The Impact of Corporate Governance on the Relationship betweenTax Aggressiveness and Firm Value - An Applied study on listed companies in the Egyptian Stock Exchange

The research aims to study and test the relationship between between tax aggressiveness and firm value, and the impact of the corporate governance mechanisms on this relationship, by applying it to a sample of listed companies in the Egyptian Stock Exchange during the period (2013-2020). The results of the study concluded that Tax Aggressiveness have a significant negative impact on the firm value in the Egyptian environment, and the results of the study showed that governance mechanisms represented in the quality of external audit and the percentage of females in the board of directors significantly affect on the relationship between tax aggressiveness and the firm value, It was clear from the results that in light of the high quality of the external audit and the increase in the proportion of females in the board of directors, tax aggressiveness may affect positively and significantly on the firm value of the company, while the study did not find a significant effect of the size of the board of directors and the percentage of independent members of the board on the relationship between tax aggressiveness and the firm value. The study has important implications as it scientifically rooted the concept of tax aggressiveness by defining a clear concept for it, and identifying the most important theories explaining such practices, and the costs that the company may incur because of these practices, and the measures of tax aggressiveness,  It was also clear from the results of the study the negative impact of tax aggressiveness on the firm value , in contrast to the traditional view , which assumed a positive relationship between tax aggressiveness and the firm value due to the tax savings achieved through these practices. It was clear from the results of the study that for the tax savings achieved from these practices to reflect positively on the firm value, this is conditional on the existence of good governance mechanisms, the most important of which is the quality of external auditing and an increase in the percentage of females on the companies’ board of directors.