Professor Bin Li, along with Urooj Khan, Shivaram Rajgopal and Mohan Venkatachalam, received the AICPA-sponsored 2018 Notable Contributions to Accounting Literature Award. The group collaborated on their work titled “Do the FASB’s Standards Add Shareholder Value?”
Professor Brad Blaylock was awarded the prestigious Tax Manuscript Award by the American Taxation Association, presented annually for a significant contribution to the tax literature, for his research study, “Is Tax Avoidance Associated with Economically Significant Rent Extraction among U.S. Firms?"
Professor Li’s paper was published in The Accounting Review. The study, Professor Li said, addresses the “big-picture” question of whether the Financial Accounting Standards Board’s (FASB) standard-setting process has been effective by examining stock market reaction to FASB standards issued between 1973 and 2009. Li said, “Our paper is the first accounting study to comprehensively examine the FASB’s standard-setting efficacy.” According to the findings, a large majority of the accounting standards issued by the FASB did not impact shareholder value.
Professor Blaylock’s research was published in Contemporary Accounting Research. Prior research showed empirical support in other, less developed countries for a theory that suggested managers of companies personally benefit from tax avoidance undertaken by corporations. However, upon finding no evidence for the theory in U.S. firms, Blaylock concluded that the theory likely is much less descriptive here in the U.S. due to stronger legal institutions and protections for shareholders than in Russia, China and other countries where more evidence exists to support the theory.”
