In this study, we examine the wage effects of no‐trade clauses in Major League Baseball. Using an accepted player salary equation and data from the 2003-2008 seasons, we find evidence that there is a trade‐off between monetary compensation and the risk reduction provided by a no‐trade...

We examine the effect of Internal Revenue Service code (IRC) section 4960 of the Tax Cuts and Jobs Act of 2017 (TCJA) which imposed a 21% excise tax on nonprofit employee compensation over $1 million per covered individual. Using a difference-in-differences analysis on IRS Form 990 data for...

Both practitioners and academics are increasingly focusing their attention on the riskiness of firms' tax planning activities. In this study, we examine how external auditors respond to tax risk, measured using the volatility of firms' annual cash and GAAP effective tax rates. Consistent with...

Financial analysts and accounting regulators encourage companies to disclose the disaggregation of total capital expenditures (CAPX) into the portion of capital investment intended to sustain current performance (maintenance CAPX (MCAPX)), and the portion invested in new projects/assets to...

In 2010, the Internal Revenue Service (IRS) announced the requirement to disclose uncertain tax positions (UTP) on a new schedule (Schedule UTP) to be filed with federal corporate income tax returns. Schedule UTP could increase firm's tax burden by providing a roadmap of tax planning strategies...