---
res:
  bibo_abstract:
  - This study examines the visibility of the GAAP effective tax rate (ETR) in firms’
    financial statements as a distinct disclosure choice. Applying a game-theory disclosure
    model for voluntary disclosure strategies of firms to a tax setting, we argue
    that firms face a trade-off in their ETR disclosure decisions. On the one hand,
    firms have an incentive to enhance their ETR disclosure when the ratio offers
    shareholders “favourable conditions”, for example in terms of higher expected
    after-tax cash-flows. On the other hand, the disclosure of a favourable low ETR
    could attract the attention of tax auditors and the public and ultimately result
    in disclosure costs. We empirically test disclosure behaviour by examining the
    relation between disclosure visibility and different ETR conditions that reflect
    different stakeholder specific costs and benefits. While we find that unfavourable
    ETR conditions are not highlighted, we observe higher disclosure visibility for
    favourable ETRs (smooth, close to the industry average, decreasing). Additional
    analyses reveal that this high visibility is characteristic of firm-years with
    only moderately decreasing ETRs at usual ETR levels, while extreme ETRs are not
    highlighted. Interestingly and in contrast to our main results, a subsample of
    family firms do not seem to highlight favourable ETRs.@eng
  bibo_authorlist:
  - foaf_Person:
      foaf_givenName: Vanessa
      foaf_name: Flagmeier, Vanessa
      foaf_surname: Flagmeier
  - foaf_Person:
      foaf_givenName: Jens
      foaf_name: Müller, Jens
      foaf_surname: Müller
      foaf_workInfoHomepage: http://www.librecat.org/personId=1245
  - foaf_Person:
      foaf_givenName: Caren
      foaf_name: Sureth-Sloane, Caren
      foaf_surname: Sureth-Sloane
      foaf_workInfoHomepage: http://www.librecat.org/personId=530
  bibo_volume: No. 37
  dct_date: 2020^xs_gYear
  dct_language: eng
  dct_title: When Do Firms Highlight Their Effective Tax Rate?@
...