The Effects of Alternative State Regimes on Firms' Accounting and Financing Decisions.
研究美国加州、密歇根和得克萨斯三州不同税制如何影响企业管理者对债务和应计项目的决策，发现州税会影响应计决策，对税收立法者有参考价值。
Abstract This paper examines three states, which impose three different types of taxes on corporations at the state level in the U.S., that are, California, Michigan, and Texas. Decisions made by firm managers in each state are compared to find evidence of the effects of differing tax regimes. Specifically, this paper examines the relation between state tax regimes and the level of debt and discretionary accruals. Previous studies of state tax regimes have focused primarily on how state and local taxes influence business location decisions. Other studies have investigated the impact of federal taxes on management decisions regarding debt levels, compensation, dividends, investments, organizational forms and accounting method choices. This study expands this literature by examining how management decisions about debt and accounting methods are affected by state taxes. The results indicate that state taxes affect managers' accrual decision. Inasmuch, state tax legislators should consider the effects of State taxes on firms before making changes in tax law.