Propensity score matching (PSM) has become a popular technique for estimating average
treatment effects (ATEs) in accounting research. In this study, we discuss the usefulness and …

Using 113 staggered changes in corporate income tax rates across US states, we provide
evidence on how taxes affect corporate risk‐taking decisions. Higher taxes reduce expected …

We study whether the corporate tax system provides incentives for risky firm investment. We
analytically and empirically show two main findings: first, risk-taking is positively related to …

Using a large sample of Chinese listed firms from 2003 to 2018, we examine the effect of
multiple blockholders on corporate financialization. We find that the existence of other large …

In this study, we investigate the potential of minority investor activism to alleviate risk-related
agency problems. We focus on the China Securities Investor Services Centre (CSISC), a not …

This paper examines the relation between CEO inside debt holdings (pension benefits and
deferred compensation) and corporate tax sheltering. Because inside debt holdings are …

This paper employs a large international sample of 167,923 firm-year observations across
43 countries spanning 2001–2016 and finds that both annual and long-run climate risks …

We find an overall negative relation between CEO inside debt holdings and the cost of
equity capital. Such a negative relation holds in an instrumental-variable analysis, a test …

Labor protection increases employees' stability and strengthens their monitoring role,
improving firms' information environment and increasing analysts' earnings forecast …

We examine the impact of social networks between independent directors and the CEO on
firm risk. Employing the deaths and retirements of socially connected independent directors …