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Aggressive tax planning and stock price synchronicity: evidence from China
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Aggressive tax planning and stock price synchronicity: evidence from China (2019)Aggressive tax planning and stock price s…Corporate tax avoidance and stock price crash risk: Firm-level analysis (2011)Corporate tax avoidance and s…Correcting for Cross-Sectional and Time-Series Dependence in Accounting Research (2010)Correcting for Cross-Sectiona…A review of tax research (2010)A review of tax researchTax Reporting Aggressiveness and Its Relation to Aggressive Financial Reporting (2009)Tax Reporting Aggressiveness …Opaque financial reports, R2, and crash risk☆ (2009)Opaque financial reports, R2,…Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches (2008)Estimating Standard Errors in…Are Family Firms More Tax Aggressive Than Non-Family Firms? (2007)Are Family Firms More Tax Agg…R2 around the world: New theory and new tests☆ (2005)R2 around the world: New theo…Law, finance, and economic growth in China (2005)Law, finance, and economic gr…Corporate tax avoidance and high-powered incentives (2005)Corporate tax avoidance and h…The Influence of Analysts, Institutional Investors, and Insiders on the Incorporation of Market, Industry, and Firm-Specific Information into Stock Prices (2004)The Influence of Analysts, In…Information and the Cost of Capital (2004)Information and the Cost of C…The information content of stock markets: why do emerging markets have synchronous stock price movements? (2000)The information content of st…Monetary policy rules in practice (1998)Monetary policy rules in prac…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Income tax evasion: a theoretical analysis (1972)Income tax evasion: a theoret…Earnings Management During Import Relief Investigations (1991)The economic implications of corporate financial reporting (2005)CFOs versus CEOs: Equity incentives and crashes (2011)Corporate social responsibility and stock price crash risk (2014)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Law and Finance (1998)Does board gender diversity improve the informativeness of stock prices? (2011)Understanding commonality in liquidity around the world (2011)Stock price synchronicity, crash risk, and institutional investors (2013)Crime and Punishment: An Economic Approach (1968)Essays in the Theory of Risk-Bearing. (1972)Shadow Economies: Size, Causes, and Consequences (2000)Deception: The Role of Consequences (2005)Enforced versus voluntary tax compliance: The “slippery slope” framework (2007)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)On Persistence in Mutual Fund Performance (1997)Discretion versus policy rules in practice (1993)The Science of Monetary Policy: A New Keynesian Perspective (1999)An Estimated Dynamic Stochastic General Equilibrium Model of the Euro Area (2003)Shocks and Frictions in US Business Cycles: A Bayesian DSGE Approach (2007)A Contribution to the Theory of Economic Growth (1956)Increasing Returns and Long-Run Growth (1986)Have Individual Stocks Become More Volatile? An Empirical Exploration of Idiosyncratic Risk (2001)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)The Effects of Executives on Corporate Tax Avoidance (2010)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)Legal Determinants of External Finance (1997)Corporate Ownership Around the World (1999)Capitalism with Chinese Characteristics (2008)Growing Like China (2011)The Fundamental Institutions of China's Reforms and Development (2011)Continuous Auctions and Insider Trading (1985)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)Information Uncertainty and Stock Returns (2006)Liquidity and Asset Prices (2006)High idiosyncratic volatility and low returns: International and further U.S. evidence (2008)Specification Tests in Econometrics (1978)Econometric Analysis of Cross Section and Panel Data (2001)Robust Standard Errors for Panel Regressions with Cross-Sectional Dependence (2007)Robust Inference With Multiway Clustering (2011)Policy Uncertainty and Corporate Investment (2015)
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References

  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 2008Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches10,793 cited
  • 1972Income tax evasion: a theoretical analysis4,964 cited
  • 2005Law, finance, and economic growth in China4,481 cited
  • 2000The information content of stock markets: why do emerging markets have synchronous stock price movements?3,332 cited
  • 2010A review of tax research3,167 cited
  • 2004Information and the Cost of Capital3,057 cited
  • 2005R2 around the world: New theory and new tests☆2,833 cited
  • 2009Opaque financial reports, R2, and crash risk☆2,796 cited
  • 1998Monetary policy rules in practice2,206 cited
  • 2005Corporate tax avoidance and high-powered incentives2,187 cited
  • 2011Corporate tax avoidance and stock price crash risk: Firm-level analysis2,154 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
  • 2010Correcting for Cross-Sectional and Time-Series Dependence in Accounting Research1,358 cited

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The Influence of Analysts, Institutional Investors, and Insiders on the Incorporation of Market, Industry, and Firm-Specific Information into Stock Prices
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