Taxable Income as a Performance Measure: The Effects of Tax Planning and Earnings Quality
Taxable Income as a Performance Measure: The Effects of Tax Planning and Earnings Quality
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应税收入作为绩效衡量标准：税收筹划和盈利质量的影响
DOI：
10.1506/car.26.1.1
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发表时间：
2008
期刊：
影响因子：
--
通讯作者：
S. Laplante
中科院分区：
文献类型：
--
作者：
Benjamin C. Ayers;John (Xuefeng) Jiang;S. Laplante
现有研究表明，账面税差异是评估公司业绩的有用指标。然而，几乎没有证据表明应税收入可以作为账面收入的替代绩效衡量标准。我们研究减轻或增强应税收入向投资者通报公司业绩能力的公司特征。我们发现，高税收筹划公司的估计应税收入与账面收入的相对和增量信息含量较低，而盈利质量较低的公司则较高。我们的结果表明，税收筹划和低收入质量对估计应税收入的信息内容具有相反的影响。这些发现与最近的研究相关，该研究将账面税差异作为盈利质量的衡量标准，并将应税收入作为替代绩效衡量标准。
Extant research suggests that book-tax differences are useful measures in evaluating firm performance. There is little evidence, however, regarding taxable income as an alternative performance measure to book income. We examine firm characteristics that mitigate or enhance the ability of taxable income to inform investors regarding firm performance. We find that the relative and incremental information content of estimated taxable income to book income is lower for high tax planning firms and higher for low earnings quality firms. Our results suggest that tax planning and low earnings quality have contrasting effects on the information content of estimated taxable income. These findings are pertinent to recent research examining book-tax differences as a measure of earnings quality and taxable income as an alternative performance measure.