Can Paying “Too Much” or “Too Little” Tax Contribute to Forced CEO Turnover?

We thank Edward Fee, Charles Hadlock, and Joshua Pierce for allowing us to use their data of forced and unforced CEO departures. We are grateful for helpful comments from Edward L. Maydew (editor), two anonymous reviewers, Qiang Cheng, Alex Edwards, John Gallemore, Michelle Harding, Erin Henry, Jeff Hoopes, Christina Lewellen, Brad Lindsay, Dan Lynch, Rick Morton, John Robinson (NTA discussant), Terry Shevlin, Tom Linsmeier, Jake Thornock, Erin Towery, Steven Utke (ATA discussant); workshop participants at the University of Wisconsin–Madison, North Carolina State University, and Florida State University; participants at the 2015 NTA Annual Conference on Taxation, participants at The University of Arizona Tax Reading Group, and participants at the 2016 ATA Midyear Meeting. We are thankful for the financial support of our respective institutions: The University of Tennessee (James A. Chyz) and University of Wisconsin–Madison (Fabio B. Gaertner).

In memory of Dan Dhaliwal, we jointly acknowledge his guidance and mentorship during our studies at The University of Arizona and throughout our early careers.

Editor's note: Accepted by Edward L. Maydew, under the Senior Editorship of Mark L. DeFond.