Lessons from a Historical PanelIn this article, Patel and McClelland present a prototype destination basis cash flow tax to replace the existing corporate income tax. To gain some insight into the potential consequencesof the United States adopting a cash flow tax of this form the authors use a panel of tax returns over the 2004-2013 [...]
Investor-level taxation may distort merger and acquisition decisions when capital gains are taxed at a preferable rate, relative to dividends. The intuition is that the value of a target’s assets depends on whether the target is acquired. If it is acquired, then the firm’s equity is taxed at the capital gains rate. If, instead, the [...]
We investigate the tax implications for the new recreational marijuana industry in the United States, which reached a size of $9 billion in 2017. We exploit administrative data from Washington state to evaluate market conduct, and we estimate the elasticity of supply to be 1.46 . In addition, we conduct a survey of marijuana [...]
We use novel data from a leading online job search platform to examine the impact of corporate distress on firms’ ability to attract job applicants. Survey responses suggest that job seekers accurately perceive firms’ financial condition, as measured by companies’ credit default swap prices and accounting data. Analyzing responses to job postings by major financial firms during [...]
Many firms issue stock options to all employees. We consider three potential economic justifications for this practice: providing incentives to employees, inducing employees to sort, and helping firms retain employees. We gather data on firms' stock option grants to middle managers from three distinct sources, and use two methods to assess which theories appear to explain observed [...]
Many firms issue stock options to all employees. We consider three potential economic justifications for this practice: providing incentives to employees, inducing employees to sort, and helping firms retain employees. We gather data on firms' stock option grants to middle managers from three distinct sources, and use two methods to assess which theories appear to explain observed [...]
[Original air date: April 14, 2020] Cash is King — Managing Finance and Cash Flow Pressures in a Pandemic View Recording Download PPT Speaker: Matthew Ringgenberg Associate Professor of Finance at the David Eccles School of Business at the University of Utah [...]
[Original air date: April 7, 2020] Workforce Decisions and the CARES Act View Recording Download PPT Moderator: Scott Schaefer John W. McIntyre Family Endowed Chair for Free Market Economics and Professor of Finance at the University of Utah’s David Eccles School of [...]
[Original air date: April 3, 2020] How to Save Your Business View Recording Download PPT Speaker: Mike Leavitt Former Secretary, United States Health and Human Services; Former Utah Governor; President and CEO, Leavitt Partners [...]
In 2007, the Supreme Court declared race-conscious school admissions unconstitutional. This paper provides the first evaluation of a related federal mandate where a school district was forced to adopt a race-blind lottery system for its magnet schools. Lottery-estimated magnet school returns fall substantially under race-blind admissions. I explore a plausible mechanism: the dramatic increase [...]