Simone Traini

TL;DR: This study examines the impact of customer tax uncertainty on supplier investment decisions, revealing that uncertainty can lead to reduced investment, while tax certainty can foster increased investment and improved supplier-customer relationships.

Abstract: This study empirically examines the relation between blockchain adoption and investment efficiency. Using a difference-in-differences approach with a sample of U.S. listed firms that indicate adoption of blockchain in business processes in 8-K filings during 2014 to 2019, we find that relative to non-adopters, blockchain adopters exhibit increased investment efficiency (as reflected in higher investment-price sensitivity) after adoption. We further find that only firms with poor information environments experience increased investment efficiency following blockchain adoption. These results suggest that potential improvements in firms’ overall information transparency and quality could be a channel through which blockchain adoption enhances investment efficiency

TL;DR: This paper explored the relation between foreign institutional ownership and corporate tax planning and found that the presence of foreign institutional investors plays a disciplinary role by leading corporate managers to engage in a level of tax planning consistent with the average tax position of the company's country and industry peers.