-
作者：Schwab, Casey M.; Stomberg, Bridget; Xia, Junwei
作者单位：University of North Texas System; University of North Texas Denton; Indiana University System; Indiana University Bloomington; Texas A&M University System; Texas A&M University College Station
摘要：Many studies use GAAP effective tax rates (ETRs) as a proxy for tax avoidance and assume that very low (high) ETRs represent the greatest (least) tax avoidance, yet ETRs can be affected by items unrelated to tax avoidance. Despite awareness of the potential limitations of ETRs versus other factors as a measure of tax avoidance, the literature lacks consistent evidence on the extent to which ETRs capture tax avoidance. We take a step toward filling this void using income tax footnote disclosure...
-
作者：Dyreng, Scott D.; Jacob, Martin; Jiang, Xu; Mueller, Maximilian A.
作者单位：Duke University; University of Cologne
摘要：Economists broadly agree that the economic burden of corporate taxes is not entirely borne by shareholders but also borne in part by employees and consumers. We examine corporate tax avoidance in a setting where shareholders do not bear the entire economic burden of the corporate tax. We show that the relation between corporate tax incidence and corporate tax avoidance depends on the elasticity of labor supply, the productivity of capital relative to labor, and the tax deductibility of labor a...
-
作者：Asante-Appiah, Bright; Sharma, Divesh S.
作者单位：Lehigh University; University System of Georgia; Kennesaw State University
摘要：We examine the determinants and consequences of the severity of executive compensation clawbacks. As one of the most substantial, prolonged, and controversial proposals to reform executive compensation, clawback rules recently regained the SEC's focus. We construct an intuitive clawback severity score and find that clawbacks are considerably heterogeneous and not homogenous as assumed in the literature. Our determinants analyses suggest that clawback severity is increasing in firms with greate...
-
作者：Drake, Michael S.; Hess, Ryan, V; Wilde, Jaron H.; Williams, Braden M.
作者单位：Brigham Young University; Oklahoma State University System; Oklahoma State University - Stillwater; University of Iowa; University of Texas System; University of Texas Austin
摘要：Governments regularly offer non-income tax relief to attract business investment. However, it is unclear whether or how markets impound information about the relief into security prices. We use novel data from retrospective public records to examine the information content of non-income tax relief. We predict and find that the receipt and magnitude of this relief are both strongly associated with recipients' future accounting performance and future abnormal returns. We further find that abnorm...
-
作者：Donelson, Dain C.; Tori, Elizabeth; Yust, Christopher G.
作者单位：University of Iowa; Oklahoma State University System; Oklahoma State University - Stillwater; Texas A&M University System; Texas A&M University College Station
摘要：Does personal litigation risk for independent directors materially affect firm valuation, compensation-related issues for independent directors, and board composition decisions? We use the unexpected In re Investors Bancorp decision in 2017 by the Delaware Supreme Court, which lowered the liability threshold only for directors in derivative litigation over their own equity grants and increased their future litigation risk, to examine these issues. Understanding changes in independent director ...
-
作者：Altamuro, Jennifer L. M.; Gray, John V.; Zhang, Haiwen (Helen)
作者单位：Villanova University; University System of Ohio; Ohio State University; University of Minnesota System; University of Minnesota Twin Cities
摘要：This study examines corporate integrity culture-that is, a firm's shared values and behaviors related to compliance, trustworthiness, and ethics. Different from prior research that associates culture measures with general firm-level outcomes, we evaluate the pervasiveness of the integrity culture within an organization across two disparate business functions: operations and financial reporting. We first develop a measure of corporate integrity culture based on firms' internal control environme...
-
作者：Zimbelman, Aaron F.
作者单位：University of South Carolina System; University of South Carolina Columbia
摘要：This study examines whether auditors can improve their judgment by drawing on the crowd within-that is, making the same judgment twice and averaging the two responses. Improvements in judgment are of special interest to auditors given that poor judgment threatens audit effectiveness and efficiency. The results from my experiment suggest that drawing on the crowd within helps auditors better use their task-relevant knowledge, leading to more accurate auditor judgments relative to the judgments ...
-
作者：Liao, Chih-Hsien; Tsang, Albert; Wang, Kun Tracy; Zhu, Nathan Zhenghang
作者单位：National Taiwan University; Hong Kong Polytechnic University; Australian National University
摘要：In this study, we examine whether a country's implementation of major corporate governance reforms affects firms' cross-listing activities. Cross-listing is important in overcoming international investment barriers and thus it is worth investigating whether enhanced corporate governance at the country level contributes to the integration of international capital markets. Using a difference-in-differences research design, we predict and find that following the implementation of corporate govern...
-
作者：Joe, Jennifer R.; Luippold, Benjamin L.; Sanderson, Kerri-Ann
作者单位：University of Delaware; Babson College; Bentley University
摘要：We provide evidence that regulatory guidance aimed at improving audit efficiency and effectiveness-allowing auditor reliance on a multi-location client's competent and objective internal audit function (IAF)-can unintentionally increase auditors' litigation risk. Our research is important in demonstrating how client characteristics and juror cognitive processing, such as the number of client locations and jurors' susceptibility to the numerosity heuristic, factors beyond auditors' control, can...
-
作者：Stice, Derrald; Stice, Earl K.; Stice, Han; Stice-Lawrence, Lorien
作者单位：University of Hong Kong; Brigham Young University; Chinese University of Hong Kong; University of Southern California
摘要：We show that managers have a propensity to disproportionately report total revenues just above base-ten thresholds (e.g., 10 million, 30 million, 1 billion) and examine motives for and consequences of this behavior. Focusing on base-ten thresholds in revenues is important because, despite being unusually prevalent in revenue targets set in executive compensation contracts, analyst forecasts, and management forecasts, they have not been previously explored. We also show that pressure to beat th...
