Effect of Taxes on Business Decisions and Asset Prices
Capital Markets-Based Accounting Research
Earnings Management
Employee Stock Options
Research Design
Statistical Significance Testing Issues
Terry Shevlin
Distinguished Professor Emeritus of Accounting
Education
Doctor of Philosophy, Stanford University
Master of Economics, Monash University
Diploma of Education, University of Melbourne
Bachelor of Commerce, University of Melbourne
Research Interest
Effect of Taxes on Business Decisions and Asset Prices
Capital Markets-Based Accounting Research
Earnings Management
Employee Stock Options
Research Design
Statistical Significance Testing Issues
Terry Shevlin is a Distinguished Professor Emeritus of accounting at UCI Paul Merage School of Business and holds a Paul Merage Chair in Business Growth. He earned his PhD from Stanford University in 1986 and joined the faculty at the University of Washington where he worked for 26 years until joining UCI in the summer of 2012. He visited the University of Iowa in 1991-92. While at Washington he held the Paul Pigott/Paccar Professor of Business Administration from 2004-2012. In addition, he held various administrative position: faculty director of the PhD Program 1998-2006 and Accounting Department Chair from 2006-2012.
He was Associate Dean for Research and PhD Program at the Merage School 2016-2021. He currently is the MPAC Program Faculty Director. During the 2018-2021 period he was President-Elect, President, and Past-President of the American Accounting Association serving on the Board of directors.
He has served as editor on three academic journals: Journal of the American Taxation Association (1996-1999), Senior Editor, The Accounting Review (2002-2005) and Co-editor, Accounting Horizons (2009-2012) and on numerous editorial boards (including the top four accounting journals). He has published over 55 articles in the very top accounting and finance journals and over 80 articles in total.
He has received awards for his research and mentoring of PhDs”: the American Accounting Association Outstanding Educator for 2012; the American Taxation Association 2005 Ray M. Sommerfeld Outstanding Tax Educator; and the American Taxation Association Lifetime Service Ward in 2022. He has won the American Taxation Association Tax Manuscript Award four times (in 2017, 2004, 1995, and 1992) and twice won the AAA Competitive Manuscript for young scholars (1990 and 1987). He was awarded the UW Business School Dean’s Faculty Research Award four times. He was awarded the Merage Senior Faculty Research Award in 2021 and 2022.
His research interests are broad and include the effect of taxes on business decisions and asset prices, capital markets-based accounting research, and financial accounting reporting.
His teaching interests: taxes and business decisions, empirical research methodology.
He has spoken at numerous doctoral consortiums.
Keynote Speaker, Invited Speaker, Ohio State University First Annual Tax Symposium 2021, China Accounting and Finance Review 2020 Virtual Conference, September, 2020. Journal of International Accounting Research Conference, Saguenay, Canada, June 2019. Hawaii Accounting Research Conference, University of Hawaii at Manoa, Honolulu, January 2019. Journal of Contemporary Accounting and Economics Annual Conference, Bali, Indonesia, January 2018. Accounting Leading Scholar Symposium Series, Indiana University, May 2017, University of North Carolina Annual Tax Symposium 2017, London School of Economics Research Conference 2106, University of Munster Tax Research Conference 2016, 2010, Singapore Management University Research Conference 2016, 2011, Deans Lecture, Norwegian School of Economics, 2015.
Distinguished Virtual Visiting Professor, Hong Kong Polytech 2020-2021. Distinguished Speaker and Visitor, University of Oklahoma, February 2019. Keynote Speaker and Visiting Professor, Hong Kong University, April 2019. Distinguished Visiting Professor, Xiamin University, China, November, 2017, Nanyang Technical University, Singapore, September, 2017, Stanford University GSB, February 2015, Columbia University, December 2016, and Singapore Management University December 2016, 2011.
