00474nas a2200157   4500008004100000245004800041210004800089260000900137300001400146490000700160653001500167653001200182100001800194700001600212856008800228       2023                        eng d00aCorporate Reputation and Hedging Activities0 aCorporate Reputation and Hedging Activities  c2023  a1223-12470 v6310aAccounting10aFinance1 aDeng, Junfang1 aYang, Jimmy  u/biblio/corporate-reputation-and-hedging-activities01656nas a2200145   4500008004100000245006900041210006700110260000900177490000700186520116200193653001501355100001801370700001801388856010401406       2021                        eng d00aIncome Shifting and U.S. International Trade in Goods Statistics0 aIncome Shifting and US International Trade in Goods Statistics  c20210 v403 aIntrafirm trade represents greater than one-third of total U.S. international trade in goods. Since these are not arm’s-length transactions, trade policymakers have voiced concerns that income shifting may distort international trade in goods statistics through the manipulation of transfer prices. Using country-level data on intrafirm exports and imports, we estimate a path analysis that simultaneously tests how and to what extent tax-motivated transfer pricing and real investment decisions affect intrafirm trade in goods statistics. Contrary to speculation, we do not find an economically significant relation between transfer pricing and intrafirm trade in goods statistics. In contrast, we find that tax-motivated location decisions create a 21 (20) percent or $819.7 ($927.1) million difference in mean intrafirm exports (imports) between the U.S. and a low- and high-tax country. This study provides trade policymakers with relevant information about the extent to which real investment decisions and accounting manipulations affect intrafirm trade in goods statistics and contributes to the international trade and income shifting literatures.10aAccounting1 aDeng, Junfang1 aLaux, Rick, C  u/biblio/income-shifting-and-us-international-trade-goods-statistics01333nas a2200181   4500008004100000245006900041210006800110260000900178300000900187490000700196520081900203653001501022100001801037700001801055700001501073700002301088856004001111       2021                        eng d00aProprietary Costs and the Reporting of Segment-level Tax Expense0 aProprietary Costs and the Reporting of Segmentlevel Tax Expense  c2021  a1-260 v433 aWe examine whether proprietary costs of disclosure affect the reporting of segment-level tax expense. Current accounting rules for segment-level reporting afford managers significant discretion in what line items to report. We predict and find firms with higher proprietary costs of disclosure (i.e., higher tax avoidance) are less likely to disclose segment-level tax information. These results are stronger for firms that define business segments on a geographic basis, where disclosure could reveal tax expense information about specific tax jurisdictions, consistent with the proprietary cost hypothesis. Overall, our results suggest some managers potentially use discretion in current guidance to avoid segment-level disclosure of taxes when these disclosures have the potential to be detrimental to the firm.10aAccounting1 aDeng, Junfang1 aSteele, Logan1 aLynch, Dan1 aGaertner, Fabio, B  uhttps://doi.org/10.2308/JATA-19-00201320nas a2200145   4500008004100000245007900041210006900120260000900189300001200198490000700210520086000217653001501077100001801092856006401110       2020                        eng d00aForeign Exchange Risk, Hedging, and Tax-Motivated Outbound Income Shifting0 aForeign Exchange Risk Hedging and TaxMotivated Outbound Income S  c2020  a953-9870 v583 aAlthough outbound income shifting to low‐tax jurisdictions provides tax savings, it is often accompanied by nontax costs. In this study, I examine whether foreign exchange (FX) risk constrains tax‐motivated outbound income shifting by U.S. multinational corporations. My findings indicate that exposure to greater currency volatility is associated with less outbound income shifting, and this effect is stronger for firms with foreign affiliates using foreign functional currencies. I also investigate whether hedging facilitates outbound income shifting. Consistent with hedging lowering costs associated with exchange rate volatility, I find that U.S. firms that use more currency derivatives tend to shift more income to low‐tax foreign jurisdictions. Overall, these findings suggest that FX risk is an important cost of outbound income shifting.10aAccounting1 aDeng, Junfang  uhttps://onlinelibrary.wiley.com/doi/10.1111/1475-679X.12326