Income reported to shareholders (book income) and income reported to the U.S. Internal Revenue Service (taxable income) are alternative measures of U.S. corporate economic performance discussed in recent research, academic texts, and by U.S. legislators. In measuring economic performance,...

This paper traces the development of archival, microeconomic-based, empirical income tax research in accounting over the last fifteen years. The paper details three major areas of research: (i) the coordination of tax and non-tax factors, (ii) the effects of taxes on asset prices and (iii) the...

We examine whether worker representation on corporate boards results in improved monitoring or payroll maximization. Several economic theories predict that worker representatives would use control and voting rights in the boardroom to transform firm assets into private benefits and increased...

United States multinational corporations can delay financial statement recognition of U.S. taxes on repatriations by designating foreign subsidiary earnings as quot;permanently reinvestedquot; under APB Opinion No. 23. This paper examines 1) whether firms use the permanently reinvested earnings...

This study explores firms' motivations for voluntary early debt redemptions (EDRs). Firms can retire debt early by exchanging the debt for cash, common stock, preferred stock, debt or assets. We use all five EDR types, including those that result in accounting gains and losses to analyze capital...

This discussion reflects on the state and future of empirical tax research in accounting, complementing and extending Shackelford and Shevlin (2000). Specifically, this discussion 1) examines the scope Shackelford and Shevlin (2000), 2) discusses what I view to be the main contributions and...

We examine whether worker representation on corporate boards results in improved monitoring or payroll maximization. Several economic theories predict that worker representatives would use control and voting rights in the boardroom to transform firm assets into private benefits and increased...

This study investigates the extent to which property-casualty insurers during the 1990-1995 period select levels of loss reserves, net capital gains and net stock transactions to meet solvency and tax reporting goals. We use simultaneous equations to model the three discretionary choices...

This discussion reflects on the state and future of empirical tax research in accounting, complementing and extending Shackelford and Shevlin (2000). Specifically, this discussion 1) examines the scope Shackelford and Shevlin (2000), 2) discusses what I view to be the main contributions and...

This discussion re-examines two major elements of Haw et al (2004). First, I present empirical evidence suggesting that tax compliance and earnings management are endogenous outcomes around the world. This result raises questions whether tax compliance is a causal determinant of either private...