--- _id: '37070' author: - first_name: Bianca full_name: Beyer, Bianca last_name: Beyer - first_name: Vanessa full_name: Flagmeier, Vanessa id: '8084' last_name: Flagmeier - first_name: Urska full_name: Kosi, Urska id: '54068' last_name: Kosi citation: ama: Beyer B, Flagmeier V, Kosi U. Does Private Firms’ Disclosure Affect Public Peers’ Information Environment?; 2022. apa: Beyer, B., Flagmeier, V., & Kosi, U. (2022). Does private firms’ disclosure affect public peers’ information environment? bibtex: '@book{Beyer_Flagmeier_Kosi_2022, title={Does private firms’ disclosure affect public peers’ information environment?}, author={Beyer, Bianca and Flagmeier, Vanessa and Kosi, Urska}, year={2022} }' chicago: Beyer, Bianca, Vanessa Flagmeier, and Urska Kosi. Does Private Firms’ Disclosure Affect Public Peers’ Information Environment?, 2022. ieee: B. Beyer, V. Flagmeier, and U. Kosi, Does private firms’ disclosure affect public peers’ information environment? 2022. mla: Beyer, Bianca, et al. Does Private Firms’ Disclosure Affect Public Peers’ Information Environment? 2022. short: B. Beyer, V. Flagmeier, U. Kosi, Does Private Firms’ Disclosure Affect Public Peers’ Information Environment?, 2022. date_created: 2023-01-17T12:24:02Z date_updated: 2023-01-17T13:36:09Z department: - _id: '635' - _id: '186' - _id: '551' language: - iso: eng status: public title: Does private firms’ disclosure affect public peers’ information environment? type: working_paper user_id: '88603' year: '2022' ... --- _id: '5101' abstract: - lang: eng text: Prior literature finds that International Financial Reporting Standards (IFRS) adopters enjoy lower financing costs subsequent to IFRS adoption. We predict and find that mandatory IFRS adopters exploit lower financing costs to increase market share vis-à-vis non-adopters. This effect is robust across several different model specifications in a sample capturing the universe of public and private firms in the EU, in a matched sample of public and private firms, and in a public firm sample comparing mandatory and voluntary IFRS adopters. We further find that IFRS is associated with an increase (decrease) in industry sales concentration (competition), consistent with large public firms increasing market share. In supplemental analyses, we find that mandatory adopters issue more equity and debt after IFRS adoption and that larger market share gains accrue to those mandatory IFRS adopters that issue more equity and debt after IFRS adoption. Overall, we provide evidence of unintended product market consequences of IFRS adoption. author: - first_name: Jimmy F full_name: Downes, Jimmy F last_name: Downes - first_name: Vanessa full_name: Flagmeier, Vanessa id: '8084' last_name: Flagmeier - first_name: David full_name: Godsell, David last_name: Godsell citation: ama: Downes JF, Flagmeier V, Godsell D. Product market effects of IFRS adoption. Journal of Accounting and Public Policy. 2018;37(5):376-401. doi:10.1016/j.jaccpubpol.2018.09.004 apa: Downes, J. F., Flagmeier, V., & Godsell, D. (2018). Product market effects of IFRS adoption. Journal of Accounting and Public Policy, 37(5), 376–401. https://doi.org/10.1016/j.jaccpubpol.2018.09.004 bibtex: '@article{Downes_Flagmeier_Godsell_2018, title={Product market effects of IFRS adoption}, volume={37}, DOI={10.1016/j.jaccpubpol.2018.09.004}, number={5}, journal={Journal of Accounting and Public Policy}, publisher={Elsevier}, author={Downes, Jimmy F and Flagmeier, Vanessa and Godsell, David}, year={2018}, pages={376–401} }' chicago: 'Downes, Jimmy F, Vanessa Flagmeier, and David Godsell. “Product Market Effects of IFRS Adoption.” Journal of Accounting and Public Policy 37, no. 5 (2018): 376–401. https://doi.org/10.1016/j.jaccpubpol.2018.09.004.' ieee: J. F. Downes, V. Flagmeier, and D. Godsell, “Product market effects of IFRS adoption,” Journal of Accounting and Public Policy, vol. 37, no. 