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The effectiveness and valuation of political tax minimization
16 references·6 citing·35 second hop
The effectiveness and valuation of political tax minimization (2013)The effectiveness and valuation of politi…The Theory of Economic Regulation (2021)The Theory of Economic Regula…Corporate tax avoidance and stock price crash risk: Firm-level analysis (2011)Corporate tax avoidance and s…A review of tax research (2010)A review of tax researchWhy Do U.S. Firms Hold So Much More Cash than They Used To? (2009)Why Do U.S. Firms Hold So Muc…Tax Reporting Aggressiveness and Its Relation to Aggressive Financial Reporting (2009)Tax Reporting Aggressiveness …Corporate Tax Avoidance and Firm Value (2009)Corporate Tax Avoidance and F…Are Family Firms More Tax Aggressive Than Non-Family Firms? (2007)Are Family Firms More Tax Agg…Politically Connected Firms (2006)Politically Connected FirmsCorporate governance and the value of cash holdings (2006)Corporate governance and the …Corporate tax avoidance and high-powered incentives (2005)Corporate tax avoidance and h…Initial conditions and moment restrictions in dynamic panel data models (1998)Initial conditions and moment…Initial conditions and moment restrictions in dynamic panel data models (1995)Initial conditions and moment…Protection For Sale (1992)Protection For SaleBiases in Dynamic Models with Fixed Effects (1981)Biases in Dynamic Models with…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…The Theory of Economic Regulation (1971)The Theory of Economic Regula…What’s the value of politically connected directors? (2019)What’s the value of political…Political connection and tax aggressiveness: A study on the state-owned enterprises registered in Indonesia stock exchange (2019)Political connection and tax …Corporate Tax Avoidance and the Real Effects of Taxation: A Review (2019)Corporate Tax Avoidance and t…Tax-Related Corporate Political Activity Research: A Literature Review (2017)Tax-Related Corporate Politic…Strategic Corporate Tax Lobbying (2015)Strategic Corporate Tax Lobby…Taxes and Corporate Sustainability Reporting: Is Paying Taxes Viewed as Socially Responsible? (2013)Taxes and Corporate Sustainab…The Logic of Collective Action (1965)The analysis of household surveys (1997)Uncertainty about Government Policy and Stock Prices (2012)Political uncertainty and risk premia (2013)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations (1991)Another look at the instrumental variable estimation of error-components models (1995)Econometric Analysis of Cross Section and Panel Data (2001)A finite sample correction for the variance of linear efficient two-step GMM estimators (2004)Law and Finance (1998)The separation of ownership and control in East Asian Corporations (2000)The ultimate ownership of Western European corporations (2002)Do Lenders Favor Politically Connected Firms? Rent Provision in an Emerging Financial Market (2005)Political Connections and Corporate Bailouts (2006)Politically connected CEOs, corporate governance, and Post-IPO performance of China's newly partially privatized firms☆ (2007)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency costs of free cash flow, corporate finance, and takeovers (1996)Corporate Governance and Equity Prices (2003)Costly external finance, corporate investment, and the subprime mortgage credit crisis (2010)Product Market Threats, Payouts, and Financial Flexibility (2012)Feverish Stock Price Reactions to COVID-19* (2020)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)The Effects of Executives on Corporate Tax Avoidance (2010)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)The Regulation of Entry (2000)The great reversals: the politics of financial development in the twentieth century (2003)Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens (2014)How to do Xtabond2: An Introduction to Difference and System GMM in Stata (2009)Does Corporate Social Responsibility Affect the Cost of Capital? (2010)
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References

  • 1998Initial conditions and moment restrictions in dynamic panel data models22,547 cited
  • 1995Initial conditions and moment restrictions in dynamic panel data models14,749 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1981Biases in Dynamic Models with Fixed Effects8,724 cited
  • 1971The Theory of Economic Regulation8,084 cited
  • 2021The Theory of Economic Regulation5,483 cited
  • 2006Politically Connected Firms4,073 cited
  • 1992Protection For Sale3,302 cited
  • 2010A review of tax research3,167 cited
  • 2009Why Do U.S. Firms Hold So Much More Cash than They Used To?2,896 cited
  • 2005Corporate tax avoidance and high-powered incentives2,187 cited
  • 2011Corporate tax avoidance and stock price crash risk: Firm-level analysis2,154 cited
  • 2006Corporate governance and the value of cash holdings2,135 cited
  • 2007Are Family Firms More Tax Aggressive Than Non-Family Firms?2,060 cited
  • 2009Tax Reporting Aggressiveness and Its Relation to Aggressive Financial Reporting1,533 cited
  • 2009Corporate Tax Avoidance and Firm Value

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Cited by

  • 2019Corporate Tax Avoidance and the Real Effects of Taxation: A Review42 cited
  • 2017Tax-Related Corporate Political Activity Research: A Literature Review35 cited
  • 2019What’s the value of politically connected directors?29 cited
  • 2015Strategic Corporate Tax Lobbying25 cited
  • 2013Taxes and Corporate Sustainability Reporting: Is Paying Taxes Viewed as Socially Responsible?21 cited
  • 2019Political connection and tax aggressiveness: A study on the state-owned enterprises registered in Indonesia stock exchange20 cited