Publications

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2015
Working Paper

Executives' Financial Preferences and Shareholder Tax Outcomes

By: Gerardo Pérez Cavazos and Andreya M. Perez-Silva

We demonstrate that executives’ personal financial preferences impact both layers of shareholder taxes, corporate taxes and corporate payouts. We reconstruct executives’ insider equity portfolios to quantify their personal incentives and analyze stock sales that reveal... View Details

Keywords: Executives; Capital Gain; Dividends; Effective Tax Rate; Tax Avoidance; Taxation; Management Teams; Business and Shareholder Relations

Research Summary

The Corporate Governance Role of Taxes

Dyck introduces evidence that private benefits of control are higher in countries with poor tax enforcement and in ongoing work explores further this correlation using both theory and empirical work from the United States and Russia. This work illustrates that the... View Details

March 6, 2006
Article

Taxing Corporate Capital Gains

By: Mihir A. Desai

Keywords: Taxation; Profit; Capital

March 2009
Article

Earnings Management and Corporate Tax Shelters, and Book-Tax Alignment

By: Mihir Desai and Dhammika Dharmapala

This paper reviews recent evidence analyzing the link between earnings management and corporate tax avoidance and considers the implications for how policymakers should evaluate the financial reporting environment facing firms. A real-world tax shelter is dissected to... View Details

Keywords: Earnings Management; Taxation; Financial Reporting; Business and Shareholder Relations

February 2022
Article

Taxation and Innovation in the 20th Century

By: Ufuk Akcigit, John Grigsby, Tom Nicholas and Stefanie Stantcheva

This paper studies the effect of corporate and personal taxes on innovation in the United States over the twentieth century. We build a panel of the universe of inventors who patent since 1920, and a historical state-level corporate tax database with corporate tax... View Details

Keywords: Innovation; Income Taxes; Corporate Taxation; Firms; Inventors; State Taxation; Business Taxation; R＆D Tax Credits; Taxation; Innovation and Invention; History; United States

2001
Article

The Uneasy Marriage of Export Incentives and the Income Tax

By: M. A. Desai

Keywords: Taxation; Motivation and Incentives

2000
Working Paper

The Uneasy Marriage of Export Incentives and the Income Tax

By: Mihir A. Desai and James R. Hines Jr.

June 27, 2011
Article

A Plan to Tax the Foreign Income of U.S. Companies

By: Robert C. Pozen

Keywords: Taxation; Money; Business Ventures; United States

2009
Working Paper

The Impact of Private Equity Ownership on Portfolio Firms' Corporate Tax Planning

By: Brad Badertscher, Sharon P. Katz and Sonja Olhoft Rego

This study investigates whether private equity (PE) firms influence the tax practices of their portfolio firms. Prior research documents that PE firms create economic value in portfolio firms through effective governance, financial, and operational engineering. Given... View Details

Keywords: Private Equity; Investment Portfolio; Corporate Governance; Taxation; Ownership Stake; Value Creation

October 5, 2012
Article

A Recipe to Cut Corporate Taxes

By: Robert C. Pozen

August 2009
Article

Corporate Tax Avoidance and Firm Value

By: Mihir Desai and D. Dharmapala

Keywords: Taxation; Business Ventures; Value

March 2004
Article

New Foundations for Taxing Multinational Corporations

By: Mihir A. Desai

Keywords: Taxation; Global Range; Business Ventures

September 30, 2011
Article

The Mirage of Corporate Tax Reform

By: Robert C. Pozen

Keywords: Governing Rules, Regulations, and Reforms; Taxation

07 Nov 2016
Research & Ideas

Corporate Tax Strategies Mirror Personal Returns of Top Execs

companies and their shareholders. It’s no secret that companies with similar financials often pay very dissimilar amounts of tax in a given year. The same is true of individuals. One need look no further than Republican presidential... View Details

Keywords: by Roberta Holland

2020
Working Paper

Cutting the Gordian Knot of Employee Health Care Benefits and Costs: A Corporate Model Built on Employee Choice

By: Regina E. Herzlinger and Barak D. Richman

The U.S. employer-based health insurance tax exclusion created a system of employer-sponsored insurance (ESI) with limited insurance choices and transparency that may lock employed households into health plans that are costlier or different from those they prefer to... View Details

Keywords: After-tax Income; Consumer-driven Health Care; Health Care Costs; Health Insurance; Income Inequality; Tax Policy; Health Care and Treatment; Cost; Insurance; Employees; Income; Taxation; Policy; United States

28 Aug 2009
Working Paper Summaries

The Impact of Private Equity Ownership on Portfolio Firms’ Corporate Tax Planning

Keywords: by Brad Badertscher, Sharon P. Katz & Sonja Olhoft Rego; Financial Services

January 2006
Article

Corporate Tax Avoidance and High Powered Incentives

By: Mihir A. Desai and Dhammika Dharmapala

Keywords: Taxation; Motivation and Incentives

September 2002 (Revised October 2002)
Case

Corporate Inversions: Stanley Works and the Lure of Tax Havens

By: Mihir A. Desai, James R. Hines, Jr and Mark Veblen

In response to Stanley Work's announcement that it is moving to Bermuda--and the associated jump in market value--a major competitor sets out to determine how the market is valuing the consequences of moving to a tax haven and whether his company should invert to a tax... View Details

Keywords: Financial Management; Taxation; Financial Strategy; Credit Derivatives and Swaps; International Finance; Valuation; Financial Markets; Financial Statements; United States