5, pp. 376–401, 2018. mla: Downes, Jimmy F., et al. “Product Market Effects of IFRS Adoption.” Journal of Accounting and Public Policy, vol. 37, no. 5, Elsevier, 2018, pp. 376–401, doi:10.1016/j.jaccpubpol.2018.09.004. short: J.F. Downes, V. Flagmeier, D. Godsell, Journal of Accounting and Public Policy 37 (2018) 376–401. date_created: 2018-10-31T06:59:36Z date_updated: 2022-01-06T07:01:38Z department: - _id: '551' - _id: '189' doi: 10.1016/j.jaccpubpol.2018.09.004 intvolume: ' 37' issue: '5' jel: - D43 - G32 - G38 keyword: - Financial reporting regulationProduct market competition language: - iso: eng page: 376-401 publication: Journal of Accounting and Public Policy publication_status: published publisher: Elsevier status: public title: Product market effects of IFRS adoption type: journal_article user_id: '64756' volume: 37 year: '2018' ... --- _id: '3540' abstract: - lang: eng text: 'We examine whether companies voluntarily disclose additional information about tax loss carryforwards when the recoverability is more uncertain. With this study, we aim to explain part of the huge cross-sectional variation in the tax footnote. To assess disclosure behavior, we hand-collect data from notes of large German firms’ IFRS financial statements and identify voluntarily disclosed information. First, our results support prior literature’s evidence of a considerable cross-sectional variation of disclosure in the tax footnote. Second, we find that uncertainty about the usability of tax losses has a significantly positive relation to the amount and quality of disclosure, controlling for other disclosure determinants derived from prior literature and for sample selection. Third, our results indicate that the observed disclosure behavior is not simply a reflection of the firm’s general disclosure behavior but specific to the tax footnote. These findings are robust to several historic and forward-looking indicators representing uncertainty. Our findings suggest that managers anticipate the investors’ need for more private information and disclose them voluntarily to reduce information asymmetries. This result indicates that part of the cross-sectional variation in the tax footnote can be explained by firms anticipating investors’ demand for additional information. ' author: - first_name: Vanessa full_name: Flagmeier, Vanessa id: '8084' last_name: Flagmeier - first_name: Jens full_name: Müller, Jens id: '1245' last_name: Müller citation: ama: Flagmeier V, Müller J. Tax Loss Carryforward Disclosure and Uncertainty.; 2017. apa: Flagmeier, V., & Müller, J. (2017). Tax loss carryforward disclosure and uncertainty. bibtex: '@book{Flagmeier_Müller_2017, title={Tax loss carryforward disclosure and uncertainty}, author={Flagmeier, Vanessa and Müller, Jens}, year={2017} }' chicago: Flagmeier, Vanessa, and Jens Müller. Tax Loss Carryforward Disclosure and Uncertainty, 2017. ieee: V. Flagmeier and J. Müller, Tax loss carryforward disclosure and uncertainty. 2017. mla: Flagmeier, Vanessa, and Jens Müller. Tax Loss Carryforward Disclosure and Uncertainty. 2017. short: V. Flagmeier, J. Müller, Tax Loss Carryforward Disclosure and Uncertainty, 2017. date_created: 2018-07-11T07:43:16Z date_updated: 2022-01-06T06:59:22Z department: - _id: '551' - _id: '189' language: - iso: eng page: '56' publication_status: published status: public title: Tax loss carryforward disclosure and uncertainty type: working_paper user_id: '64756' year: '2017' ... --- _id: '3545' abstract: - lang: eng text: This is the first study that analyzes the predictive ability of deferred tax information under IFRS. I examine whether deferred taxes provide information about future tax payments and future performance, using a German sample of IFRS firms. The focus on tax loss carryforwards enables a separation of the two relations, testing on the one hand, the relation between recognized deferred tax