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Binned scatter plot of cash ETR ( CETR) on vesting equity (VPS)

Binned scatter plot of cash ETR ( CETR) on vesting equity (VPS)

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Article
CEOs with substantial short-term equity incentives behave myopically out of concerns for the stock price. We argue that corporate tax avoidance, given its positive impact on stock prices, is one potential target for managerial myopia. We show that, ceteris paribus, CEO short-term equity incentives are associated with declines in cash effective tax...