This study investigates whether the corporate culture of a firm affects its tax shelter behavior. We use a novel machine learning methodology to measure the corporate culture of a firm. Our results show that firms with stronger corporate culture are more likely to have material operations in tax haven countries and the extent of such operations is greater in these firms. The findings also suggest that firms with stronger corporate cultures engage in greater tax avoidance. Our results are robust to the use of both instrumental variables and difference-in-difference identification strategies. Finally, we show that having tax haven operations as a result of stronger corporate culture increases a firm's after-tax earnings in future periods.

中文翻译：

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企业文化会影响避税吗？机器学习方法


本研究调查了公司的企业文化是否会影响其避税行为。我们使用一种新颖的机器学习方法来衡量公司的企业文化。我们的结果表明，具有更强企业文化的公司更有可能在避税天堂国家开展业务，并且这些公司的此类业务范围更大。研究结果还表明，拥有更强大企业文化的公司会进行更大的避税行为。我们的结果对使用工具变量和双重差分识别策略都是稳健的。最后，我们表明，由于更强大的企业文化而拥有避税天堂业务会增加公司未来时期的税后收益。