This is a past event
The seminar will be held on campus in the University Office Committee Room 2 and via MS Teams on Feburary 7th from 3pm - 4:15pm.
Hear from Dr Daniel Gyimah, a Senior Lecturer (Associate Professor) in Finance at the University of Aberdeen.
Author(s): Patrick Kwashie Akorsu, Clement Lamboi Arthur, Daniel Gyimah, Albert Kwame Mensah
Abstract: "Utilizing a shock to the Securities and Exchange Commission’s scrutiny of US-cross-listed firms around the signing of a Multilateral Memorandum of Understanding (MMoU) by securities regulators across the globe, this study investigates the impact of cross-border regulatory cooperation in the enforcement of securities laws on an important managerial diversion activity—tax avoidance. We find, relative to non-US-cross-listed firms, a decline in the tax avoidance propensity of US-cross-listed firms following the signing of the MMoU. These effects are more pronounced for signatory-country firms with weaker firm-level governance, as well as those domiciling in countries with weaker enforcement and higher corruption. Lastly, we find evidence that, following the signing of the MMoU, US-cross-listed firms are less likely to use the strategy of less geographic disclosure of their foreign operations to mask tax avoidance practices. Overall, our evidence suggests that cross-border regulatory cooperation helps align incentives of managers and shareholders of foreign firms cross-listed on US exchanges."
- Speaker
- Dr Daniel Gyimah
- Hosted by
- University of Aberdeen
- Contact
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No booking required.