منابع مشابه
Shareholder Investment Horizons and Tax Aggressiveness
This paper examines whether the investment horizon of a firm’s institutional shareholders affects the extent of tax aggressiveness as proxied by a firm’s five-year cash effective tax rate and yearly permanent book-tax differences. Using a sample of firms with institutional ownership data from 1995-2008, we find more tax aggressiveness for firms held by short-term investors and less tax aggressi...
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We study the stock price reaction to news about tax aggressiveness. We find that, on average, a company’s stock price declines when there is news about its involvement in tax shelters. The stock price decline is smaller for companies with relatively high effective tax rates, possibly because news about tax aggressiveness is more favorably viewed for those firms where public information would su...
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Aggregate statistics readily indicate why so many observers of financial markets in the United States are concerned about the balance between debt and equity in the corporate financial decision. Exceeding zero in most years before 1984, net equity issues by U.S. nonfinancial corporations have been negative in each year since. Net redemptions averaged approximately $80 billion annually during th...
متن کاملAre female CFOs less tax aggressive? Evidence from tax aggressiveness
This paper investigates the effect of CFO gender on corporate tax aggressiveness. Focusing on firms that experience a male-to-female CFO transition, the paper compares those firms’ degree of tax aggressiveness during the preand posttransition periods. Using the probability of tax sheltering, the predicted unrecognized tax benefits, and the discretionary permanent book-tax differences to measure...
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Over the past decade, Corporate Social Responsibility (CSR) has become a major concern for firms in appeasing the skepticism of stakeholder groups including shareholders, consumers, and organizational members at various levels (Donaldson and Preston, 1995; Kapstein, 2001). Significant changes have occurred in the way in which firms would like to be regarded, as evidenced by the increased report...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2019
ISSN: 1556-5068
DOI: 10.2139/ssrn.3361766