Matches in SemOpenAlex for { <https://semopenalex.org/work/W2893181904> ?p ?o ?g. }
- W2893181904 abstract "We analyze whether tough IRS monitoring generates a positive externality by constraining managers’ bad news hoarding activities. Supporting this prediction, we find a negative relation between the threat of an IRS audit and stock price crash risk. Our evidence is consistent with recent theory that outside investors learn more about firms when tax enforcement is stricter. Additionally, path analysis suggests that the monitoring channel (direct path) plays a critical role in shaping crash risk relative to information asymmetry channels of tax planning and accruals manipulation (indirect paths). Consistent with other predictions, we find that the monitoring role of IRS audits intensifies when firms experience worse agency conflicts stemming from CEO power and incentives. Collectively, our research implies that external monitoring by tax authorities protects shareholders against managers suppressing negative firm-specific information that engenders stock price crash risk, particularly when CEOs have wider scope and stronger incentives to hoard bad news." @default.
- W2893181904 created "2018-10-05" @default.
- W2893181904 creator A5017272919 @default.
- W2893181904 creator A5030455793 @default.
- W2893181904 creator A5077414271 @default.
- W2893181904 date "2017-01-01" @default.
- W2893181904 modified "2023-10-13" @default.
- W2893181904 title "Does Stock Price Crash Risk Subside When the IRS Imposes Stricter Corporate Tax Enforcement?" @default.
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- W2893181904 doi "https://doi.org/10.2139/ssrn.2980012" @default.
- W2893181904 hasPublicationYear "2017" @default.
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