The Internal Revenue Code allows firms to carry excess tax losses forward to offset future taxable income and reduce taxes. Consistent with tax loss carryforwards (TLCFs) creating a significant asset, prior research finds investors positively value TLCFs. However, investors face significant...

This study examines whether the quality of a firm's internal information environment influences its tax-motivated income shifting activities. Although income shifting is an important tax planning strategy, evidence regarding its determinants is limited. We find that higher IIQ is associated with...

This study investigates whether the agency conflicts inherent in a dual class ownership structure are associated with the level of firms' tax avoidance. Dual class ownership presents a unique agency problem because insiders' voting rights (i.e., insiders' ability to control the firm) exceed...