Open Access. Powered by Scholars. Published by Universities.®
- Discipline
Articles 1 - 2 of 2
Full-Text Articles in Business
Who Benefits From Detailed Income Tax Disclosure?, Jack Badger
Who Benefits From Detailed Income Tax Disclosure?, Jack Badger
Doctoral Dissertations
In this study, I investigate the costs and benefits of providing detailed income tax footnotes. Specifically, I examine whether the level of specificity in a firm’s income tax footnote is associated with the value relevance of income tax numbers, analysts’ effective tax rate (ETR) forecasting ability, and uncertain tax benefit (UTB) settlements. The Financial Accounting Standards Board (FASB) launched, and finalized, the Income Tax Disclosure Project to address concerns regarding the amount of boilerplate and generic information in firm’s income tax footnotes. Firms argue that the complex and dynamic nature of income taxes will render these disclosures confusing for investors …
Politically Connected Analysts, Michael B. Mcdonald
Politically Connected Analysts, Michael B. Mcdonald
Doctoral Dissertations
This dissertation examines politically-connected equity analysts, i.e., analysts that make large political donations. I find that these big donor analysts make more accurate earnings forecasts than other small donor and non-donor analysts, and the accuracy of these forecasts decreases after a big donor analyst ceases his donations. These analysts become more accurate after they become large political donors, suggesting their enhanced performance derives from an advantage gained via their political activity. These results are stronger when (i) the analyst works or lives in the state represented by the benefiting politician, and (ii) the benefiting politician serves on a Congressional committee …