Using confidential data from the Internal Revenue Service on who signs a corporation’s tax return, we investigate whether the party primarily responsible for the tax compliance function of the firm — the auditor, an external non-auditor, or the internal tax department — is related to the...

Canadian income trusts are a publicly-traded flow through structure. Their use in Canada has expanded beyond the traditional real estate sector (REITs). We use this alternative business structure to explore the valuation of investor taxes in a broad equity market setting. Adapting a pricing...

This study investigates how transfer pricing risk affects the premia in cross-border mergers and acquisitions. Differences in the rigor of transfer pricing enforcement and the severity and clarity of rules across countries create risk of material costs for multinationals as they expand globally....

Using a survey of tax executives from multinational corporations, we document that some firms set their transfer pricing strategy to minimize tax payments, but more firms focus on tax compliance. We estimate that a firm focusing on minimizing taxes has a GAAP effective tax rate that is 6.6...

We study the effect of high quality financial standards and shareholder-level capital gains taxes on the structuring of cross-border mergers and acquisitions. Using 5,837 M&A transaction across a 16-year period, we find that higher shareholder capital gains tax rates lead to increased use of...