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New Evidence on Investors' Valuation of Deferred Tax Liabilities.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	New Evidence on Investors' Valuation of Deferred Tax Liabilities./
Author:	Hamilton, John Russell.
Description:	1 online resource (61 pages)
Notes:	Source: Dissertation Abstracts International, Volume: 79-10(E), Section: A.
Contained By:	Dissertation Abstracts International79-10A(E).
Subject:	Accounting. -
Online resource:	click for full text (PQDT)
ISBN:	9780355942231

New Evidence on Investors' Valuation of Deferred Tax Liabilities.
Hamilton, John Russell.

New Evidence on Investors' Valuation of Deferred Tax Liabilities. - 1 online resource (61 pages)

Source: Dissertation Abstracts International, Volume: 79-10(E), Section: A.

Thesis (Ph.D.)--The University of Arizona, 2018.

Includes bibliographical references

Although deferred tax liabilities represent a significant liability for most firms, prior research provides mixed evidence concerning investors' valuation of these items. Using an expanded data set of hand-collected tax footnotes, I examine (1) whether investors recognize depreciation-related deferred tax liabilities as economic burdens, and if so, (2) how investors measure the effect of these liabilities. I find evidence suggesting that investors price depreciation-related deferred tax liabilities as economic burdens and show that my primary findings are robust to the use of a changes-based methodology. I also examine various factors that could affect investors' measurement of these liabilities. In doing so, I develop a new method to identify tax-sensitive firms to implement my tests. This method incorporates forward-looking profit expectations without a look-ahead bias. Finally, I provide evidence of circumstances where investors discount deferred tax liabilities despite current accounting standards prohibiting managers from discounting these deferred tax liabilities in the reported financial statements. As depreciation-related deferred tax liabilities are among the largest and most common deferred tax liabilities, my study provides important insights into investors' valuation of firms' tax planning.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018

Mode of access: World Wide Web

ISBN: 9780355942231Subjects--Topical Terms:

561166
Accounting.
Index Terms--Genre/Form:

554714
Electronic books.

New Evidence on Investors' Valuation of Deferred Tax Liabilities.
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500 $a Source: Dissertation Abstracts International, Volume: 79-10(E), Section: A.
500 $a Adviser: Katharine Drake.
502 $a Thesis (Ph.D.)--The University of Arizona, 2018.
504 $a Includes bibliographical references
520 $a Although deferred tax liabilities represent a significant liability for most firms, prior research provides mixed evidence concerning investors' valuation of these items. Using an expanded data set of hand-collected tax footnotes, I examine (1) whether investors recognize depreciation-related deferred tax liabilities as economic burdens, and if so, (2) how investors measure the effect of these liabilities. I find evidence suggesting that investors price depreciation-related deferred tax liabilities as economic burdens and show that my primary findings are robust to the use of a changes-based methodology. I also examine various factors that could affect investors' measurement of these liabilities. In doing so, I develop a new method to identify tax-sensitive firms to implement my tests. This method incorporates forward-looking profit expectations without a look-ahead bias. Finally, I provide evidence of circumstances where investors discount deferred tax liabilities despite current accounting standards prohibiting managers from discounting these deferred tax liabilities in the reported financial statements. As depreciation-related deferred tax liabilities are among the largest and most common deferred tax liabilities, my study provides important insights into investors' valuation of firms' tax planning.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2018
538 $a Mode of access: World Wide Web
650 4 $a Accounting. $3 561166
655 7 $a Electronic books. $2 local $3 554714
690 $a 0272
710 2 $a ProQuest Information and Learning Co. $3 1178819
710 2 $a The University of Arizona. $b Management. $3 1182354
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