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We examine whether changes to corporate governance arising from board reforms affect corporate tax behavior. While the relation between corporate governance and tax behavior has been the subject of intense interest in the literature, prior research has been hampered by a lack of exogenous...
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We examine corporate tax behavior in the face of political uncertainty. Because tax policy is an outcome of a political process, increased political uncertainty may be associated with changes in tax behavior. On one hand, uncertainty about whether a firm's current tax strategies will be rendered...
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This paper provides the first empirical investigation of the influence of credit default swaps (CDS) on the surge in subprime mortgage defaults, which is widely believed to be a driving force in the 2008/2009 financial crisis. In the years just before the 2008/2009 financial crisis, private...
Persistent link: https://www.econbiz.de/10013066387
We offer the first empirical evidence on the adverse effect of credit default swap (CDS) coverage on subprime mortgage defaults. Using a large database of privately securitized mortgages, we find that higher defaults concentrate in mortgage pools with concurrent CDS coverage and within these...
Persistent link: https://www.econbiz.de/10013069825
To our knowledge, this paper provides the most comprehensive analysis of firm-level corporate income tax expenses to date. We use publicly available financial statement information to estimate firm-level effective tax rates (ETRs) for 10,642 corporations from 85 countries from 1988 to 2007. We...
Persistent link: https://www.econbiz.de/10013116971
To our knowledge, this paper provides the most comprehensive analysis, to date, of the role of leverage, intangible assets, and tax havens in reducing firm-level corporate income taxes. Using publicly available financial statement information for 3,926 public corporations from 62 countries from...
Persistent link: https://www.econbiz.de/10013089914
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