{"id":"https://openalex.org/W4392560034","doi":"https://doi.org/10.1111/jbfa.12795","title":"Tax enforcement and corporate cash holdings","display_name":"Tax enforcement and corporate cash holdings","publication_year":2024,"publication_date":"2024-03-06","ids":{"openalex":"https://openalex.org/W4392560034","doi":"https://doi.org/10.1111/jbfa.12795"},"language":"en","primary_location":{"id":"doi:10.1111/jbfa.12795","doi":"https://doi.org/10.1111/jbfa.12795","is_oa":true,"landing_page_url":"https://doi.org/10.1111/jbfa.12795","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/jbfa.12795","source":{"id":"https://openalex.org/S48254654","display_name":"Journal of Business Finance &amp Accounting","issn_l":"0306-686X","issn":["0306-686X","1468-5957"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-2","jufo-2","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Business Finance & Accounting","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"bronze","oa_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/jbfa.12795","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5075914285","display_name":"Jiaren Pang","orcid":"https://orcid.org/0000-0001-5608-327X","observed_orcids":["https://orcid.org/0000-0001-5608-327X"]},"institutions":[{"id":"https://openalex.org/I99065089","display_name":"Tsinghua University","ror":"https://ror.org/03cve4549","country_code":"CN","type":"education","lineage":["https://openalex.org/I99065089"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Jiaren Pang","raw_affiliation_strings":["School of Economics and Management, Tsinghua University, Beijing, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Economics and Management, Tsinghua University, Beijing, China","institution_ids":["https://openalex.org/I99065089"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5000540368","display_name":"Kun Wang","orcid":"https://orcid.org/0000-0002-1973-670X","observed_orcids":["https://orcid.org/0000-0002-1973-670X"]},"institutions":[{"id":"https://openalex.org/I99065089","display_name":"Tsinghua University","ror":"https://ror.org/03cve4549","country_code":"CN","type":"education","lineage":["https://openalex.org/I99065089"]}],"countries":["CN"],"is_corresponding":true,"raw_author_name":"Kun Wang","raw_affiliation_strings":["School of Economics and Management, Tsinghua University, Beijing, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Economics and Management, Tsinghua University, Beijing, China","institution_ids":["https://openalex.org/I99065089"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5048002787","display_name":"Le Zhao","orcid":"https://orcid.org/0000-0002-6319-1233","observed_orcids":["https://orcid.org/0000-0002-6319-1233"]},"institutions":[{"id":"https://openalex.org/I205237279","display_name":"Nankai University","ror":"https://ror.org/01y1kjr75","country_code":"CN","type":"education","lineage":["https://openalex.org/I205237279"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Le Zhao","raw_affiliation_strings":["Business School, Nankai University, Tianjin, China"],"raw_orcid":"https://orcid.org/0000-0002-6319-1233","affiliations":[{"raw_affiliation_string":"Business School, Nankai University, Tianjin, China","institution_ids":["https://openalex.org/I205237279"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5000540368"],"corresponding_institution_ids":["https://openalex.org/I99065089"],"apc_list":{"value":3620,"currency":"USD","value_usd":3620},"apc_paid":null,"fwci":16.8375,"has_fulltext":true,"cited_by_count":17,"citation_normalized_percentile":{"value":0.98908292,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":97,"max":99},"biblio":{"volume":"51","issue":"9-10","first_page":"2737","last_page":"2762"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.8047000169754028,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.8047000169754028,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11508","display_name":"Corporate Taxation and Avoidance","score":0.16850000619888306,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12544","display_name":"Working Capital and Financial Performance","score":0.00559999980032444,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/tax-enforcement","display_name":"tax enforcement","score":0.9980000257492065},{"id":"https://openalex.org/keywords/corporate-cash-holdings","display_name":"cash holdings","score":0.9959999918937683},{"id":"https://openalex.org/keywords/financial-constraints","display_name":"financial constraints","score":0.7739999890327454},{"id":"https://openalex.org/keywords/capital-expenditure","display_name":"capital expenditure","score":0.7160000205039978},{"id":"https://openalex.org/keywords/dividend-payout","display_name":"dividend payout","score":0.8500000238418579},{"id":"https://openalex.org/keywords/tax-uncertainty","display_name":"tax uncertainty","score":0.5289999842643738},{"id":"https://openalex.org/keywords/china","display_name":"China","score":0.42100000381469727}],"concepts":[{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6446164846420288},{"id":"https://openalex.org/C2779777834","wikidata":"https://www.wikidata.org/wiki/Q4202277","display_name":"Enforcement","level":2,"score":0.6246225237846375},{"id":"https://openalex.org/C2779836051","wikidata":"https://www.wikidata.org/wiki/Q645011","display_name":"Corporate tax","level":4,"score":0.5060531497001648},{"id":"https://openalex.org/C2778083465","wikidata":"https://www.wikidata.org/wiki/Q693464","display_name":"Cash","level":2,"score":0.5014631748199463},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.39744842052459717},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.37980401515960693},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.3763294219970703},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.32527729868888855},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.30248504877090454},{"id":"https://openalex.org/C514942387","wikidata":"https://www.wikidata.org/wiki/Q329303","display_name":"Tax