| Summary: | 碩士 === 國立東華大學 === 會計與財務碩士學位學程 === 105 === This paper mainly examines the relationship between institutional investors and tax aggressiveness by using a sample of Taiwanese listed firms from 2000-2015, the required data from the Database of the Taiwan Economic Journal (for financial accounting information), and the industrial sustainable development clearinghouse on-line platform (for CSR information). The result shows that firms with more institutional investors are more tax aggressive; then, institutional investors are divided into two categories: domestic institutional investors and foreign institutional investors. The result finds that firms with relatively higher levels of foreign institutional investors are tax aggressive. Finally, this paper examines whether the relationship between institutional investors and tax aggressiveness is moderated by CSR. The results show that moderators are negatively significant to tax aggressiveness in some situations. Overall, the results of this paper find that institutional investors prefer that firms engage in more tax aggressive behavior to increase firm value, especially foreign institutional investors.
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