Analysis of the Impact of Tax Transparency on International Investment Behavior of Enterprises and the Role of Corporate Governance

Abstract

Economic globalization is evolving in depth, and the international tax governance system is becoming increasingly perfect. Tax transparency has become a core institutional endowment that affects the cross-border resource allocation of enterprises. Based on three major theories of information asymmetry, this article deeply deconstructs the deep coupling logic between tax transparency and international investment decision-making, location selection, scale, and efficiency of enterprises, and explores the regulatory and intermediary effects of corporate governance. Research has found that tax transparency injects positive empowerment into international investment by reducing financing costs, easing cross-border tax exposure, and building a foundation of investor trust; Improved corporate governance can not only improve the quality of tax information disclosure, but also establish a sound compliance framework, significantly amplifying this positive effect. In addition, the impact of tax transparency shows distinct heterogeneity among different enterprise sizes, industry attributes, and investment regions. The BEPS Action Plan provides theoretical and practical guidance for enterprises to deepen tax transparency, governments to promote international tax management, and create a fair and efficient cross-border investment environment by improving global tax information exchange and reducing compliance risk exposure.