作者：Zimmerman, Jerold L.
作者单位：University of Rochester
作者：Dyreng, Scott D.; Markle, Kevin S.
作者单位：Duke University; University of Iowa
摘要：When a U.S. multinational corporation shifts income from the U.S. to foreign jurisdictions, it incurs costs and reaps benefits. The benefits may be reduced if the shifted income must be returned to the U.S. as a dividend in the short term and face the same U.S. tax it would have if the income had not been shifted. Firms, then, have incentive to defer repatriation of earnings and to fund domestic cash needs with external financing. The cost of external financing, however, is increasing in finan...
作者：Anantharaman, Divya; Pittman, Jeffrey A.; Wans, Nader
作者单位：Rutgers University System; Rutgers University New Brunswick; Rutgers University Newark; Memorial University Newfoundland
摘要：We examine how state liability regimes within the United States affect auditor reporting decisions. We exploit variation across state-level common law in two aspects of auditor liability: the extent to which auditors can be held liable by third parties for negligence, and rules for apportioning liability across multiple defendants. We find that auditors are more likely to issue a modified going-concern (GC) report to financially distressed clients from high-liability states than to those from ...
