Purpose – The purpose of this paper is to examine the distributional impact of personal income tax in Canada and China over the most recent decade. Design/methodology/approach – The Urban Household Survey in China and the Canadian Socio-Economic Information Management System data are...

This paper examines the impact of tax savings from the 1987 Canadian Tax Reform on firm equity value in the context of a tax-based market valuation model. The 1987 Canadian Tax Reform, which dramatically changes the tax regime in Canada, provides a unique opportunity to test the effects of the...

In this paper a new Bayesian approach is proposed to test a point null hypothesis based on the deviance in a decision-theoretical framework. The proposed test statistic may be regarded as the Bayesian version of the likelihood ratio test and appeals in practical applications with three desirable...

Vector Autoregression (VAR) has been a standard empirical tool used in macroeconomics and finance. In this paper we discuss how to compare alternative VAR models after they are estimated by Bayesian MCMC methods. In particular we apply a robust version of deviance information criterion (RDIC)...

Purpose –The purpose of this paper is to examine earnings management around tax rate reduction in the wake of the 2007 corporate tax reform in China. Design/methodology/approach –This paper is an empirical work using a sample of listed Chinese real estate firms Findings - This study finds...

This study examines abnormal stock return around the announcement of the Lifetime Capital Gains Exemption (LCGE) in the Canadian federal tax system. The revised code, adopted May 23, 1985 provided individual taxpayers with a cumulative tax exemption for capital gains, up to a lifetime limit of...

It is shown in this paper that the data augmentation technique undermines the theoretical underpinnings of the deviance information criterion (DIC), a widely used information criterion for Bayesian model comparison, although it facilitates parameter estimation for latent variable models via...

Purpose – The purpose of this paper is to examine long-term income tax liability for Chinese public corporations from 1998 to 2007. It also studies the factors that are associated with Chinese firms' long-run effective tax rates. Design/methodology/approach – The paper uses the measurement...

It is shown in this paper that the data augmentation technique undermines the theoretical underpinnings of the deviance information criterion (DIC), a widely used information criterion for Bayesian model comparison, although it facilitates parameter estimation for latent variable models via...