avoidance","level":3,"score":0.23367050290107727},{"id":"https://openalex.org/C51303962","wikidata":"https://www.wikidata.org/wiki/Q1242836","display_name":"Double taxation","level":2,"score":0.1881762146949768},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.04444330930709839},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1111/jbfa.12795","doi":"https://doi.org/10.1111/jbfa.12795","is_oa":true,"landing_page_url":"https://doi.org/10.1111/jbfa.12795","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/jbfa.12795","source":{"id":"https://openalex.org/S48254654","display_name":"Journal of Business Finance &amp Accounting","issn_l":"0306-686X","issn":["0306-686X","1468-5957"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-2","jufo-2","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Business Finance & Accounting","raw_type":"journal-article"}],"best_oa_location":{"id":"doi:10.1111/jbfa.12795","doi":"https://doi.org/10.1111/jbfa.12795","is_oa":true,"landing_page_url":"https://doi.org/10.1111/jbfa.12795","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/jbfa.12795","source":{"id":"https://openalex.org/S48254654","display_name":"Journal of Business Finance &amp Accounting","issn_l":"0306-686X","issn":["0306-686X","1468-5957"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-2","jufo-2","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Business Finance & Accounting","raw_type":"journal-article"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/16","display_name":"Peace, justice, and strong institutions","score":0.6601999998092651}],"study_designs":[],"awards":[],"funders":[{"id":"https://openalex.org/F4320322392","display_name":"Tsinghua University","ror":"https://ror.org/03cve4549"},{"id":"https://openalex.org/F4320327281","display_name":"Jilin Office of Philosophy and Social Science","ror":"https://ror.org/02y7tmn58"}],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4392560034.pdf","grobid_xml":"https://content.openalex.org/works/W4392560034.grobid-xml"},"referenced_works_count":53,"referenced_works":["https://openalex.org/W1571088562","https://openalex.org/W1823790567","https://openalex.org/W1991428446","https://openalex.org/W2003029250","https://openalex.org/W2007155646","https://openalex.org/W2021026264","https://openalex.org/W2123908125","https://openalex.org/W2124115302","https://openalex.org/W2140037540","https://openalex.org/W2313819453","https://openalex.org/W2522909199","https://openalex.org/W2525127984","https://openalex.org/W2791859701","https://openalex.org/W2802423796","https://openalex.org/W2804457173","https://openalex.org/W2890683563","https://openalex.org/W2901434692","https://openalex.org/W2942870997","https://openalex.org/W2979586175","https://openalex.org/W2999856953","https://openalex.org/W3005990175","https://openalex.org/W3022537438","https://openalex.org/W3033959774","https://openalex.org/W3049697420","https://openalex.org/W3112066496","https://openalex.org/W3113269512","https://openalex.org/W3121243554","https://openalex.org/W3121720731","https://openalex.org/W3121786372","https://openalex.org/W3122136533","https://openalex.org/W3122349187","https://openalex.org/W3123024198","https://openalex.org/W3123401819","https://openalex.org/W3123748565","https://openalex.org/W3123831793","https://openalex.org/W3123872135","https://openalex.org/W3124063746","https://openalex.org/W3124200261","https://openalex.org/W3125140669","https://openalex.org/W3125268720","https://openalex.org/W3125353045","https://openalex.org/W3125665227","https://openalex.org/W3129013071","https://openalex.org/W3139222136","https://openalex.org/W3176561552","https://openalex.org/W3181500699","https://openalex.org/W3196836501","https://openalex.org/W3200364680","https://openalex.org/W3202354178","https://openalex.org/W4283387379","https://openalex.org/W4297021162","https://openalex.org/W4376623766","https://openalex.org/W4387380276"],"related_works":["https://openalex.org/W7151525013","https://openalex.org/W7111133738","https://openalex.org/W4411989796","https://openalex.org/W4205538445","https://openalex.org/W7124894097","https://openalex.org/W4221072814","https://openalex.org/W4378189104","https://openalex.org/W4376869013","https://openalex.org/W7154308970","https://openalex.org/W4414911737"],"abstract_inverted_index":{"Abstract":[0],"Strengthened":[1],"tax":[2,7,26,30,55,79,83],"enforcement":[3,31,56,84],"increases":[4,29,85],"firms\u2019":[5,86],"expected":[6],"liabilities":[8],"and":[9,72,94,98,115],"uncertainty;":[10],"thus,":[11],"firms":[12,71],"have":[13],"incentives":[14],"to":[15,45,88,106],"hold":[16],"more":[17],"cash.":[18],"Considering":[19],"the":[20,42,47,107],"staggered":[21],"implementation":[22],"of":[23],"a":[24,37],"new":[25],"system":[27],"that":[28,53],"across":[32],"provinces":[33],"in":[34,75],"China":[35],"as":[36],"quasi\u2010natural":[38],"experiment,":[39],"we":[40],"employ":[41],"difference\u2010in\u2010differences":[43,109],"method":[44],"test":[46],"above":[48],"prediction.":[49],"The":[50,101],"results":[51],"indicate":[52],"stricter":[54],"is":[57,66],"associated":[58],"with":[59,77],"greater":[60],"corporate":[61],"cash":[62,90,92,112],"holdings.":[63],"This":[64],"effect":[65],"stronger":[67],"for":[68],"financially":[69],"constrained":[70],"those":[73],"located":[74],"areas":[76],"high":[78],"noncompliance":[80],"penalties.":[81],"Additionally,":[82],"propensity":[87],"accumulate":[89],"from":[91],"flows":[93],"decreases":[95],"capital":[96],"expenditures":[97],"dividend":[99],"payouts.":[100],"main":[102],"findings":[103],"are":[104],"robust":[105],"stacked":[108],"method,":[110],"alternative":[111],"holding":[113],"measures":[114],"different":[116],"sample":[117],"selections.":[118]},"counts_by_year":[{"year":2026,"cited_by_count":8},{"year":2025,"cited_by_count":4},{"year":2024,"cited_by_count":5}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2024-03-08T00:00:00"}