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Persistent link: https://www.econbiz.de/10011639159
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Using 113 staggered changes in corporate income tax rates across U.S. states, we provide evidence on how taxes affect corporate risk-taking decisions. Higher taxes reduce expected profits more for risky projects than for safe ones, as the government shares in a firm's upside but not in its...
Persistent link: https://www.econbiz.de/10012900841
Using 113 staggered changes in corporate income tax rates across U.S. states, we provide evidence on how taxes affect corporate risk-taking decisions. Higher taxes reduce expected profits more for risky projects than for safe ones, as the government shares in a firm's upside but not in its...
Persistent link: https://www.econbiz.de/10012970428
Using 113 staggered changes in corporate income tax rates across U.S. states, we provide evidence on how taxes affect corporate risk-taking decisions. Higher taxes reduce expected profits more for risky projects than for safe ones, as the government shares in a firm's upside but not in its...
Persistent link: https://www.econbiz.de/10013002264
Despite a longstanding debate over the pros and cons of imposing legal liability on directors and officers (D&Os), how D&O liability affects corporate innovation is rarely studied. We study this question by exploiting Nevada's 2001 corporate law change that dramatically lowered D&O legal...
Persistent link: https://www.econbiz.de/10012853470
Using 113 staggered changes in corporate income tax rates across U.S. states, we provide evidence on how taxes affect corporate risk-taking decisions. Higher taxes reduce expected profits more for risky projects than for safe ones, as the government shares in a firm's upside but not in its...
Persistent link: https://www.econbiz.de/10012456837
This study examines the effect of litigation risk on the readability of corporate financial reports using the 1999 Silicon Graphics Inc. court ruling as a natural experiment. This ruling unexpectedly reduced the litigation risk of firms located in the states of the Ninth Circuit Court (treated...
Persistent link: https://www.econbiz.de/10012847935
Using 113 staggered changes in corporate income tax rates across U.S. states, we provide evidence on how taxes affect corporate risk-taking decisions. Higher taxes reduce expected profits more for risky projects than for safe ones, as the government shares in a firm's upside but not in its...
Persistent link: https://www.econbiz.de/10012967702
Persistent link: https://www.econbiz.de/10011536137