...Shane Heitzman; Rebecca Lester ABSTRACT We examine the relation between corporate cash holdings and tax net operating loss carryforwards (NOLs). The literature demonstrates that firms should distribute cash to shareholders rather than retain it and generate passive investment income taxed at both...

...Christine L. Dobridge ABSTRACT This paper studies effects of the five-year net operating loss carryback enacted near the ends of the 2001 and 2007–2009 U.S. recessions—a policy that gave firms larger U.S. federal tax refunds as a fiscal stimulus measure. Following the end of the 2001 recession, I...

... by Edward L. Maydew, under the Senior Editorship of Mark L. DeFond. April 2016 July 2017 2018 corporate taxation risk-taking net operating losses This study examines the risk-taking effects of both tax rates and tax loss rules, which permit firms to use losses to reduce...

... to reduce expected tax liabilities. Net operating loss provisions contained in the tax code partially mitigate this asymmetry. To illustrate, a firm that paid taxes in the recent past can claim a refund of those taxes in a year in which it reports a loss. This is achieved through tax loss carryback...