haku: @indexterm Tax optimization / yhteensä: 11
viite: 5 / 11
| Tekijä: | Phillips, J. D. |
| Otsikko: | Corporate Tax-Planning Effectiveness: The Role of Compensation-Based Incentives |
| Lehti: | Accounting Review
2003 : JUL, VOL. 78:3, p. 847-874 |
| Asiasana: | PERFORMANCE MANAGEMENT TAX OPTIMIZATION TAX HARMONIZATION CHIEF EXECUTIVE OFFICERS COMPENSATION |
| Kieli: | eng |
| Tiivistelmä: | This study investigates whether compensating chief executive officers and business-unit managers using after-tax accounting-based performance measures leads to lower effective tax rates, the empirical surrogate used for tax-planning effectiveness. Utilizing proprietary compensation data obtained in a survey of corporate executives, the relation between effective tax rates and after-tax performance measures is modeled and estimated using a two-step approach that corrects for the endogeneity bias associated with firms' decisions to compensate managers on a pre- versus after-tax basis. The results are consistent with the hypothesis that compensating business-unit managers, but not chief executive officers, on an after-tax basis leads to lower effective tax rates. |
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