American Accounting Association Outstanding Educator 2012. Held the Paul Pigott/Paccar Professor of Business Administration, University of Washington, 2004-2012 American Taxation Association 2005 Ray M. Sommerfeld Outstanding Tax Educator. American Taxation Association 2022 Outstanding Lifetime Service Award.
Winner 2017, 2004, 1995, and 1992 American Taxation Association Tax Manuscript Award.
Distinguished Visiting Faculty, American Accounting Association Doctoral Consortium, Lake Tahoe, June, 2008, 2006, 1998, 1997, and 1993.
Winner, American Accounting Association Competitive Manuscript Award 1990, 1987.
Co-editor, Accounting Horizons (2009-2012); Senior Editor, The Accounting Review (2002-2005);
Editor, Journal of the American Taxation Association (1996-1999)
2022. A tale of two forecasts: An analysis of mandatory and voluntary effective tax rate forecasts, with Novia Chen and Sabrina Chi, The Accounting Review (forthcoming).
2022. “The effect of tax avoidance on capital structure choices,” with Yoojin Lee and Aruhn Venkat, Journal of the American Taxation Association (forthcoming).
2022. “The persistence and pricing of changes in multinational firms’ foreign cash holdings,” with Novia Chen and Peng Chu Chia, Review of Accounting Studies (forthcoming).
2022. “Taxes in non-GAAP reporting: Evidence of strategic behavior selecting tax rates applied to exclusions,” with Novia Chen, Peng-Chia Chiu and Jiani Wang, Management Science (forthcoming).
2022. “Managerial career concerns and corporate tax avoidance: Evidence from the Inevitable Disclosure Doctrine,” with Ningzhong Li and Weining Zhang, Contemporary Accounting Research, Vol. 39: 1, 7-49.
2022. “CEO sports hobby and firms’ tax aggressiveness,” with Shuqing Luo, Lirong Shi and Aimee Shih, Journal of the American Taxation Association, Vol 44: 1, 123-153.
2022, “Employee turnover and firm performance: Large-sample archival evidence,” with Qin Li, Ben Lourie and Alex Nekrasov, Management Science, (forthcoming).
2021, “How does the market for corporate control impact tax avoidance? Evidence from international M&A laws,” with Jinshuai Hu and Siqi Li, Review of Accounting Studies, (forthcoming).
2021, “Measuring corporate tax rate and tax base avoidance of U.S. domestic and U.S. multinational firms,” with Niklas Lampenius and Arthur Stenzel, Journal of Accounting and Economics, Vol 72: 1, 101406.
2021, “The effect of tax avoidance crackdown on corporate innovation,” with Qin Li and Mark (Shuai) Ma, Journal of Accounting and Economics, Vol.71, Issues 2-3, 101382.
2021, “The decreasing trend in U.S. cash effective tax rates: The role of growth in pre-tax income,” with Alex Edwards and Adrian Kubata, The Accounting Review Vol 96: 5, 231-261.
2021, “The effects of tax avoidance news on employee perceptions of managers and firms: Evidence from Glassdoor.com ratings,” with Yoojin Lee, Shaphan Ng and Aruhn Venkat, The Accounting Review, Vol. 96: 3, 343-372.
2020, “An overview of academic tax accounting research drawing on U.S. multinational taxation,” Journal of International Accounting Research Vol 19: 3, 9-17.
2020, “Does public country-by-country reporting deter tax avoidance and income shifting? Evidence from the European banking industry” A discussion,” with Aruhn Venkat, Contemporary Accounting Research Vol 37, No. 4, 2382-2397.
2020, “Are online job postings informative to investors?” With Elizabeth Gutierrez, Ben Lourie and Alex Nekrasov, Management Science, Vol 66: 7, 3133-3141.
2020, “Corporate tax avoidance and debt yields,” with Oktay Urcan and Florin Vasveri, Journal of the American Taxation Association, Vol 42: 2, 117-143.
2019, “Macroeconomic effects of corporate tax policy,” with Lakshmanan Shivakumar and Oktay Urcan, Journal of Accounting and Economics, Vol 68: 1, 101233.
