Using the IPO setting, we test whether firms signal the quality of their investments in
innovation activities by claiming R&D tax credits. We find the presence and amount of the …

We test the political cost hypothesis using local soldier fatalities as a source of as-if-random
variation in the threat of political costs for local defense firms. Soldier fatalities vary the threat …

We investigate the effect of board gender diversity (BGD) on investment outcomes. We
identify variation in BGD by compiling, for the first time, a global catalog of 83 BGD …

A rich literature suggests that investor relations officers (IROs) fulfill a one‐way information
intermediary role by transmitting firm information to investors. We advance this literature with …

We investigate tax incidence reflected in the pricing of syndicated loans and argue that loan
spread increases in bank income taxes of borrowers' home states. We compare borrowers in …

Under US GAAP, firms recognize assets acquired in business combinations at fair value.
Similarly, in taxable asset acquisitions firms adjust the tax basis of assets to fair value …

Governments regularly offer non‐income tax relief to attract business investment. However, it
is unclear whether or how markets impound information about the relief into security prices …

Sovereign wealth funds (SWFs) are government‐owned institutional investors pursuing
political and financial investment objectives. With $8 trillion in assets, SWFs are geopolitical …

We study how the information conveyed by fair value (FV) reporting is considered during an
initial public offering (IPO). By examining how pre-IPO FV earnings are perceived by …

Does going public affect the amount and type of corporate tax planning? Using a panel of
US corporate tax return data from 1994 to 2018, we show that IPO completion is associated …