主题：Managerial Outside Job Opportunity Restriction and Corporate Tax Avoidance:Evidence from a Natural Experiment

　　主讲人：Yongbo Li，香港科技大学博士生

　　时间：5月27日（周一）上午9:30

　　地点：C273

　　主办单位：best365网页版登录会计系，best365网页版登录财务与会计研究所

　　主讲人简介：

　　Yongbo Li is the PhD candidate in accounting at HKUST. His current research interests are primarily in the areas of corporate governance, tax planning and financial reporting. He has a few working papers and publication in these fields.

　　讲座主要内容：

　　We examine the effect of managers’ outside job opportunities on corporate tax avoidance exploiting a natural experiment of staggered adoption of Inevitable Disclosure Doctrine (IDD) that limits the managers’ opportunities to join or form rival firms. We find that firms increase tax avoidance after the adoption of the IDD, as reflected in a lower Cash ETR and GAAP ETR, and a greater likelihood of using subsidiaries in tax haven countries. The effect of the IDD adoption on tax avoidance is in general more pronounced for firms with high effective rate before the adoption, for firms that operate in more homogeneous industries, and for firms that face lower IRS audit probability. Additional analysis shows that firm value and tax-related disclosures increase after the IDD adoption, especially for the firms with high effective tax rate before the adoption year. Overall, the evidence suggests that job career concerns mitigate the problem of underinvestment in tax planning.

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