Responsible Investment : Taxes and Paradoxes
Knuutinen, R., & Pietiläinen, M. (2017). Responsible Investment : Taxes and Paradoxes. Nordic Tax Journal, 1(1), 135-150. https://doi.org/10.1515/ntaxj-2017-0010
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Nordic Tax JournalDate
2017Copyright
© 2017 R. Knuutinen and M. Pietiläinen, published by De Gruyter Open. This work is licensed under the Creative
Commons Attribution-NonCommercial-NoDerivatives 4.0 License.
Taxes have become an issue of corporate social
responsibility (CSR), but the role of taxation is to some
extent an ambiguous and controversial issue in the CSR
framework. Similarly, another unclear question is what
role investors who are committed to sustainable and responsible
investment (SRI) see taxes as having on their environmental,
social, and governance (ESG) agenda. Corporate
taxes have an inverse relationship with the return of
the investors: taxes paid directly affect what is left on the
bottom line, reducing the return of investors. However, investors
are now more aware of tax-related risks, which can
include different forms of reputation risk. Corporate tax
planning may increase the returns, but those increased returns
are riskier. This study focuses particularly on the relationship
between SRI and taxation. We find that tax matters
are considered to be on the ESG agenda, but their role
and significance in the ESG analysis is unclear.
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De Gruyter OpenISSN Search the Publication Forum
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Except where otherwise noted, this item's license is described as © 2017 R. Knuutinen and M. Pietiläinen, published by De Gruyter Open. This work is licensed under the Creative
Commons Attribution-NonCommercial-NoDerivatives 4.0 License.
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