Phys.org   September 18, 2023 According to an international team of researchers (US – University of North Carolina, UT Dallas, Germany, Norway, Brazil) enhanced financial statement disclosures of tax information under Financial Accounting Standards Board (FASB) Interpretation Number 48 (FIN 48) led to more IRS scrutiny and altered the incentives for corporate innovation. Using patent applications as a measure of corporate innovation, they used a difference-in-differences research design with publicly listed US firms as the treatment group and privately held US firms not subject to the disclosure requirements as the control group. They found evidence that following the onset of FIN […]