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The Effect of SEC Tax Comment Letter...

Cheng, Yang.

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The Effect of SEC Tax Comment Letters on Institutional Investors' Information Acquisition Activities and Corporate Disclosure.

Record Type:	Electronic resources : Monograph/item
Title/Author:	The Effect of SEC Tax Comment Letters on Institutional Investors' Information Acquisition Activities and Corporate Disclosure./
Author:	Cheng, Yang.
Published:	Ann Arbor : ProQuest Dissertations & Theses, : 2020,
Description:	128 p.
Notes:	Source: Dissertations Abstracts International, Volume: 81-10, Section: A.
Contained By:	Dissertations Abstracts International81-10A.
Subject:	Accounting. -
Online resource:	https://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=27981018
ISBN:	9798607322229

The Effect of SEC Tax Comment Letters on Institutional Investors' Information Acquisition Activities and Corporate Disclosure.
Cheng, Yang.

The Effect of SEC Tax Comment Letters on Institutional Investors' Information Acquisition Activities and Corporate Disclosure. - Ann Arbor : ProQuest Dissertations & Theses, 2020 - 128 p.

Source: Dissertations Abstracts International, Volume: 81-10, Section: A.

Thesis (Ph.D.)--Kent State University, 2020.

This item must not be sold to any third party vendors.

This study examines the effect of SEC tax comment letters on institutional investors' information acquisition activities and consequential tax disclosures. These two research questions are related to the SEC's mission to protect investors, which is the primary objective of the SEC's comment letter public release policy. Regarding the first research question, I find that institutional investors' information acquisition activities for tax-related comment letter conversations, which include recipient firms' responses, are greater than those for non-tax related conversations. Moreover, institutional investors are more likely to obtain comment-letter conversations for recipient firms that have appeared to be tax aggressive in both current and previous years. Institutional investors are more likely to obtain comment-letter conversations if the SEC comment letters include more uncertain tax topics. Regarding the second research question, I find a significant increase in the number of words in both tax footnotes and paragraphs but with slightly reduced readability, suggesting that managers modify the consequential tax disclosures with their own purposes.This research achieves several aims. First, the findings of this study contribute to the understanding of the consequences of receiving comment letters and their resolution. Second, this study contributes to the literature investigating investors' acquisition of tax-related information. This paper also contributes to tax information disclosure literature as well as to the literature on textual analysis in accounting and finance. The findings of this study will have implications for regulators, investors, and corporate managers.

ISBN: 9798607322229Subjects--Topical Terms:

557516
Accounting.
Subjects--Index Terms:

SEC tax comment letters

The Effect of SEC Tax Comment Letters on Institutional Investors' Information Acquisition Activities and Corporate Disclosure.
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