| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27470 |
| 来源ID | Working Paper 27470 |
| The Tax Cuts and Jobs Act: Which Firms Won? Which Lost? | |
| Alexander F. Wagner; Richard J. Zeckhauser; Alexandre Ziegler | |
| 发表日期 | 2020-07-06 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | The Tax Cut and Jobs Act (TCJA) slashed corporations’ median effective tax rates from 31.7% to 20.8%. Nevertheless, 15% of firms experienced an increase. One fifth of firms recorded nonrecurring tax costs or benefits exceeding 3% of total assets. Proxies that existing studies employ to assess the TCJA’s impacts account for just half of actual impacts. Stock prices impounded those proxies during the legislative process. Total impacts were impounded the following year, once firms published their financials. These results indicate that investors find it hard to predict even large and immediate changes to company cash flows due to unfamiliar events. |
| 主题 | Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Markets ; Public Economics ; Taxation ; Development and Growth |
| URL | https://www.nber.org/papers/w27470 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/585143 |
| 推荐引用方式 GB/T 7714 | Alexander F. Wagner,Richard J. Zeckhauser,Alexandre Ziegler. The Tax Cuts and Jobs Act: Which Firms Won? Which Lost?. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w27470.pdf（2188KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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