2019, “How does quasi-indexer ownership affect corporate tax-planning?” with Shuping Chen, Ying Huang, and Ningzhong Li, Journal of Accounting and Economics, Vol 67: 2-3, 278-296.
2018, “Corporate tax aggressiveness and insider trading,” with Sung Gon Chung, Beng Wee Goh and Jimmy Lee, Contemporary Accounting Research, Vol. 36: No. 1, 230-258.
2018, “U.S. worldwide taxation and domestic mergers and acquisitions’ A discussion,” with Novia Chen, Journal of Accounting and Economics, Vol. 66, 439-447.
2018, “The pricing of firms with expected losses/profits: The role of January,” with Peng-Chia Chiu and Alexander Nekrasov, Journal of Business Finance and Accounting, Vol. 45, 544-571. DOI: 10.1111.jbfa.12296
2018, “Does U.S. foreign earnings lockout advantage foreign acquirers?” with Andrew Bird and Alex Edwards, Journal of Accounting and Economics, Vol 64: 150-166. DOI: https://doi.org/10.1016/j.jacceco.
2017.06.004 2018, “Do analysts matter for corporate tax planning? Evidence from a natural experiment,” with Novia Chen and Peng-Chia Chiu, Contemporary Accounting Research, Vol 35, No. 2, 794-829. DOI: 10.1111/1911-3846.12413
2017, “Tax rates and corporate decision making,” with John Graham, Michelle Hanlon, and Nemit Shroff, Review of Financial Studies, Vol. 30, No. 9, 3128-3175.
2017, “Book-tax conformity and capital structure,” with Brad Blaylock and Fabio Gaertner, Review of Accounting Studies, Vol. 22. No. 2, 903-932. DOI: 10.1007/s11142-017-9386-2
2017, “An examination of firms’ responses to tax forgiveness,” with Jacob Thornock and Braden Williams, Review of Accounting Studies, Vol. 22. No. 2, 577-607. DOI 10.1007/s11142-017-9390-6
2017, “The role of managerial ability in corporate tax avoidance,” with Allison Koester and Dan Wangerin, Management Science, Vol. 63, No. 10, 3285-3310. DOI: 10.1287/mnsc.2016.2510
2016, “The effect of corporate tax avoidance on the cost of equity,” with Beng Wee Goh, Jimmy Lee, and Chee Yeow Lim, The Accounting Review, Vol. 91, No. 6, 1647-1670. DOI: 10.2308/accr-51432
2016, “Discussion of “Targets tax shelter participation and takeover premiums”,” Contemporary Accounting Research, Vol. 33, No. 4, 1473-1488. DOI: 10.1111/1911-3846.12227
2016, “Internal governance and real earnings management,” with Qiang Cheng and Jimmy Lee, The Accounting Review, Vol. 91, No. 4, 1051-1085. DOI: 10.2308/accr-51275
2016, “The tax policy debate: Increasing the policy impact of academic tax accounting research,” with Roy Clemons, Journal of the American Taxation Association, Vol. 38, No. 1, 29-37. DOI: 10.2308/atax-51359
2016, “Financial constraints and cash tax savings,” with Alex Edwards and Casey Schwab, The Accounting Review, Vol. 91, No. 3, 859-881. DOI: 10.2308/accr-51282
2016, “Firm-specific estimates of differential persistence and their incremental usefulness for forecasting and valuation,” with Andrew Call, Max Hewitt, and Teri Yohn, The Accounting Review, Vol. 91, No. 3, 811-833. DOI: 10.2308/accr-51233
2016, “Measuring tax accrual quality,” with Preeti Choudhary and Allison Koester, Review of Accounting Studies, Vol. 21, 89-139. DOI: 10.1007/s11142-015-9336-9
2015, “A new measure of disclosure quality: The level of disaggregation of accounting information in annual reports,” with Shuping Chen and Bin Miao, Journal of Accounting Research, Vol. 53, No. 4, 1017-1054. DOI: 10.1111/1475-679X.12094
