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Dr. Benjamin Posmanick, assistant professor of Finance, along with co-authors Dr. Ryan Pinheiro from the University of Akron, and two recent Bonaventure graduates, Sean Fay, ’24, ’25, and Dylan Ameis, ’24, ’25, published “Income Taxes and Firm Competitiveness: A Case Study from the National Football League” in the International Journal of Financial Studies.

The paper shows that increases in the income tax rate in a team’s home state cause a decrease in team quality, particularly after the passage of the salary cap, a binding budget constraint on pay for NFL teams. The study also shows that teams in high-tax states were more likely to be above average before the salary cap. However, after the salary cap, teams from high-tax states are less likely to be above average. The paper is available in open-access format here: .