... and therefore a useful screening mechanism. The Accounting Review Volume XX, Number XX, 20XX risk profile risk-taking incentives debt contracting debt covenants covenant violations agency conflicts risk shifting moral hazard adverse selection screening 2025 29 04 2021 11 04 2025...

...Harald J. Amberger; Kevin S. Markle; David M. P. Samuel ABSTRACT Using a global sample of multinational corporations (MNCs) and their foreign subsidiaries, we find that repatriation taxes impair subsidiary-level investment efficiency. Consistent with internal agency conflicts between the central...

...Tong Lu; Haresh Sapra; Ajay Subramanian ABSTRACT We show how shareholder-debtholder agency conflicts interact with strategic reporting under asymmetric information to influence bank regulation. Relative to a benchmark unregulated economy, higher capital requirements mitigate inefficient asset...

... corporate risk-taking risky investment risk-taking incentives personal income taxes federal income taxes state income taxes agency conflicts Fiscal policy—and taxation in particular—is one of the most important tools that policymakers can use to influence the economy. While the effect...