Purpose – This paper aims to examine whether the substitution of employee stock options (ESOs) for debt occurs for firms with different tax status classifications throughout the conditional distribution of interest expense before and after the implementation of Statement of Financial...

Purpose – Firms are concerned about earnings per share (EPS) dilution after equity issues. The purpose of this paper is to investigate whether firms manage upward their discretionary accruals around seasoned equity offerings (SEOs) to mitigate the impact of dilution on reported earnings....

Purpose – Firms are concerned about earnings per share (EPS) dilution after equity issues. The purpose of this paper is to investigate whether firms manage upward their discretionary accruals around seasoned equity offerings (SEOs) to mitigate the impact of dilution on reported earnings....

Purpose –The purpose of this paper is to examine whether firms engage in earnings decreasing management before share repurchases to mislead investors or to smooth earnings and improve earnings informativeness. Design/methodology/approach –The authors examine discretionary accruals and cash...

Prior literature conjectures that double taxation has a negative impact on corporate liquidity. However, there is a lack of empirical evidence for the proposition. By examining small publicly-traded C corporations, we find a negative relation between long-run cash effective tax rates and cash...

The growth of the service sector's share of total employment has obvious consequences for labor force participants. The issue has long been discussed, though little analysis has been done using vector autoregressive techniques, especially in determining the regional differences in the impact of...

We employ vector autoregressive techniques to determine the current state of the labor queue. Unemployment rate differentials have narrowed in recent years, potentially due to a change in the queue ordering, though a tight labor market and a stable queue would yield similar results. We find no...