University of Oulu

Tomas Hjelström, Juha-Pekka Kallunki, Henrik Nilsson & Milda Tylaite (2020) Executives’ Personal Tax Behavior and Corporate Tax Avoidance Consistency, European Accounting Review, 29:3, 493-520, DOI: 10.1080/09638180.2019.1642222

Executives’ personal tax behavior and corporate tax avoidance consistency

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Author: Hjelström, Tomas1; Kallunki, Juha-Pekka1,2,3; Nilsson, Henrik1;
Organizations: 1Department of Accounting, Stockholm School of Economics, Stockholm, Sweden
2Department of Accounting,University of Oulu, Oulu, Finland
3Department of Accounting, Aalto University School of Business, Helsinki, Finland
Format: article
Version: accepted version
Access: open
Online Access: PDF Full Text (PDF, 0.6 MB)
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Language: English
Published: Informa, 2020
Publish Date: 2021-02-11


We analyze executives’ (CEOs, CFOs, and Board Chairpersons) personal tax returns to investigate whether and how their personal tax behavior is associated with the tax avoidance of their firms. We develop various measures of executives’ personal tax behavior that are related to their personal risk propensity, ethics, financial incentives, and awareness of tax planning opportunities and risks. Our empirical results show that CEOs’ and CFOs’ personal tax behavior is related both to nonconforming and conforming corporate tax avoidance. We find no such results for Board Chairpersons.

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Series: European accounting review
ISSN: 0963-8180
ISSN-E: 1468-4497
ISSN-L: 0963-8180
Volume: 29
Issue: 3
Pages: 493 - 520
DOI: 10.1080/09638180.2019.1642222
Type of Publication: A1 Journal article – refereed
Field of Science: 512 Business and management
Funding: This work was supported by the Jan Wallander and Tom Hedelius Foundation [Grant number P2013-0242:1]; Academy of Finland [Project #243017121].
Copyright information: © 2019 European Accounting Association. This is an Accepted Manuscript of an article published by Taylor & Francis in European Accounting Review on 11 Aug 2019, available online: