本研究收集1994年至2016年在美國發生的重大恐怖攻擊事件為樣本，探討恐怖主義威脅對公司的公司避稅活動的影響。我們發現，位於恐怖襲擊地區附近的公司，在恐怖襲擊後大大降低他們從事避稅活動的程度。此效果對於具有較高的社會資本與較受社會信賴的公司影響更顯著。 總體而言，我們的發現指出在恐怖事件發生後，社會動機是影響公司納稅政策制定的重要因素。

Using a large sample of major terrorist attacks occurring in the U.S. between 1994 and 2016, this study examines the causal effect of the threat of terrorism on firms’ corporate tax avoidance activities. We find that firms located near terrorism-stricken areas (i.e., the impact firms) substantially decrease their engagement in tax avoidance after terrorist attacks. We further observe a strengthened association between terrorism and tax avoidance when the impact firms have high level of social capital and/or are more trustworthy. Overall, our findings highlight the important of social motivations in shaping firms’ tax strategy following terrorist events.

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