This paper develops and tests the hypothesis that accounting rules mitigate the effect of tax policy on firm investment … flows and accounting profits. I estimate the weight placed on accounting profits by comparing the effectiveness of tax … incentives that do and do not affect them. Investment tax credits, which do affect accounting profits, have larger effects on …

Life insurers use accounting and actuarial techniques to smooth reporting of firm assets and liabilities, seeking to …-guaranteed surplus. Our goal is to illustrate how accounting and actuarial techniques for this type of financial contract shape …

fire sales. We investigate whether capital requirements and accounting rules at financial institutions contributed to the … requirements increase as an asset's credit becomes impaired. When accounting rules require such an asset's value to be marked …

independent auditing mitigates the problem, implying that accounting quality can enhance investments, size of public stock markets …

We construct accounting-based costs of equity for dollar neutral long-short trading strategies formed on a … dramatically from average realized returns. If accounting-based costs of equity are reasonable proxies for expected returns, the …