الفهرس 
The Effect of CEO Narcissism and Corporate Tax Sheltering on the Firm Value : An Empirical Study
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Abstract
Corporate tax sheltering is a legal action that may be taken by
companies to achieve a better financial position in recent years. Chief
executive officer (CEO) plays a unique role in determining the companies
tax strategies. where CEO personal traits can affect the company strategy
and outcomes. Many of CEO personality traits that affecting firm outcomes
have been examined in the literature. Particularly, narcissism is considered
as a major CEO trait, which is associated with overconfidence, selfinterest,
and willingness to take risks. This thesis focuses on narcissism trait which
is seen as one of the most complex and highly researched personality traits
in prior studies. Moreover, this study focuses on examining the relationship
between CEO narcissism and corporate tax sheltering which is considered
as an aggressive form of corporate tax avoidance and has become a general
feature of today´s business landscape (Lanis & Richardson, 2011). This
thesis based on a final sample comprises 48 non–financial firms summing
up 267 firm-year observations for the period from 2014 to 2019. An
Ordinary Least Squared (OLS) regression and Feasible Generalized Least
Square (FGLS) regression are conducted to examine the hypotheses.
Contrary to expectations, the results show a negative relationship between
CEO narcissism and corporate tax sheltering but this relationship is
statistically insignificant. Moreover, the researcher examined the effect of
CEO narcissism and corporate tax sheltering on the firm value. Consistent
with expectations, the results show a positive relationship between CEO
narcissism and firm valuation and a negative relationship between
corporate tax sheltering and firm value and these relationships are
statistically significant. Future research is necessary to examine the effects
of CEO narcissism using other measures of narcissism.