The Reputational Costs of Tax Avoidance


  • Accepted by Steve Salterio. The authors would like to thank Kathleen Andries, Darren Bernard, Jenny Brown, Nicole Cade, Charles Christian, Lisa De Simone, Katherine Drake, Don Goldman, Susan Gyeszly, Michelle Hanlon, Bradford Hepfer, Jeff Hoopes, Becky Lester, Kevin Markle, Zoe-Vonna Palmrose, Phil Quinn, Steven Savoy, Terry Shevlin, Michelle Shimek, Stephanie Sikes (Oxford discussant), Bridget Stomberg, Laura Wellman, Brady Williams, Ryan Wilson, participants at the 2012 Oxford University Centre for Business Taxation annual conference, Vienna University of Economics and Business, and reading groups at Arizona State, Iowa, MIT, and University of Texas-Austin for helpful comments. They especially thank Michelle Hanlon, Joel Slemrod, and Ryan Wilson for sharing tax shelter data and Bob Bowen, Andy Call, and Shiva Rajgopal for sharing Fortune Magazine reputation data. John Gallemore gratefully acknowledges the financial support of the Deloitte Foundation.