scholarly journals Schedule UTP: Stock Price Reaction and Economic Consequences

2012 ◽  
Author(s):  
John L. Abernathy ◽  
Stephan Davenport ◽  
Eric T. Rapley
Keyword(s):  
Stock Price ◽  
Economic Consequences ◽  
Price Reaction ◽  
Stock Price Reaction

scholarly journals Schedule UTP: Stock Price Reaction and Economic Consequences

2012 ◽  
Vol 35 (1) ◽  
pp. 25-48 ◽  
Author(s):  
John L. Abernathy ◽  
Stephan A. Davenport ◽  
Eric T. Rapley
Keyword(s):  
Stock Returns ◽  
Stock Price ◽  
Tax Planning ◽  
Economic Consequences ◽  
Internal Revenue Service ◽  
Price Reaction ◽  
Tax Returns ◽  
Stock Price Reaction ◽  
Planning Strategies ◽  
Tax Benefits

ABSTRACT: In 2010, the Internal Revenue Service (IRS) announced the requirement to disclose uncertain tax positions (UTP) on a new schedule (Schedule UTP) to be filed with federal corporate income tax returns. Schedule UTP could increase a firm's tax burden by providing a roadmap for the IRS to identify firms' tax-planning strategies. We find that stock returns around the development of Schedule UTP are negative, consistent with investors' concern that Schedule UTP would impose costs on firms. However, we document a significant positive stock price reaction to the release of the final draft of Schedule UTP in which the IRS relaxed many of the controversial provisions of Schedule UTP. Additionally, we find this positive reaction is incrementally larger for more tax-aggressive firms. Finally, we find a significant decrease in reported unrecognized tax benefits (UTBs) and additions to UTBs after the adoption of Schedule UTP in 2010.

Stock price reaction to cash dividend announcements in Vietnam

2017 ◽  
Vol 24 (2) ◽  
pp. 74-89
Author(s):  
NGUYEN THI VAN ANH ◽  
NGUYEN XUAN TRUONG ◽  
DAO MAI HUONG
Keyword(s):  
Stock Price ◽  
Cash Dividend ◽  
Price Reaction ◽  
Dividend Announcements ◽  
Stock Price Reaction

Stock Price Reaction to Debt Offerings: The Turkish Evidence

2020 ◽  
Author(s):  
Evrim Akdogu ◽  
Sureyya Avci ◽  
Serif Aziz Simsir
Keyword(s):  
Stock Price ◽  
Price Reaction ◽  
Stock Price Reaction
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