The Relationship Between Board Characteristics and Effective Tax Rates of Companies Listed on the Yangon Stock Exchange (YSX)

Kyaw Si Thu Hein; Dan Kulroop; Jeeraporn Pongpunputana

Authors

Kyaw Si Thu Hein Graduate Student, Master of Business Administration (Accounting), Lampang Rajabhat University
Assistant Professor Dr.Dan Kulroop Faculty of Management Science, Lampang Rajabhat University
Assistant Professor Dr.Jeeraporn Pongpunputana Faculty of Management Science, Lampang Rajabhat University

Keywords:

Board Characteristics, Effective Tax Rates (ETR), Corporate Governance, Yangon Stock Exchange

Abstract

This research aims to analyze the relationship between board characteristics and the effective tax rate (ETR) of companies listed on the Yangon Stock Exchange (YSX) in Myanmar, an emerging capital market where empirical evidence remains limited. The study employs panel data from 8 listed companies covering the period 2016–2024, totaling 54 firm-year observations. Data analysis was conducted using descriptive statistics and multiple regression models.

The findings reveal that board size is negatively associated with the effective tax rate. Conversely, other corporate governance mechanisms, including audit committee, board independence, CEO duality, and board meetings, show no significant relationship with the companies' effective tax rate. These results suggest that while larger boards may offer diverse expertise for tax-related oversight, the practical impact of mandated governance structures on tax outcomes remains limited in this early-stage market.

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