 | 1.230 | 2.079 | 27.310 |\n\n\n| PPE | 1482 | 0.422 | 0.195 | 0.001 | 0.283 | 0.395 | 0.566 | 0.997 |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| Cash | 1482 | 0.153 | 0.141 | 0.001 | 0.054 | 0.111 | 0.202 | 0.882 |\n| ROA | 1482 | 0.089 | 0.083 | 0.000 | 0.041 | 0.068 | 0.109 | 1.171 |\n| NOLCF | 1482 | 0.165 | 0.371 | 0 | 0 | 0 | 0 | 1 |\n| Intang\u003Cbr>| 1482 | 0.186 | 0.173 | 0 | 0.047 | 0.127 | 0.286 | 0.743 |\n| Acc | 1482 | − 0.0 30 | 0.082 | − 0.3 06 | − 0.0 65 | − 0.03 3 | − 0.0 01 | 1.235 |\n| Export | 1482 | 0.577 | 0.434 | 0 | 0.231 | 0.560 | 0.826 | 3.143 |\n| Inv | 1482 | 0.129 | 0.114 | 0 | 0.015 | 0.114 | 0.206 | 0.640 |\n| Big4 | 1482 | 0.684 | 0.465 | 0 | 0 | 1 | 1 | 1 |\n| OverallExpert | 1482 | 0.098 | 0.297 | 0 | 0 | 0 | 0 | 1 |\n| TaxExpert | 1482 | 0.088 | 0.283 | 0 | 0 | 0 | 0 | 1 |\n| Experience | 1482 | 1.990 | 0.828 | − 5.2 07 | 1.633 | 2.113 | 2.564 | 3.678 |\n| Taxfee | 1482 | 0.082 | 0.117 | 0 | 0 | 0.023 | 0.133 | 0.730 |\n\n\n|  | (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| (1) ETR |  | 0.60 | 0.46 | − 0. 01 | 0.00 | 0.06 | 0.20 | − 0. 05 | − 0. 02 | − 0. 14 |\n| (2) CurrETR | 0.64 |  | 0.65 | 0.02 | 0.07 | 0.22 | 0.20 | 0.05 | − 0. 08 | − 0. 23 |\n| (3) CashETR | 0.53 | 0.69 |  | 0.02 | 0.07 | 0.28 | 0.24 | 0.09 | − 0. 15 | − 0. 19 |\n| (4) StB | − 0. 02 | 0.03 | 0.02 |  | − 0. 05 | − 0. 04 | 0.00 | − 0. 01 | − 0. 07 | − 0. 02 |\n\n\n| (5) R&D | − 0. 04 | − 0. 04 | − 0. 03 | − 0. 01 |  | 0.12 | − 0. 10 | − 0. 06 | 0.01 | 0.14 |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| (6) Size | 0.05 | 0.14 | 0.17 | − 0. 05 | − 0. 05 |  | 0.50 | 0.34 | − 0. 41 | − 0. 18 |\n| (7) Lev | 0.20 | 0.22 | 0.21 | − 0. 05 | − 0. 14 | 0.33 |  | 0.29 | − 0. 42 | − 0. 41 |\n| (8) PPE | − 0. 03 | 0.05 | 0.07 | − 0. 01 | − 0. 13 | 0.33 | 0.14 |  | − 0. 54 | − 0. 25 |\n| (9) Cash | − 0. 02 | − 0. 08 | − 0. 08 | − 0. 05 | 0.12 | − 0. 38 | − 0. 23 | − 0. 55 |  | 0.30 |\n| (10) ROA | − 0. 18 | − 0. 26 | − 0. 23 | − 0. 01 | 0.09 | − 0. 20 | − 0. 26 | − 0. 24 | 0.39 |  |\n| (11) NOLCF | − 0. 13 | − 0. 11 | − 0. 15 | − 0. 03 | 0.05 |","cbCais6YaoAYIVqB","https://ap.wps.com/l/cbCais6YaoAYIVqB","pdf",615768,41,"English","# Sample construction and data screening\n# Descriptive statistics of variables\n# Correlation analysis among ETR measures and determinants","[{\"question\":\"How is the study sample of CDAX firm-year observations constructed for 2008–2014?\",\"answer\":\"The sample is formed from balanced panel availability, then excludes banks, insurance firms, holding companies, leasing and property firms, missing IFRS consolidated financial statements, missing annual reports, unavailable audit fees, absent engagement partners, missing partner tax certification/experience, short fiscal years, and incomplete prior-year observations.\"},{\"question\":\"Which effective tax rate measures are analyzed?\",\"answer\":\"The study reports ETR, CurrETR, and CashETR, along with related determinants used to interpret differences in tax burden across firms and periods.\"},{\"question\":\"What variables are included in the descriptive statistics?\",\"answer\":\"Descriptive statistics cover both tax-rate outcomes and firm/auditor characteristics such as leverage (Lev), size, R\\u0026D, profitability (ROA), capital intensity proxies (PPE), cash holdings, exports, intangible assets, Big4 indicator, auditor expertise variables (OverallExpert, TaxExpert), and experience.\"},{\"question\":\"Why are observations with zero or negative pre-tax income excluded?\",\"answer\":\"They are removed because the study requires valid denominators for calculating effective tax rates (ETR, CurrETR, CashETR), ensuring the tax-rate measures are comparable and computable.\"}]","2C+Influential+Article+Review - A Study on Effective Tax Rates - An Auditor Perspective | PDF",103]