时间：2018年12月18日（周二）9:30—11:30

地点：同济大厦A楼208教室

主讲人：JIAN ZHOU, Professor, University of Hawaii at Manoa

题目：Lucky Employees: Who Is Sharing Tax Windfalls with Employees?

讲座摘要: In this paper, we investigate the characteristic of firms which share the tax windfalls with employees. The Tax Cuts and Jobs Act of 2017 has reduced the corporate tax rate from 35% to 21% and companies expect a tax windfall due to the tax cut. Some companies decide to share part of the tax windfall with their employees either through a one-time bonus or increase in base pay or both. Using a sample of S&P 1500 firms, we find that companies which benefited the most from the tax reduction (which have higher tax rates) are more likely to share the tax windfall with employees. We also find that companies with higher corporate social responsibility ranking are more likely to share tax windfall with employees. Large firms, lower leveraged firms are also more likely to share tax windfall. Our findings contribute to the tax research by documenting the determinants of employee sharing of tax windfalls.

报告人简介: Jian Zhou is currently a tenured Professor of Accounting at University of Hawaii at Manoa. He has also been serving as the Lloyd Fujie / Deloitte Foundation Distinguished Professor of Accounting since August 2012.

Professor Zhou has thirty-two papers published or forthcoming in journals such as Journal of Accounting and Economics, Contemporary Accounting Research (3 times), Journal of Financial and Quantitative Analysis, Auditing: A Journal of Practice & Theory, Journal of Accounting, Auditing and Finance, Journal of Accounting and Public Policy, Accounting Horizons, Economics Letters and Canadian Journal of Administrative Science.

Professor Zhou was listed among Social Science Research Network Top 185 Accounting Authors as of August 21, 2002 in Lawrence D. Brown and Indrarini Laksmana “Ranking Accounting Ph.D. Programs and Faculties Using Social Science Research Network Downloads” (Review of Quantitative Finance and Accounting, Vol. 22, pp. 249-266, 2004). His research has been cited in top-tier journals in accounting, finance, marketing, law and has been listed among readings in the PhD syllabus of Jere Francis (a top auditing researcher). His research has been cited more than 3,300 times according to Google Scholar and has been downloaded more than 39,700 times according to Social Science Research Network, which is very high in accounting. His research is also cited in a leading textbook (William Scott’s Financial Accounting Theory). His research is also featured in the Wall Street Journal and SmartMoney and has also been requested by the Public Company Accounting Oversight Board. His research is cited in a 2013 study by the United States Government Accountability Office in a Report to Congressional Committees. His research is also by the Staff of the Office of the Chief Accountant of the U.S. Securities and Exchange Commission in Study and Recommendations on Section 404(b) of the Sarbanes-Oxley Act of 2002 For Issuers With Public Float Between $75 and $250 Million. His research on voluntary internal control audit is also cited in a joint letter on September 20, 2011 and on May 1, 2017 from The Center for Audit Quality, the Council for Institutional Investors, and CFA Institute to the US Congress House Financial Services Committee.