This paper considers the effects of the 1993 legislation limiting the deductibility of non-performance-based executive compensation for corporate income tax purposes. We begin by describing the specific provisions of the legislation, and we discuss its possible effects on overall compensation...

We construct preferences towards risk and uncertainty as reflected in the cultural heritage of CEOs managing public firms in the U.S. We demonstrate that auditors take into account cultural traits of CEOs in the pricing of their audit services. We also show CEO cultural heritage is associated...

We exploit one of the largest data leaks to date to study whether and how firms use secret offshore vehicles. From the leaked data, we identify 338 listed firms as users of secret offshore vehicles and document that these vehicles are used to finance corruption, avoid taxes, and expropriate...

We present four important dimensions to international tax policy from a tax-systems perspective, stressing that non-rate/base tax policies can have different cross-jurisdictional spillover effects than changes in tax rates. The dimensions are the allocation of global income among taxing...

We use the unique nature of the director and officer liability protection law applicable to Nevada-incorporated firms to study how liability protection is related to corporate tax avoidance. We find that firms incorporated in Nevada avoid 32 percent more federal corporate tax as a fraction of...

Tax collection is vital to maintain fiscal sustainability. According to a World Bank report, developing economies average 15% of Gross Domestic Product (GDP) in tax collections which is lower than that in advanced economies i.e. 40%. This inability of the developing economies recognizes weak...