The authors examine the aggregate and distributional effects of the Tax Reform Act of 1986 on equity values of publicly traded corporations. The results show that the effect of the act on the aggregate equity value of corporations was consistent with the present value of the projected added tax...

We compare the quality of accounting numbers produced by two types of public firms - those with publicly-traded equity and those with privately-held equity that are nonetheless considered public by virtue of having publicly-traded debt. We develop and test two hypotheses. The quot;demandquot;...