Taxes and Business Strategy

by Erickson, Hanlon, Maydew, Shevlin

| ISBN: 978-1-61853-321-0 | Copyright 2020

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Welcome to the sixth edition of Taxes and Business Strategy. 

Through integration with traditional MBA topics, Taxes and Business Strategy provides a framework for understanding how taxes affect decision-making, asset prices, equilibrium returns, and the financial and operational structure of firms.

Target Audience

For MBA students and graduates embarking on careers in investment banking, corporate finance, strategy consulting, money management, or venture capital. Also great for entrepreneurs and for general knowledge of personal financial planning.

Relevancy

All four authors actively teach the tax and business strategy course and provide relevant examples from both classroom and real-world consulting experience.

Practical Uses for Business Strategy

Learn the practical uses for business strategy that can be applied to your everyday life.

In-depth Analysis

Analysis and explanatory material help the reader understand, think about, and retain information.


  • Updated for the Tax Cuts and Jobs Act 
    • Organizational form chapter updated to incorporate the Qualified Business Income Deduction for pass through entities.
    • International tax chapters updated to incorporate a broad discussion of available options for taxing multinational activity and the methods chosen in the TCJA, including the GILTI, the BEAT, and the FDII.
  • Tax rates and other rules updated throughout the book
  • Combined prior chapters 5 and 7 to streamline the book
  • Combined prior chapters 10 and 11 to streamline international tax coverage
  • Added a new Savings Vehicle in chapter 3
  • Solutions Manual
  • Computerized Test Bank
  • PowerPoint


Merle Erickson

Merle Erickson

Merle Erickson is Professor of Accounting at the Booth School of Business at the University of Chicago.

Professor Erickson has taught “Taxes and Business Strategy” in the Booth MBA program for more than twenty years. Erickson earned a bachelor's degree in accounting from Rockhurst College in 1987, an MBA in 1989 from Arizona State University, and a PhD in accounting from the University of Arizona in 1996. He joined the Chicago Booth faculty in 1996.

He has published numerous articles in a variety of top academic journals (e.g., Journal of Accounting Research, The Accounting Review, Journal of Accounting and Economics,). He has been given several awards from the American Taxation Association for his research and teaching. He has received the Outstanding Manuscript Award (twice) as well as an award for teaching innovation. He also has been named one of BusinessWeek's Outstanding Faculty at the University of Chicago. He is the author/editor of the casebook, Cases in Tax Strategy. In addition to teaching graduate students at Chicago Booth, Erickson has taught courses to Morgan Stanley, Merrill Lynch, General Electric Capital Corporation, Baker McKenzie, Andersen Consulting, Accenture, CareerBuilder, and the IMCA (Investment Management Consultants Association) among others. From 2005-2011, he served as a co-editor of the Journal of Accounting Research.

Over the course of his career, Erickson has consulted on complex GAAP and tax accounting issues (e.g., debt versus equity, FIN 48 and ASC 740 related issues, intercompany accounting and consolidation, employee stock option accounting) in a variety of contexts (e.g., bankruptcy, mergers and acquisitions, inversions, structured finance, investment planning, cross border and intercompany financing, tax sharing agreements, and various types of tax advantaged transactions). His clients have included, among others, the U.S. Department of Justice, the Internal Revenue Service, Fortune 500 companies in various industries, international financial institutions including investment banks, law firms, accounting firms, and individual taxpayers.

In addition to his scholarly activities, Erickson is an avid fisherman. He received the Angler Award from the Billfish Foundation in 2003 for releasing the most striped marlin worldwide that year.


Michelle L. Hanlon

Michelle L. Hanlon

Michelle L. Hanlon is the Howard W. Johnson Professor at the MIT Sloan School of Management. She earned her doctorate at the University of Washington.

Prior to joining MIT, she was a faculty member at the University of Michigan. Professor Hanlon has taught financial accounting to undergraduates, MBA students, executive MBA students, and Masters of Finance students. Professor Hanlon also teaches Taxes and Business Strategy to MBA students. She is the winner of the 2013 Jamieson Prize for Excellence in Teaching at MIT Sloan.

