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Michael Mayberry - University of Florida. Gainesville, FL, US

Michael Mayberry

Associate Professor | University of Florida

Gainesville, FL, UNITED STATES

Michael Mayberry is an expert in how taxes affect corporate behavior, the tax system and how firms minimize taxes.


Michael Mayberry is an expert in how taxes affect corporate behavior, how the tax system affects flow through entities (S-corporations) versus bigger businesses (C-corporations), and how firms minimize taxes. He is the Jack Kramer Term Associate Professor in the Warrington College of Business.

Areas of Expertise (10)

Tax System Effects on Large and Small Companies

Non-GAAP Reporting of Income Taxes

Federal Accounting Standards Board

Taxes and Corporate Behavior

Accounting for Income Taxes

How Firms Minimize Taxes

Corporate Taxes



FIN 48

Media Appearances (1)

‘Street’ effective tax rates are more useful in predicting companies’ future tax outcomes, study finds

Notre Dame News  online


“Street vs. GAAP: Which Effective Tax Rate Is More Informative?” is forthcoming in Contemporary Accounting Research from Erik Beardsley, assistant professor of accountancy at Notre Dame’s Mendoza College of Business, along with Michael Mayberry at University of Florida and Sean McGuire at Texas A&M University. The study finds that street ETRs provided by analysts do a better job of predicting future tax outcomes than the ETR included in financial reports prepared using GAAP. The study also finds that the market responds to street tax information more than GAAP tax information, suggesting investors find street tax expense more relevant for their decisions.

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Articles (4)

The predictive ability of tax contingencies for future income tax cash outflows

Contemporary Accounting Research

William A. Ciconte III, et. al


Prior research shows that contingent liabilities do not accurately predict future cash payments due to the managerial discretion afforded by accounting standards. We examine the extent to which current accounting guidance for a material contingent liability—the reserve for unrecognized tax benefits (UTBs) under Financial Interpretation No. 48 (FIN 48)—generates accruals that are predictive of future income tax cash outflows.

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Equity incentives and conforming tax avoidance

Contemporary Accounting Research

Mehmet C. Kara, et. al


We examine how executive equity incentives are associated with firms' conforming tax avoidance. Conforming tax avoidance is unique compared to nonconforming tax avoidance in that it decreases tax liabilities by reducing pretax income. Thus, conforming tax avoidance presents a unique set of consequences with important links to both risk and value-creation incentives.

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Risk-Taking Incentives and Earnings Management: New Evidence

Contemporary Accounting Research

Michael Mayberry, et al.


We reexamine the positive association between stock option vega and earnings management. In contrast to ALOT, prior empirical research and practitioner literature emphasizes earnings management's goals of increasing stock price and reducing volatility. Specifically, we assess whether the association is robust to (i) employing discretionary accruals that are less prone to misspecification, (ii) focusing on a more recent time period, and (iii) including additional controls for period-specific factors.

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The Shareholder Response to Corporate Tax Planning Advice Regulation


Michael P. Donohoe, et al.


We examine the shareholder response to heightened regulation of corporate tax planning advice through the covered opinions rules under U.S. Treasury Department Circular No. 230. These rules imposed extensive due diligence obligations and drafting requirements on tax professionals for a broad range of written tax advice.

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