This study presents and provides an explanation for a novel stylized fact: both high-performing public companies as well as more troubled companies withhold issuing guidance. We assume that the manager's ability affects the level of earnings and the accuracy of the guidance, but issuing a...

We use a proprietary data set with detailed executive compensation information to examine the relationship between the incentives of the tax director and GAAP and cash effective tax rates, the book-tax gap, and measures of tax aggressiveness. We find that the incentive compensation of the tax...