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dc.contributor.authorRahman, Mahmud
dc.date.accessioned2019-11-01T13:42:58Z
dc.date.available2019-11-01T13:42:58Z
dc.identifier.urihttp://hdl.handle.net/10464/14559
dc.description.abstractI investigate the market reaction to the events leading up to the passage of the Tax Cuts and Jobs Act of 2017 (TCJA) using short and long window event studies. Using the sample of S&P 1,500 firms, I find positive market reaction to the enactment of the TCJA only in one short window; market reaction to other windows remains weak. This study documents that firms with high marginal tax rate have positive market reaction only in one long window. Further investigation reveals that for the firms with deferred tax assets the market reaction is positive only in one short window and in another long window market reaction is negative. I also find weak evidence that firms with high deferred tax liabilities have a positive market reaction to the passage of the TCJA. In addition, I document that firms with high executive compensation record negative market reactions in the short windows, but no market reaction in the long windows. I finally find that market reaction to the marginal tax rate varies with firm corporate governance only in one short window. Overall, my study contributes to the existing tax and accounting literature by examining investor reaction to the passage of TCJA based on dominant firm characteristics such as marginal tax rates, corporate governance structures, the nature of deferred taxes, and the level of executive compensation for events leading to and after the passage of the Act.en_US
dc.language.isoengen_US
dc.publisherBrock Universityen_US
dc.subjectAccountingen_US
dc.titleMarket Reaction to the Passage of the Tax Cuts and Jobs Act of 2017en_US
dc.typeElectronic Thesis or Dissertationen
dc.degree.nameM.Sc. Managementen_US
dc.degree.levelMastersen_US
dc.contributor.departmentFaculty of Business Programsen_US
dc.degree.disciplineFaculty of Businessen_US
refterms.dateFOA2021-08-12T01:48:16Z


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