This paper reports the results of a field experiment conducted in Washington State to improve compliance with the use tax and the Business and Occupation (B&O) tax. As part of the program, the Department of Revenue mailed letters that enhanced perceived detection risk and/or raised penalty...

Notes that ethical beliefs generally have not been considered in behavioral models of tax compliance, and argues that taxpayers' moral beliefs are highly significant -- and may represent the missing variable in compliance decision-making models.

SAC Capital Advisors LP (SAC) was once a $12-billion hedge fund with one of Wall Street's best records for performance. Steven A. Cohen, the owner and namesake of SAC, was the subject of admiring profiles in everything from the New York Times to Vanity Fair. He was once number 36 on Forbes' list...

During 2014 news stories emerged that eventually revealed and caused General Motors (GM) to admit that the corporation took more than ten years to recall millions of vehicles because of an elaborate cover-up related to defects in its engine ignition switches. Beyond the tragedy of at least 100...

The ethical issues that financial professionals face are no different from the ethical issues in any profession — or, indeed, the day-to-day dilemmas we all face. These issues are readily resolved through the use of three simple questions: Does this violate the law? Is this honest? What if I...

The distinction between brokers and investment advisers has become increasingly blurred over the past 30 years. In a 2011 study, the US SEC recommended that there be one uniform standard for both broker/dealers and investment advisers. In addition, all investment professionals could benefit from...