Firm-level tournament incentives and corporate tax aggressiveness

被引：53
|
作者：
Kubick, Thomas R. [1 ]
Masli, Adi N. S. [2 ]
机构：
[1] Univ Kansas, 315-F Summerfield Hall,1300 Sunnyside Ave, Lawrence, KS 66045 USA
[2] Univ Kansas, 315-E Summerfield Hall,1300 Sunnyside Ave, Lawrence, KS 66045 USA
来源：
JOURNAL OF ACCOUNTING AND PUBLIC POLICY | 2016年 / 35卷 / 01期
关键词：
RANK-ORDER TOURNAMENTS; SOCIAL-RESPONSIBILITY; EMPIRICAL-ANALYSIS; EQUITY RISK; AVOIDANCE; COMPENSATION; PERFORMANCE; EXECUTIVES; GOVERNANCE; PRICE;
D O I：
10.1016/j.jaccpubpol.2015.08.002
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Theory and prior research suggests that tournament incentives promote greater risk-taking by senior executives in order to increase the likelihood of being promoted. In this study, we hypothesize and confirm that tournament incentives of the CFO are positively associated with measures of tax aggressiveness. We conduct numerous robustness tests, including instrumental variables estimation and firm fixed effects. Further, we find the effect of tournament incentives to be incremental to equity incentives. We conclude that tournament incentives have a meaningful impact on corporate tax aggressiveness. (C) 2015 Elsevier Inc. All rights reserved.
引用
收藏
页码：66 / 83
页数：18
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