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Journals / Sosyoekonomi / 2026 / Cilt: 34 Sayı: 69

Financial Determinants of Tax Avoidance: Evidence from Borsa Istanbul Listed Firms

Vergiden Kaçınmanın Finansal Belirleyicileri: Borsa İstanbul’da İşlem Gören Firmalardan Kanıtlar

Meral Gündüz(UŞAK ÜNİVERSİTESİ, UYGULAMALI BİLİMLER FAKÜLTESİ)0000-0002-9255-091X
Pages
301–318
Publication Date
2026-07-31
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

Using panel data and the PMG-ARDL model, the findings reveal that deferred tax expense, capital intensity, and profitability negatively affect the effective tax rate (ETR), while transfer pricing has a positive and significant impact.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:This study examines the impact of transfer pricing, deferred tax expense, profitability, capital intensity, and leverage on tax avoidance for BIST50 firms in Türkiye from 2014 to 2023.
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Key Findings & Data:Using panel data and the PMG-ARDL model, the findings reveal that deferred tax expense, capital intensity, and profitability negatively affect the effective tax rate (ETR), while transfer pricing has a positive and significant impact.
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Conclusion & Impact:The results indicate that firms use strategic tools like depreciation and R&D to reduce tax burdens, suggesting that tax avoidance is a complex, firm-level issue requiring policy attention.
🔬Design:Modeling & Simulation
📍Scope:2014 Verileri
⚙️Variables:Vergiden Kaçınma · Etkin Vergi Oranı · Ertelenmiş Vergi Giderleri

Abstract

This study examines the impact of transfer pricing, deferred tax expense, profitability, capital intensity, and leverage on tax avoidance for BIST50 firms in Türkiye from 2014 to 2023. Using panel data and the PMG-ARDL model, the findings reveal that deferred tax expense, capital intensity, and profitability negatively affect the effective tax rate (ETR), while transfer pricing has a positive and significant impact. Leverage shows no significant effect. The results indicate that firms use strategic tools like depreciation and R&D to reduce tax burdens, suggesting that tax avoidance is a complex, firm-level issue requiring policy attention.

Özet

Bu çalışma, 2014-2023 yılları arasında Türkiye’de BIST50 endeksindeki şirketlerin transfer fiyatlandırması, ertelenmiş vergi gideri, kârlılık, sermaye yoğunluğu ve kaldıraç gibi finansal değişkenlerin vergiden kaçınma üzerindeki etkisini incelemektedir. Panel veri ve PMG-ARDL modeli kullanılarak yapılan analiz, ertelenmiş vergi giderinin, sermaye yoğunluğunun ve kârlılığın etkin vergi oranını (ETR) negatif yönde etkilediğini; transfer fiyatlandırmasının ise ETR üzerinde pozitif ve anlamlı bir etkiye sahip olduğunu ortaya koymuştur. Kaldıraç ise anlamlı bir etki göstermemiştir. Bulgular, firmaların vergi yükünü azaltmak amacıyla amortisman ve Ar-Ge gibi stratejik araçları kullandığını işaret ederek, vergiden kaçınmanın çok boyutlu ve firma düzeyinde politika odaklı ele alınması gereken bir konu olduğunu vurgulamaktadır.

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Cite This Article

Gündüz, M. (2026). Financial Determinants of Tax Avoidance: Evidence from Borsa Istanbul Listed Firms. Sosyoekonomi, Cilt: 34 Sayı: 69, 301–318. https://doi.org/10.17233/sosyoekonomi.2026.03.14

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