State income taxes and team performance

International Tax and Public Finance - Professional athletes are both highly paid and highly mobile workers. Previous research has shown that athletes respond to state income taxes differentials...     

Operating Lease as Alternative Financing for REITs: a Viable Strategy or a Sign of Trouble?

The Journal of Real Estate Finance and Economics - Extant REIT research largely overlooks operating leases as an alternative source of financing. In this study, we hand-collect lease information of...     

IRS Private Letter Rulings: Initial Evidence on Determinants and Consequences

This study examines the determinants of firms' requests for Private Letter Rulings (PLRs) from the US Internal Revenue Service (IRS) and their impact on firms' cash holdings. Our results show that PLR requests tend to be made by firms with more active tax planning, more acquisitions, higher analyst following, higher leverage, and less in-house tax expertise. We also show that firms with IRS audit red flags are less likely to request a PLR. We use a difference-in-difference approach to assess changes in cash holdings following PLR requests and report a decrease in cash holdings for PLR firms, consistent with the notion that PLRs act to reduce tax uncertainty. Our study provides the first empirical evidence about the determinants of PLR requests and complements prior work on tax uncertainty and cash holdings (Hanlon, Maydew and Saavedra, 2017).     

Sustainability among Norwegian maritime firms: Green strategy and innovation as mediators of long-term orientation and emission reduction

This study investigates the relationships between emission reduction, long-term orientation, green strategy, and green innovation among maritime vessel-owning firms of various sizes in the Norwegian maritime sector. A change from the utilization of fossil fuels and move toward more sustainable sources of energy demand substantial financial investments and behavioral changes but are fundamental to preventing further climate change. This study examines the greening of the Norwegian fleet through a structural equation model based upon 246 survey responses. Although our model does not show a significant direct relationship between long-term orientation and emission reductions, we do find that long-term orientation is indirectly related to emission reductions because of its relationships with green strategy and green innovation. Moreover, as mediators, green innovation and green strategy share direct associations with firms' reductions of greenhouse gases and environmentally harmful emissions. Implications for practitioners and policy makers are proposed.     

The Struggle is Real: Insights from a Supply Chain Blockchain Case

Despite the anticipated benefits and the numerous announcements of pilot cases, we have seen very few successful implementations of blockchain technology (BCT) solutions in supply chains. Little is empirically known about the obstacles to blockchain adoption, particularly in a supply chain's interorganizational setting. In supply chains, blockchains' benefits, for example, BCT‐based tracking and tracing, are dependent on a critical mass of supply chain actors adopting the technology. While previous research has mainly been conceptual and has lacked both theory and empirical data, we propose a theory‐based model for interorganizational adoption of BCT. We use the proposed model to analyze a unique in‐depth revelatory case study. Our case study confirms previous conceptual work and reveals a paradox as well as several tensions between drivers for and against (positive and negative determining factors, respectively) of BCT adoption that must be managed in an interorganizational setting. In this vertical context, the adoption and integration decision of one supply chain actor recursively affects the adoption and integration decisions of the other supply chain actors. This paper contributes midrange theory on BCT in supply chain management (SCM), future research directions, and managerial insights on BCT adoption in supply chains.     

Legitimation of a heterogeneous market category through covert prototype differentiation

The literature on market category formation provides insufficient insights into how entrepreneurs address the need for collective legitimation of a market category while simultaneously managing tensions between heterogeneous practices. Through a study of the Autism@Work market category, this article shows that covert prototype differentiation constitutes a distinct construct that explains how entrepreneurs in heterogeneous market categories can strengthen category legitimacy while supporting the practices that they perceive as appropriate, without triggering conflicts related to category heterogeneity. The article also provides insights into how market category legitimacy is perceived by entrepreneurs and the antecedents and implications of such perceptions.     

Changing port-city relations at Amsterdam: A new phase at the interface?

In this paper, we investigate whether a new phase in port-city development is emerging. We have done this by analysing the scientific literature on present and future spatial developments of the port of Amsterdam in the Netherlands in terms of the spatial and environmental policies and the viewpoints of port firms. It appears that in the Port of Amsterdam, but also in other ports, the expansion pace of the port area is slowing down, while at the same time the city is expanding in the direction of the port at an increasing speed. In the beginning, this conflict was rather passive, in the sense that the conflict was about how the redevelopment should take place. However, the conflict has evolved further to questioning whether any redevelopment should take place. This implies that a new phase in the development of the port-city interface has emerged.