Show simple item record

dc.contributor.advisorMcGuire, Sean T
dc.creatorRane, Scott Gregory
dc.date.accessioned2020-09-11T15:34:44Z
dc.date.created2019-12
dc.date.issued2019-08-14
dc.date.submittedDecember 2019
dc.identifier.urihttps://hdl.handle.net/1969.1/189166
dc.description.abstractThis study examines the influence of tax policy on corporate behavior. Changes in tax policy can provide cash windfalls to firms in the form of cash tax savings. However, identifying a setting with a tax-related cash windfall that is distinct from other tax policy changes is difficult. I exploit a unique natural experiment and examine whether the implementation of the Tip Credit in the restaurant industry influenced corporate investment and payout behavior. I find that Tip Credit firms increased investment and were more likely to increase payout to shareholders following the implementation of the credit, relative to control firms. I also find that firms increased payout in the form of repurchases. Further analysis suggests that the relation between the implementation of the Tip Credit and firm behavior varies with firm financial constraints. Overall, these findings suggest that tax policy changes can have an important impact on business decisions.
dc.format.mimetypeapplication/pdf
dc.language.isoen
dc.subjectCorporate Tax Policy
dc.subjectTax Credits
dc.subjectInvestment
dc.subjectPayout Policy
dc.subjectCash Windfall
dc.subjectFinancial Constraints
dc.titleHow Does Tax Policy Influence Corporate Behavior? Evidence from the Restaurant Industry
dc.typeThesis
thesis.degree.departmentAccounting
thesis.degree.disciplineBusiness Administration
thesis.degree.grantorTexas A&M University
thesis.degree.nameDoctor of Philosophy
thesis.degree.levelDoctoral
dc.contributor.committeeMemberRice, Sarah C
dc.contributor.committeeMemberRobinson, John R
dc.contributor.committeeMemberWeaver, Connie D
dc.contributor.committeeMemberBouwman, Christa HS
dc.type.materialtext
dc.date.updated2020-09-11T15:34:45Z
local.embargo.terms2021-12-01
local.embargo.lift2021-12-01
local.etdauthor.orcid0000-0002-5154-9330


Files in this item

Thumbnail

This item appears in the following Collection(s)

Show simple item record