2015, “Market (In)attention and the strategic scheduling and timing of earnings announcements,” with Ed deHaan and Jake Thornock, Journal of Accounting and Economics, Vol 60, No. 1, 36-55. DOI: 10.1016/j.jacceco.2015.03.003
2015, “The association between book-tax conformity and earnings management,” with Brad Blaylock and Fabio Gaertner, Review of Accounting Studies, Vol 20, No. 1, 141-172. DOI: 10.1007/s11142-014-9291-x
2014, “Incentives for tax planning and avoidance: Evidence from the field,” with Michelle Hanlon, John Graham and Nemit Shroff, The Accounting Review, Vol. 89, No. 3, 991-1023. DOI: 10.2308/accr-50678
2013, “Some personal observations on the debate on the link between financial reporting quality and the cost of equity capital,” Australian Journal of Management, Vol 38, No. 3, 447-473. DOI: 10.1177/0312896213510669
2013, “Does voluntary adoption of a clawback provision improve financial reporting quality?” With Ed deHaan and Frank Hodge, Contemporary Accounting Research, Vol 30, No. 3, 1027-1062. DOI: 10.1111/j.1911-3846.2012.01183.x
2012, “Tax avoidance, large positive temporary book-tax differences, and earnings persistence,” with Brad Blaylock and Ryan Wilson, The Accounting Review, Vol 87, No. 1, 91-120. DOI: 10.2308/accr-10158
2012, “Domestic income shifting by Chinese listed firms,” with Tanya Tang and Ryan Wilson, Journal of the American Taxation Association, Vol 34, No. 1, 1-29. DOI: 10.2308/atax-10150
2011, “Real effects of accounting rules: Evidence from multinational firms’ investment location and profit repatriation decisions,” with Michelle Hanlon and John Graham, Journal of Accounting Research, Vol. 49, No. 1, 137-185. DOI: 10.1111/j.1475-679x.2010.00395.x
2011, “The value of a flow-through entity in an integrated corporate tax system,” with Alex Edwards, Journal of Financial Economics, Vol 101, No. 2, 473-491 DOI: 10.1016/j.jfineco.2011.03.003
2011, “Why do CFOs become involved in material accounting manipulations?” with Mei Feng, Weili Ge and Shuqing Luo. Journal of Accounting and Economics, Vol 51, No 1-2, 21-36. DOI: 10.1016/j.jacceco.2010.09.005
2010, “Barriers to mobility: The lockout effect of US taxation of worldwide corporate profits,” with John Graham and Michelle Hanlon, National Tax Journal, Vol 63, No. 2 Part 2, 1111-1144. DOI: 10.17310/ntj.2010.4s.12
2010, “Are family firms more tax aggressive than non-family firms?” with Shuping Chen, Xia Chen and Qiang Cheng, Journal of Financial Economics, Vol 95, No. 1, 41-61. DOI: 10.1016/j.jfineco.2009.02.003
2010, “Accounting restatements and information risk,” with Todd Kravet, Review of Accounting Studies, Vol 15, No. 2, 264-294. DOI: 10.2308/acch.2009.23.1.55
2009, “Do managers value stock options and restricted stock consistent with economic theory?” with Frank Hodge and Shiva Rajgopal, Contemporary Accounting Research, Vol 26, No 3, 899-932. DOI: 10.1506/car.26.3.11
2008, “An unintended consequence of book-tax conformity: A loss of earnings informativeness,” with Michelle Hanlon and Ed Maydew, Journal of Accounting and Economics, 46, 294-311. DOI: 10.1016/j.jacceco.2008.09.003
2008, “Economic consequences of increasing the conformity in accounting for uncertain tax benefits,” with Pete Frischmann and Ryan Wilson, Journal of Accounting and Economics, 46, 261-278. DOI: 10.1016/j.jacceco.2008.08.002
