The DOI matches its Crossref record; 34 of the 34 references it cites were found in a registry or an index.
Do Publicly Disclosed Tax Reserves Tell Us About Privately Disclosed Tax Shelter Activity?
Open accessAbstract
We examine whether public disclosures of tax reserves recently made available through Financial Interpretation No. 48 (FIN 48) reflect corporate tax shelter activities. Understanding this relation is important to corporate stakeholders and researchers keen to infer the aggressive nature of a firm's tax positions from its tax reserve accrual. Our study links public disclosures of tax reserves with mandatory private disclosures of tax shelter participation as made to the Internal Revenue Service's Office of Tax Shelter Analysis. We find strong, robust evidence that the tax reserve is positively associated with tax shelters, while other commonly used measures of tax avoidance are not. Based on out‐of‐sample tests, we also show that the reserve is a suitable summary measure for predicting tax shelters. The tax benefits of tax shelters are economically significant, accounting for up to 48% of the aggregate FIN 48 tax reserves in our sample.
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Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches
Petersen, M. A. (2009) · Review of Financial Studies · doi:10.1093/rfs/hhn053 · Cited by 10,746
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Conservatism in Accounting Part I: Explanations and Implications
Watts, R. L. (2003) · Accounting Horizons · doi:10.2308/acch.2003.17.3.207 · Cited by 2,763
Corporate tax avoidance and high-powered incentives
Desai, M. A., & Dharmapala, D. (2006) · Journal of Financial Economics · doi:10.1016/j.jfineco.2005.02.002 · Cited by 2,170
Long-Run Corporate Tax Avoidance
Dyreng, S. D., Hanlon, M., & Maydew, E. L. (2008) · The Accounting Review · doi:10.2308/accr.2008.83.1.61 · Cited by 2,107
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Accounting Conservatism, the Quality of Earnings, and Stock Returns
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Cited by
Public Pressure and Corporate Tax Behavior
DYRENG, S. D., HOOPES, J. L., & WILDE, J. H. (2016) · Journal of Accounting Research · doi:10.1111/1475-679x.12101 · Cited by 533
HASAN, I., HOI, C.-K. S., WU, Q., & ZHANG, H. (2017) · Journal of Accounting Research · doi:10.1111/1475-679x.12159 · Cited by 413
Metadata
- Authors
- LISOWSKY, P., ROBINSON, L., & SCHMIDT, A.
- Venue
- Journal of Accounting Research
- Publisher
- Wiley
- Published
- 2013-02
- Volume
- 51
- Issue
- 3
- Pages
- 583-629
- ISSN
- 0021-8456 (ISSN-L)
- 1475-679X
- OpenAlex
- W2312597817
- Cited by
- 396
- References
- 34
- FWCI
- 97.41
- Type
- journal article
- Language
- en
- Open access
- green
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