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Publication date: 8 August 2014

Karen Pierce, Ted D. Englebrecht and Wei-Chih Chiang

This study examines whether Revenue Procedure 2003-61 is an improvement over Revenue Procedure 2000-15, in the areas of taxpayers’ expectations for IRS equitable relief decisions…

Abstract

This study examines whether Revenue Procedure 2003-61 is an improvement over Revenue Procedure 2000-15, in the areas of taxpayers’ expectations for IRS equitable relief decisions and gender-related in-group bias. The survey instrument includes a vignette adapted from a judicial decision. The results show that Rev. Proc. 2003-61 does improve upon Rev. Proc. 2000-15. Furthermore, taxpayers perceive different expectations of what the IRS should do and what the IRS would do in equitable relief decision making. Also, gender-related in-group biases are found to be present for both genders. Tax policy implications regarding equitable relief are discussed.

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Advances in Accounting Behavioral Research
Type: Book
ISBN: 978-1-78190-838-9

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Article
Publication date: 13 January 2012

Hui Di, Steven A. Hanke and Wei‐Chih Chiang

This paper aims to examine whether the substitution of employee stock options (ESOs) for debt occurs for firms with different tax status classifications throughout the conditional…

525

Abstract

Purpose

This paper aims to examine whether the substitution of employee stock options (ESOs) for debt occurs for firms with different tax status classifications throughout the conditional distribution of interest expense before and after the implementation of Statement of Financial Accounting Standard 123R (SFAS 123R).

Design/methodology/approach

This study uses Censored Quantile Regression (CQR) to assess whether the substitution effect is dependent on firms' position in the conditional distribution of interest expense. Our sample firms are categorized into two groups: one group (tax‐sensitive) that is sensitive to additional deductions due to a moderate income level and the other group (tax‐insatiable) that is not sensitive because of very high income level.

Findings

The substitution effect is not present for firms with below medium level of interest expense. Only tax‐sensitive firms substitute at medium levels of interest expense while both tax‐sensitive and tax‐insatiable firms substitute at high levels of interest expense. Tax‐insatiable firms with very high levels of interest expense also substitute; however, tax‐sensitive firms with very high levels of interest expense only substitute after SFAS 123R required firms to report ESO expense in financial statements. We attribute the substitution patterns revealed by the CQR analysis to a positive relationship between interest expense and cost of debt.

Originality/value

To the authors' knowledge, this is the first paper to analyze firms' tax status classification impact on the substitution of ESO expense for interest expense across different levels of interest expense. Our application of CQR should benefit researchers who are interested in examining explanatory variables' impact at various points in the conditional distribution of the dependent variable. This study also refines the conjecture that ESOs are substitutes for debt by demonstrating that such relationship is dependent on the level of interest expense and tax status. Furthermore, the finding of firms substituting ESOs for debt provides accounting standard setters a reason to begin requiring firms to re‐measure the value of ESOs after the grant date until the exercise date.

Details

Managerial Finance, vol. 38 no. 2
Type: Research Article
ISSN: 0307-4358

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Book part
Publication date: 7 August 2013

Abstract

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Advances in Accounting Behavioral Research
Type: Book
ISBN: 978-1-78190-838-9

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Article
Publication date: 3 June 2014

Anand Jha, Siddharth Shankar and Leonard Arvi

The purpose of this paper is to use a unique hand-collected data set from India to investigate whether firms with multiple banking relationships that are in bankruptcy get…

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Abstract

Purpose

The purpose of this paper is to use a unique hand-collected data set from India to investigate whether firms with multiple banking relationships that are in bankruptcy get additional loans more easily than those with a single banking relationship. The authors find that firms that have a single banking relationship increase their bank borrowing by 5 percent every year compared to those with multiple banking relationships. The results are in contrast to the hypothesis that firms choose to have multiple banking relationships to increase the probability of getting additional loans in cases of financial distress. The results are consistent with the hypothesis that a larger number of banks increases the coordination and bargaining costs during bankruptcy and decreases the liquidation value of the assets, and that the banks take that into consideration before making loans.

Design/methodology/approach

Regression and control.

Findings

The choice of single vs multiple banking relationships is a widely studied topic in the banking literature. A large strand of theoretical and empirical literature argues that multiple banking relationships make it easier for a firm to get additional loans in case of financial distress. The study shows that such may not be the case in instances where bargaining and co-ordination costs due to poor bankruptcy procedures are severe.

Originality/value

The authors use a unique hand collected data set from India to investigate if it is easier to get additional loans in bankruptcy for firms with multiple banking relationships compared to those with a single banking relationship.

Details

Managerial Finance, vol. 40 no. 7
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 11 January 2021

Rahul Vishwanath Dandage, Santosh B. Rane and Shankar S. Mantha

Project risk management (PRM) and human resource management (HRM) are the two critical success factors (CSFs) for international project management. This paper aims to correlate…

1285

Abstract

Purpose

Project risk management (PRM) and human resource management (HRM) are the two critical success factors (CSFs) for international project management. This paper aims to correlate these two CSFs, identify the human resource (HR) barriers, develop a hybrid model for risk management and develop strategies to overcome the HR barriers to effective risk management in international projects.

Design/methodology/approach

In total, 20 key HR barriers have been identified through a literature survey and verified by project professionals. These HR barriers are ranked according to their ability to trigger other barriers by analysing their interactions using the decision-making trial and evaluation laboratory (DEMATEL) method. Based on Ulrich’s revised model for HR functions, a hybrid framework for international PRM has been proposed.

Findings

DEMATEL analysis categorized nine barriers as cause barriers and 11 as affected barriers. The “PROJECTS” model proposed for HR strategy development suggests eight strategies to overcome these nine cause barriers. The hybrid PRM framework developed includes the effect of the HR dimension.

Research limitations/implications

This paper presents the generalized prioritization of HR barriers to international PRM. For a specific international project, the HR barriers and their prioritization may change slightly. The hybrid framework for PRM and the strategy development model suggested are yet to be validated.

Originality/value

Correlating two CSFs in international project management, i.e. HRM and PRM and ranking the HR barriers using the DEMATEL method is the uniqueness of this research paper. The hybrid framework developed for PRM based on HR functions in Ulrich’s revised model and the proposed new HR strategy development model “PROJECTS” are unique contributions of this paper.

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