Studiu privind factorii de influență ai cotei efective de impozitare a profitului
Study on the factors influencing the effective corporate tax rate

Summary/Abstract: The analysis of the companies' effective tax rate has been and continues to be a topic of major importance, both for academic research and for fiscal policy makers. In the paper, the research is focused on the study of the effective rate of corporate tax, based on the results of previous specialized research and developed through empirical analysis using Data Panel model with fixed-effects. The analysis involves 52 companies listed on the New York Stock Exchange (NYSE) for the period between 2010 and 2017. The variables used are variables representing the size (total value of assets), structure, general solvency, stock intensity, structure of fixed assets and share of R&D expenditures in turnover), indebtedness (degree of indebtedness, financial leverage, share of financial debts in total assets) and company performance, such as financial profitability (ROE), economic profitability (ROA) and profitability invested capital (ROIC). The results of empirical studies have shown that variables such as financial leverage (LEV) or stock intensity (ST_ACT) positively influence the dependent variable, while financial performance indicators such as economic profitability (ROA) and financial profitability (ROE) show a contrary trend. Some results are consistent with those obtained by other authors.

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