extensively. Proponents of increased book-tax conformity argue that tax compliance will increase and earnings quality will improve …. Opponents argue that earnings quality will decline. We examine whether the level of required book-tax conformity affects … earnings persistence and the association between earnings and future cash flows. We develop a comprehensive book-tax conformity …

We identify a pecuniary externality arising from corporate tax avoidance. Firms share risk with the government via … taxation. The lower the tax rate applied to a firm's earnings, the more risk is borne by its shareholders. As more firms engage … in avoidance in the aggregate, the variance of the market's after-tax cash flow increases. Consequently, the covariance …

tax havens. Involving the scrutiny by over 400 journalists worldwide, these documents reveal the offshore holdings of at … tax evasion. This article proceeds as follows. First, disclosures regarding the treasure trove of documents from the … to the global community. Third, I define and briefly explore issues surrounding “tax evasion.” Fourth, the impact of …

shareholders by granting trading rights to previously non-tradable shares. We find that the reform increases firms' tax avoidance … activities that are value-enhancing. However, the change in tax avoidance is only observed in state-owned firms where, compared … shareholders is aggravated due to the fact that the former also serves as the tax claimant. Further, this effect is more pronounced …

This study finds that stock return volatility is higher during periods of high tax policy uncertainty (TPU), even after … return volatility is more pronounced where firms are characterized by greater variability in tax outcomes. We adopt a broad … dispersion during periods of high TPU, indicating the effects of tax policy uncertainty extend to sophisticated market …

This study examines the tax avoidance behavior of firms prior to the issuance, and following the resolution, of SEC tax … comment letters. We find that firms that appear to engage in greater tax avoidance are more likely to receive a tax …-related SEC comment letter. We also find that firms receiving a tax-related SEC comment letter, relative to firms receiving a non-tax …

tax arbitrage (cross-platform and financial instrument shifting). I find large responses on all margins, that account for … regulated exchanges, with a high tax elasticity of this type of turnover in the order of -9. In contrast, real substitution from … taxed assets (measured by capitalization of tax costs in the short-run) is substantially smaller than would have otherwise …

employees with tax experience report a significant reduction in tax rate volatility but no reduction in effective tax rates …. Holding constant the amount of uncertain tax positions, these firms report greater settlements with the IRS, pay fewer … penalties, and purchase less tax-related services from their auditors …

with the hypothesis of management for lowering tax burden. Whereas, evidence from economic entity (consolidate accounting …