Since its announcement in 2013, the Belt and Road Initiative (BRI), also known as the New Silk Road, has gradually gained international recognition. The New Silk Road project has a potential to transform the global flows of trade and investment. It is increasingly recognized that tax has the...

We compare US firms' earnings with reconciled earnings for cross listed non-US firms. Non-US firms' earnings exhibit more evidence of smoothing, greater tendency to manage towards a target, lower association with share price and less timely recognition of losses. Firms from countries with weaker...

We find that employee stock option deductions lead to large aggregate tax savings for Nasdaq 100 and Samp;P 100 firms and also affect corporate marginal tax rates. For Nasdaq firms, including the effect of options reduces the estimated median marginal tax rate from 31% to 5%. For Samp;P firms,...

This paper investigates the relation between cross listing in the U.S. and the information environment of non-U.S. firms. We find that firms that cross list on U.S. exchanges have greater analyst coverage and increased forecast accuracy relative to firms that are not cross listed. A time-series...

We find that employee stock option deductions lead to large aggregate tax savings for Nasdaq 100 and Samp;P 100 firms and also affect corporate marginal tax rates. For Nasdaq firms, the median marginal tax rate is 31 percent when option deductions are ignored but falls to 5 percent when one...