We investigate the disciplining role of analysts’ revenue forecasts on firms’ discretionary revenues. We analyze … quarterly data and three-year window around the initiation of analysts’ revenue forecasts reported in IBES. Our study shows a … decrease in the magnitude of discretionary revenues after the revenue forecasts are initiated. This result is robust to …

transfers and their impacts on local government autonomy. We find that VAT revenue transfer antecedents include factors such as … effective tax policies considering stringent local budget constraints, the need for VAT revenue autonomy across levels of …

that repeatedly triggers political debate. Thereby, the low tax revenue of the economically weak states is also a …