The effect of Corporate tax aggressiveness and outside directors on debt policy in Tehran Stock Exchange

This study examines the influence of corporate tax aggressiveness on debt policy and the influence of outside directors on debt policy, on firms listed in the Tehran Stock Exchange.To test the hypothesis used the ordinary least square regression, and panel d2ata . The sample included 107 selected companies during the years 1388 to 1392 in the form of A descriptive correlational study. Aggressive tax policies according to the model proposed by Richardson (2014) have been measured. The impact of variables such as Industry median debt ratio, Operating income, Market-to-book ratio, Log of total assets, Common stock dividends, Depreciation, Altman's Z-score, Fixed assets, Controlled .The results indicate that the negative relationship between tax aggressiveness and debt. Evidence also suggests that the proportion of outside directors on the board have not a significant effect on the debt ratio. Nevertheless, it was observed that in firms with a larger proportion of outside directors on the board, aggressive tax, have a greater impact on debt policy.