The purpose of this study is to describe the unique features and risks associated with multiemployer pension plans and to discuss the looming implications inherent in these plans to (1) users of financial statements (including pension plan participants and creditors), (2) regulators (including...

Early research on special items describes the valuation of these items utilizing several methods (e.g., response coefficients, persistence models, pricing correctness, etc.). As special item reporting became more common, research described reporting patterns (e.g., repetitive reporting,...

The use of assumed tax rates to adjust special items (e.g., restructuring charges, asset writedowns, etc.) is common in empirical accounting research, as these items are reported pre-tax and are often used in research designs that include after-tax earnings. This study aims to explore the...

We examine how tax rates impact investment by corporations in the stock market. We regress changes in intercorporate investment on changes in the various individual and corporate top statutory marginal tax rates (MTRs). We find a significant negative association between changes in individual...

Burgstahler et al. (2002) evaluate special items, a component of earnings with time series properties that differ from recurring earnings, to determine whether the market correctly prices these transitory items. In addition, they investigate the implications of special items for future earnings...