We provide initial evidence on the economic consequences of a relatively large, fully disclosed, and apparently purposeful reporting decision: the balance sheet classification of short-term obligations as long-term debt in accordance with Statement of Financial Accounting Standard No. 6. We...

We examine the value to U.S. multinational firms of shifting income from high- to low-tax jurisdictions. Such shifting is common and sizable, yet the shareholder consequences are heretofore unknown. Using a novel income shifting measure and identification strategy from Demeré and Gramlich...

We evaluate the influence of campaign contribution disclosures on support for a tax-oriented ballot initiative. Specifically, we examine the extent that voters decrease support for Washington State Initiative 1634—an initiative banning new or increased taxes on groceries—after being...

This paper investigates auditor influence on the association between discretionary changes in the deferred tax asset valuation allowance (VA) and changes in future pretax earnings. Investors should be able to infer changes in future earnings from changes in the VA because the VA estimation...

We study whether board gender diversity (BGD) affects corporate risk strategies. Specifically, we investigate the association between BGD and firms' reputation risk and financial risk. Using S&P data from 1997 to 2013, we find that BGD is negatively associated with tax avoidance, suggesting...

This paper examines whether mandatory corporate social responsibility (CSR) reporting affects corporate environmental degradation (or pollution) levels in China. Starting in 2008, Chinese stock exchange listing requirements mandated that certain firms issue CSR reports. These mandated firms are...

This paper provides evidence that uncontested director elections provide informative polls of investor perceptions regarding board performance. We find that higher (lower) vote approval is associated with lower (higher) stock price reactions to subsequent announcements of management turnovers....

Many argue that uncontested director elections are meaningless because director nominees are almost surely elected. We assess whether the outcomes of uncontested director elections still serve as an informative poll of investor perceptions regarding board performance. We find that higher (lower)...

From 2009 to 2010, 98 percent of Google's and 99 percent of Oracle's subsidiaries disappeared from the Exhibit 21s filed with their SEC Form 10Ks. However, a March 2012 search of available public company registries revealed that at least 65 percent of the missing subsidiaries remained active as...