TY  - JOUR
AU  - Shackelford,Douglas A.
AU  - Slemrod,Joel
AU  - Sallee,James M.
TI  - A Unifying Model of How the Tax System and Generally Accepted Accounting Principles Affect Corporate Behavior
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 12873
PY  - 2007
Y2  - January 2007
UR  - http://www.nber.org/papers/w12873
L1  - http://www.nber.org/papers/w12873.pdf
N1  - Author contact info:
Douglas Shackelford
University of North Carolina at Chapel Hill
Kenan-Flagler Business School
Campus Box 3490, McColl Building
Chapel Hill, NC  27599-3490
Tel: 919/962-3197
Fax: 919/962-4727
E-Mail: doug_shack@unc.edu

Joel Slemrod
University of Michigan Business School
701 Tappan Street
Room R5396
Ann Arbor, MI  48109-1234
Tel: 734/936-3914
Fax: 734-615-4323
E-Mail: jslemrod@umich.edu

James M. Sallee
Harris School of Public Policy Studies
University of Chicago
1155 East 60th Street
Chicago, IL 60637
Tel: 773/316-3480
Fax: 773/702-2286
E-Mail: sallee@uchicago.edu
M3  - presented at "Financial Reporting and Taxation Conference", December 7, 2006
AB  - This paper models the impact of the tax system and GAAP on the real and financial reporting decisions of corporations.  It provides a first step toward joint evaluation of taxation and financial reporting in the standard economic analyses of corporate behavior.  The key finding is that value arises from real decisions that provide firms with discretion in their tax and financial reporting.  This desire for flexibility modifies the optimal decisions of firms, in theory, and we provide examples that illustrate this behavior in the real world.
ER  -