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作者：Edwards, Alexander; Kubata, Adrian; Shevlin, Terry
作者单位：University of Toronto; IESEG School of Management; University of California System; University of California Irvine
摘要：We develop a linear corporate tax function where taxes paid are regressed on pre-tax income and an intercept. We show that if the intercept is positive, cash ETRs are a convex function of pre-tax income. We present large-sample evidence consistent with this ETR convexity. Thus, although firms may have stable linear tax functions (i.e., constant parameters in the linear tax model) representing stable tax avoidance behavior, ETRs can change over time because of growth in pre-tax income. Conseque...
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作者：Barth, Mary E.; Gee, Kurt H.; Israeli, Doron; Kasznik, Ron
作者单位：Stanford University; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Reichman University; Nazarbayev University
摘要：We investigate whether firms manage stock prices in anticipation of share issuance. Warrant exercise results in share issuance and warrant expiration dates are fixed years in advance, which precludes market timing. We predict firms manage stock prices to prevent (induce) warrant exercise when exercise is dilutive (anti-dilutive) to existing shareholders. To test our prediction, we examine stock returns around warrant expiration dates. We find that the difference between out-of-the-money (OTM) ...
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作者：Hobson, Jessen L.; Sommerfeldt, Ryan D.; Wang, Laura W.
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; Washington State University
摘要：We examine the effect of performance-based pay on misreporting intended to benefit a social mission. We show that performance-based pay decreases people's propensity to misreport for a social mission in a not-for-profit setting ( Experiment 1). We similarly show that in a for-profit setting, performance-based pay also decreases misreporting propensity for a social mission, although not for a non-social mission (Experiment 2). Finally, using a framed field experiment with participants attending...
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作者：Chen, Hanwen; Tang, Song; Wu, Donghui; Yang, Daoguang
作者单位：Nanjing Audit University; Shanghai University of Finance & Economics; Chinese University of Hong Kong; Chinese University of Hong Kong; University of International Business & Economics
摘要：In China's political selection system, officials capable of growing local economies are rewarded with promotions. Eager to demonstrate economic achievements, newly appointed local leaders may raise tax revenues to expand fiscal expenditures on infrastructure projects. Against this backdrop, we study how political appointments influence local firms' tax planning. Based on a sample of locally administered state-owned enterprises (SOEs), we find that firms decrease their tax avoidance after new l...
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作者：Yin, Huaxiang
作者单位：Nanyang Technological University
摘要：I investigate whether organizations can use the power of the employee'' to reduce managers' opportunistic behavior toward others. I predict that revealing this behavior to employees makes managers less inclined to act opportunistically. Employees' knowledge has a stronger impact on reducing managers' opportunistic behavior when managers have discretion over employee rewards versus when they do not. I further predict that the effect of employee-based control depends on whether managers are othe...
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作者：Chan, Eric W.; Kachelmeier, Steven J.; Zhang, Xinyu
作者单位：University of Texas System; University of Texas Austin; Cornell University
摘要：To address the empirical phenomenon that organizations often reward time on the job as an end in itself, we design an experiment in which participants solve anagram puzzles, manipulating whether a compensation pool generated from the output of paired workers is allocated based on the individual inputs of relative time spent or on the individual outputs of puzzles solved. Relative to an output-based allocation, we find that an input-based allocation leads participants to spend more time on the ...
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作者：Chen, Novia X.; Lehmer, Tiana
作者单位：University of Houston System; University of Houston; University of California System; University of California Irvine
摘要：We investigate whether U.S. multinational corporations shift income overseas to the point of recording domestic pretax earnings around zero. We label firms with near-zero domestic earnings Small'' firms, and present evidence that Small captures targeted income shifting that minimizes worldwide and domestic current taxes. Because shifting essentially all income out of the U.S. represents a very aggressive form of international tax planning, Small firms represent an important margin for understa...
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作者：Dou, Yiwei
作者单位：New York University
摘要：I investigate how the consolidation of securitization entities under SFAS 166 and 167 spills over to banks' supply of small business loans, which are rarely securitized in the United States. This spillover operates through two channels. (1) In the leverage channel, consolidating banks downsize their entire loan portfolios, both small business loans and other loans, in response to increased leverage after consolidation. (2) In the risk management channel, consolidating banks adjust the mix of l...
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作者：Estep, Cassandra
作者单位：Emory University
摘要：I investigate how auditors integrate information technology (IT) specialist input into internal control over financial reporting (ICFR) issue classifications. Given the ill-structured nature of evaluating ICFR issues and the impact of these issues on audit quality, combining knowledge from different perspectives is likely beneficial. Drawing on social identity theory, I predict and find that a weaker one-team identity between auditors and IT specialists yields benefits. Auditors with a weaker ...
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作者：Glaeser, Stephen A.; Landsman, Wayne R.
作者单位：University of North Carolina; University of North Carolina Chapel Hill
摘要：We examine how product market competition affects the disclosure of innovation. Theory posits that product market competition can cause firms to increase their disclosure of innovation to deter product market competitors. Consistent with this reasoning, we find that patent applicants in more competitive industries voluntarily accelerate their patent disclosures, which are credibly disclosed via the United States Patent and Trademark Office. Our inferences are robust to using changes in industr...
