세법과 회계기준의 일치성이 조세회피와 투자의 관계에 미치는 영향

The purpose of this study is to examine the moderating effect of Book tax Conformity on whether the increase in cash liquidity secured through tax avoidance and tax avoidance is used for investment of companies. This study therefore set up the BTC(book-tax conformity) as an external factor that affects the relationship between tax avoidance and investment, and empirically analyzed whether there is a moderating effect of BTC on the relationship between tax avoidance and investment based on previous studies that reported the positive relationship between tax avoidance and investment. From 2011 to 2021, a total of 9,227 company-year samples were used for companies listed on the listed markets. The results of the analysis are as follows. in analyzing the moderating effect of BTC on the relationship between tax avoidance and investment considering both internal and external factors of a company, all three different tax avoidance measurements and two BTC measurements showed consistent results. This can be interpreted that there is a consistent increase in investment for companies with low book-tax conformity and high levels of tax avoidance. Previous studies have reported inconsistent results on the relationship between tax avoidance and investment. This study is different in that it established the relationship with investment, considering BTC and presenting empirical evidence that tax avoidance, which is an internal factor of a company, is caused by industrial factors, which are external factors. In addition, there is an academic contribution that it provided a motive for future tax law and accounting standards and subsequent tax and accounting studies related to investment. In addition, there is a policy contribution point that it can be an effective direction for tax policy formulation related to the congruence of tax law and accounting standards in terms of policy to induce investment.