Professor Hanlon’s research focuses primarily on the intersection of taxation and financial accounting. Her recent work examines the capital market effects of the accounting for income tax, the reputational effects of corporate tax avoidance, and the economic consequences of U.S. international tax policies for multinational corporations. She has published research studies in the Journal of Accounting and Economics, the Journal of Accounting Research, The Accounting Review, the Review of Accounting Studies, the Journal of Finance, the Journal of Financial Economics, the Journal of Public Economics, and others. She has won several awards for her research and has presented her work at numerous universities and conferences. Professor Hanlon has served on several editorial boards and currently serves as an editor at the Journal of Accounting and Economics. 

Professor Hanlon has testified in front of the U.S. Senate Committee on Finance and the U.S. House of Representatives Committee on Ways and Means about the interaction of financial accounting and tax policy. She served as a U.S. delegate to the American-Swiss Young Leaders Conference in 2010 and worked as an Academic Fellow at the U.S. House Ways and Means Committee in 2015.


Edward L. Maydew

Edward L. Maydew

Ed Maydew is the David E. Hoffman Distinguished Professor of Accounting at the University of North Carolina at Chapel Hill.

His teaching and research interests include taxation and accounting and their roles in economic decisions. He is director of the UNC Tax Center.

Dr. Maydew is coauthor of "Taxes and Business Strategy: A Planning Approach" with Myron Scholes, Mark Wolfson, Merle Erickson, Michelle Hanlon and Terry Shevlin. He has served as an editor of The Accounting Review, an associate editor of Journal of Accounting and Economics and editorial board member of Journal of Accounting Research and Review of Accounting Studies.

His research is published in the leading academic journals in his field, including Journal of FinanceJournal of Financial EconomicsThe Accounting ReviewJournal of Accounting and EconomicsJournal of Accounting ResearchReview of Accounting StudiesContemporary Accounting ResearchManagement ScienceJournal of Public EconomicsNational Tax JournalAuditing: A Journal of Practice and Theory and Journal of the American Taxation Association.  

He has received awards for excellence in teaching and research, including the Weatherspoon Award for Excellence in Research and four Weatherspoon Awards for Excellence in Teaching. 

Dr. Maydew consults with prominent law firms and corporations on a variety of complex accounting and tax matters. He was employed by a predecessor of PwC in its Chicago office before he earned his PhD.

Prior to joining UNC Kenan-Flagler, he was on the faculty of the University of Chicago. He has been a visiting professor at Cornell University.

He received his PhD from the University of Iowa and BBA from Iowa State University.


Terry Shevlin

Terry Shevlin

Terry Shevlin is President-Elect of the American Accounting Association 2018-19. Terry served as AAA Vice President - Research and Publications 2015-2018 and chaired the AAA Publications Committee 2013-2016. He has served as editor on 3 AAA journals: Journal of the American Taxation Association (1996-1999), Senior Editor, The Accounting Review (2002-2005) and Co-editor, Accounting Horizons (2009-2012) and on numerous editorial boards (including the top 4 accounting journals). He has published over 40 articles in the very top accounting and finance journals.

Terry earned his PhD from Stanford University in 1986 and joined the faculty at the University of Washington where he worked for 26 years until joining the University of California-Irvine in the summer of 2012. He holds a Paul Merage Chair in Business and he is Associate Dean for Research and Doctoral Programs at the Merage School of Business at UCI. He held the Paul Pigott/Paccar Professor of Business Administration from 2004-2012. While at Washington he held various administrative position: faculty director of the PhD Program 1998-2006 and Accounting Department Chair from 2006-2012.

He has received a number of awards for his research and mentoring of PhDs the most recent being named the American Accounting Association Outstanding Educator for 2012. He was also named the American Taxation Association 2005 Ray M. Sommerfeld Outstanding Tax Educator. He has won the American Taxation Association Tax Manuscript Award 3 times (in 2004, 1995, and 1992) and twice won the AAA Competitive Manuscript for young scholars (1990 and 1987). He has been awarded the UW Business School Dean’s Faculty Research Award 4 times.

His research interests are broad and include the effect of taxes on business decisions and asset prices, capital markets-based accounting research, earnings management, research design and statistical significance testing issues.

His teaching interests include financial accounting, taxes and business decisions, empirical research methodology. He has spoken at numerous doctoral consortiums.

 



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