title: Tax avoidance and firm risk: evidence from China

authors: Cao, Yaowen

subjects: Social Sciences

abstract: Prior literature (e.g., Guenther et al., 2017) documents puzzling evidence revealing that tax avoidance activities do not affect firm-specific risk. Using an extended US sample, we find that lower cash effective tax rates (ETRs) are associated with higher future return volatility, supporting the traditional view of tax risk-return trade-off. In sharp contrast to the US evidence, our analysis of Chinese firms suggests that Chinese state-owned enterprises (SOEs) with lower cash and GAAP ETRs tend to have lower future risk. In addition, we adopt a difference-in-differences approach based on the variations generated by two exogenous, antitax avoidance regulations in China but find no evidence suggesting a causal relationship between tax avoidance and firm risk. Overall, our results suggest that the relationship between tax avoidance and risk varies across countries, sample periods and tax aggressiveness measures, and we highlight the importance of addressing the endogenous nature in future research.

text: Tax avoidance and firm risk: evidence from China Prior literature (e.g., Guenther et al., 2017) documents puzzling evidence revealing that tax avoidance activities do not affect firm-specific risk. Using an extended US sample, we find that lower cash effective tax rates (ETRs) are associated with higher future return volatility, supporting the traditional view of tax risk-return trade-off. In sharp contrast to the US evidence, our analysis of Chinese firms suggests that Chinese state-owned enterprises (SOEs) with lower cash and GAAP ETRs tend to have lower future risk. In addition, we adopt a difference-in-differences approach based on the variations generated by two exogenous, antitax avoidance regulations in China but find no evidence suggesting a causal relationship between tax avoidance and firm risk. Overall, our results suggest that the relationship between tax avoidance and risk varies across countries, sample periods and tax aggressiveness measures, and we highlight the importance of addressing the endogenous nature in future research.

year: 2021-03-03

title: Charles Peirce's limit concept of truth

authors: Legg, Catherine

abstract: This talk will present and explore Charles Peirce’s account of truth as “the opinion which is fated to be agreed to by all who investigate”. This account is arguably more objectivist than accounts of truth in terms of ‘usefulness’ found in other pragmatists such as William James and Richard Rorty. The account will be defended from three objections: i) Because it talks about a potentially infinite process of inquiry, it is incoherent. ii) Because it relies on a faith that inquirers will converge on one opinion if they inquire long and hard enough, it is too realist. iii) Because it defines truth as a kind of opinion, it is not realist enough.

text: Charles Peirce's limit concept of truth This talk will present and explore Charles Peirce’s account of truth as “the opinion which is fated to be agreed to by all who investigate”. This account is arguably more objectivist than accounts of truth in terms of ‘usefulness’ found in other pragmatists such as William James and Richard Rorty. The account will be defended from three objections: i) Because it talks about a potentially infinite process of inquiry, it is incoherent. ii) Because it relies on a faith that inquirers will converge on one opinion if they inquire long and hard enough, it is too realist. iii) Because it defines truth as a kind of opinion, it is not realist enough.

year: 2014

title: Legal responses to mental health: Is therapeutic jurisprudence the answer – the experience in New Zealand

authors: Toki, Valmaine

abstract: The orthodox understanding of ‘ethics’ encompasses a system of moral principles that define good and bad behavior. When applied to mental health, various jurisdictions, including New Zealand, have codified these principles together with the obligations on health service providers to meet these codified principles and standards. Underpinning this relationship is one of mutual trust where the physician has a responsibility, for example, to secure informed consent prior to any treatment. The existence of this therapeutic relationship can be applied when an offender who presents with a mental illness is subject to the criminal justice system.

text: Legal responses to mental health: Is therapeutic jurisprudence the answer – the experience in New Zealand The orthodox understanding of ‘ethics’ encompasses a system of moral principles that define good and bad behavior. When applied to mental health, various jurisdictions, including New Zealand, have codified these principles together with the obligations on health service providers to meet these codified principles and standards. Underpinning this relationship is one of mutual trust where the physician has a responsibility, for example, to secure informed consent prior to any treatment. The existence of this therapeutic relationship can be applied when an offender who presents with a mental illness is subject to the criminal justice system.

year: 2017