... private firms corporate tax We examine whether private C corporations engage in more aggressive tax planning than public C corporations. ^{1 , 2} Private firms have long been thought to be less inhibited by nontax costs of tax planning...

..., and Mayew (2012) find an increase in post-TRA86 market value for the high tax preference firms, consistent with a decrease in pretax economic returns that is reflected in asset values rather than cash flows. To the extent the incidence of a corporate tax rate change is not completely shifted...