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作者：Bloomfield, Robert; Hodge, Frank; Hopkins, Patrick; Rennekamp, Kristina
作者单位：Cornell University; University of Washington; University of Washington Seattle; Indiana University System; Indiana University Bloomington
摘要：We present 60 experienced credit analysts with financial information for two firms: one that mainly outsources production and one that does not. We find that analysts are better able to identify firm characteristics that make an outsourcer more creditworthy when those characteristics are presented in the same general section of a financial report; either on the face of the financial statements or in the footnotes. Such coordinated presentation reduces the cognitive load necessary for integrati...
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作者：Higgins, Danielle; Omer, Thomas C.; Phillips, John D.
作者单位：City University of New York (CUNY) System; Baruch College (CUNY); University of Nebraska System; University of Nebraska Lincoln; University of Connecticut
摘要：We examine the relation between a firm's business and tax-planning strategies. To identify firms' business strategies, we use a comprehensive measure of business strategy based on the theoretical framework of Miles and Snow (1978, 2003). Specifically, we first investigate whether a firm's business strategy is associated with its level of tax avoidance. Next, we investigate the association between the firm's business strategy and the extent to which it avoids tax in an aggressive manner. We fin...
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作者：Smith, Michael J.
作者单位：Boston University
摘要：This study shows that in the presence of privately informed firms the optimal level of conservatism may result in failing to finance good projects or abandoning successful ones inefficiently often compared to a no private information benchmark. The result holds for a pre-investment signal and a post-investment signal with and without renegotiation. Without private information, good firms implicitly subsidize bad ones. Privately informed good firms will not provide this subsidy. The good firms'...
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作者：Allee, Kristian D.; Lynch, Daniel P.; Petroni, Kathy R.; Schroeder, Joseph H.
作者单位：University of Wisconsin System; University of Wisconsin Madison; Michigan State University; Indiana University System; Indiana University Bloomington
摘要：This study investigates the effect of personal property taxes (PPTs) on real business decisions. Consistent with tax avoidance, we posit that PPTs are associated with decreases (increases) in inventory prior to (following) calendar year-end assessment dates. We empirically test this prediction using monthly crude oil inventory data. We find that in locations where crude oil inventory is subject to taxation, total and refinery-level crude oil inventories are reduced prior to assessment dates an...
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作者：Dhaliwal, Dan S.; Lamoreaux, Phillip T.; Lennox, Clive S.; Mauler, Landon M.
作者单位：University of Arizona; Korea University; Arizona State University; Arizona State University-Tempe; Nanyang Technological University; State University System of Florida; Florida State University
摘要：This study investigates the influence of management over auditor selection decisions during a period in which audit committees have direct responsibility for auditor selection. We find that contrary to the intent of Sarbanes-Oxley Act (SOX), management appears to retain significant influence over auditor selection in the subset of companies that select Big 4 auditors and this is not mitigated by higher-quality audit committees. As SOX presumes that management influence over auditor selection l...
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作者：Allee, Kristian D.; Lynch, Daniel P.; Petroni, Kathy R.; Schroeder, Joseph H.
作者单位：University of Wisconsin System; University of Wisconsin Madison; Michigan State University; Indiana University System; Indiana University Bloomington
摘要：This study investigates the effect of personal property taxes (PPTs) on real business decisions. Consistent with tax avoidance, we posit that PPTs are associated with decreases (increases) in inventory prior to (following) calendar year-end assessment dates. We empirically test this prediction using monthly crude oil inventory data. We find that in locations where crude oil inventory is subject to taxation, total and refinery-level crude oil inventories are reduced prior to assessment dates an...
