This paper presents two tests of the hypothesis that the managers of management-controlled firms exercise their control over the information contained in annual reports in a manner which may misrepresent firm performance. The first test finds that management-controlled firms have a significantly...

We examine the financial and valuation consequences of corporate inversion using a sample of 12 inversion firms and 24 matched firms. We find that firms' effective tax rates (ETRs) decline substantially following inversion. Based on pre– to post–inversion changes in foreign profit margin,...