Nathan Seegert, and Stephen Salant, 2019. In a study that uses a large, newly-available administrative dataset on U.S. corporate tax filings, the authors find that U.S. firms are more sensitive to changes in corporate income tax rate than previous studies suggest and that lowering the corporate tax rate from 35% to 25% would increase firm value by 16%. [download pdf]

Nathan Seegert and Eric Ohrn, 2019.In a study that examines the impact of shareholder taxation on the quality of mergers and acquisitions, the authors demonstrate how investor-level taxes can create a tax discount that distorts acquisition behavior and encourages firms to acquire more assets. This in turn decreases the return on acquired assets and the average quality of acquisitions. [download pdf]

Elena Patel, Naomi Feldman, Laura Kawano, Nirupama Rao, Michael Stevens and Jesse Edgerton, 2018. Using data from U.S. corporate tax returns, the authors find robust evidence that public firms invest more than private firms overall, particularly in research and development, and that firms dedicate more of their investment to research and development following an IPO. The authors also find that firms [...]

Nathan Seegert, 2018. The author finds that 18 states have increased the riskiness of their tax portfolio since the Great Recession, while only five decreased the riskiness of their tax portfolio. However it was a need for revenue that drove many of these states to accept additional revenue volatility. Roughly half of the states that changed their tax portfolio since the [...]