assets and future tax payments and on the other hand, the relation between the non-usable part of tax losses and future earnings. I find significantly negative coefficients for both deferred tax items, indicating that higher recognized deferred tax assets are associated with lower future tax payments and higher non-usable tax loss carryforwards with lower future performance. Additionally, I compare the tax accounts' predictive ability for a matched German and US sample and find no significant differences between firms reporting under IFRS and US-GAAP. Taken together, the evidence suggests that deferred tax items for tax loss carryforwards reported under IFRS provide useful information about future outcomes and that this predictive ability does not differ significantly from firms reporting under US-GAAP. author: - first_name: Vanessa full_name: Flagmeier, Vanessa id: '8084' last_name: Flagmeier citation: ama: 'Flagmeier V. The Information Content of Tax Loss Carryforwards: IAS 12 vs. Valuation Allowance.; 2017.' apa: 'Flagmeier, V. (2017). The information content of tax loss carryforwards: IAS 12 vs. valuation allowance.' bibtex: '@book{Flagmeier_2017, title={The information content of tax loss carryforwards: IAS 12 vs. valuation allowance}, author={Flagmeier, Vanessa}, year={2017} }' chicago: 'Flagmeier, Vanessa. The Information Content of Tax Loss Carryforwards: IAS 12 vs. Valuation Allowance, 2017.' ieee: 'V. Flagmeier, The information content of tax loss carryforwards: IAS 12 vs. valuation allowance. 2017.' mla: 'Flagmeier, Vanessa. The Information Content of Tax Loss Carryforwards: IAS 12 vs. Valuation Allowance. 2017.' short: 'V. Flagmeier, The Information Content of Tax Loss Carryforwards: IAS 12 vs. Valuation Allowance, 2017.' date_created: 2018-07-11T09:52:12Z date_updated: 2022-01-06T06:59:23Z department: - _id: '551' - _id: '189' language: - iso: eng status: public title: 'The information content of tax loss carryforwards: IAS 12 vs. valuation allowance' type: working_paper user_id: '64756' year: '2017' ... --- _id: '4702' author: - first_name: Vanessa full_name: Flagmeier, Vanessa id: '8084' last_name: Flagmeier - first_name: Jens full_name: Müller, Jens id: '1245' last_name: Müller - first_name: Caren full_name: Sureth-Sloane, Caren id: '530' last_name: Sureth-Sloane citation: ama: Flagmeier V, Müller J, Sureth-Sloane C. When Do Managers Highlight Their Effective Tax Rate? Vol 214.; 2017. doi:arqus Working Paper No. 214 apa: Flagmeier, V., Müller, J., & Sureth-Sloane, C. (2017). When Do Managers Highlight Their Effective Tax Rate? (Vol. 214). https://doi.org/arqus Working Paper No. 214 bibtex: '@book{Flagmeier_Müller_Sureth-Sloane_2017, series={arqus Working Paper}, title={When Do Managers Highlight Their Effective Tax Rate?}, volume={214}, DOI={arqus Working Paper No. 214}, author={Flagmeier, Vanessa and Müller, Jens and Sureth-Sloane, Caren}, year={2017}, collection={arqus Working Paper} }' chicago: Flagmeier, Vanessa, Jens Müller, and Caren Sureth-Sloane. When Do Managers Highlight Their Effective Tax Rate? Vol. 214. Arqus Working Paper, 2017. https://doi.org/arqus Working Paper No. 214. ieee: V. Flagmeier, J. Müller, and C. Sureth-Sloane, When Do Managers Highlight Their Effective Tax Rate?, vol. 214. 2017. mla: Flagmeier, Vanessa, et al. When Do Managers Highlight Their Effective Tax Rate? Vol. 214, 2017, doi:arqus Working Paper No. 214. short: V. Flagmeier, J. Müller, C. Sureth-Sloane, When Do Managers Highlight Their Effective Tax Rate?, 2017. date_created: 2018-10-12T08:35:31Z date_updated: 2022-01-06T07:01:19Z department: - _id: '187' - _id: '189' - _id: '551' - _id: '635' doi: arqus Working Paper No. 214 intvolume: ' 214' language: - iso: eng series_title: arqus Working Paper status: public title: When Do Managers Highlight Their Effective Tax Rate? type: working_paper user_id: '68607' volume: 214 year: '2017' ...