This paper investigates the equity market reactions to the publication of the OECD BEPS Action Plan. We examine abnormal stock returns for firms incorporated and traded on the stock market in 36 OECD member states for various event dates during the developmental phase of the OECD BEPS Action...

Following the financial crisis and ensuing austerity, politicians discovered the problem of tax avoidance. In response, the OECD and G20 launched the Base Erosion and Profit Shifting (BEPS) project in 2013, and this has in October, 2015 culminated with the release of a series of action steps...

Market efficiency, in its strong form, asserts that asset prices fully reflect all available information. The classical event study methodology attempts to make explicit this link by assuming rigid and universal event periods, in addition to many other restrictions. In contrast, our...

In April of 1919, the roar of the guns of the Great War had only been silent for a few months. Between that fateful November of 1918 and April of the next year, the world of international politics, economics, and medicine would be challenged by several factors. The collapse of Germany, the...

This paper concerns the 2011 Australian Government's then proposed changes to the transfer pricing rules, referred to as the stage one amendments, and the consultation process to provide interested parties with an opportunity to comment. The paper covers the external submissions received, with a...

We interview Australian fund executives about how their organisations responded to MySuper, a regulatory framework for default retirement savings funds that providers were required to have in place by the beginning of 2014. In addition to providing an account of the influences on product design...

With the introduction of expected credit loss based impairment methodology banks stress testing programs need to include forecasts of stressed impairment losses as an important component in the firmwide stress testing programs. The forecasts of stressed impairment losses are comprised of...

In its 2015 Final Report on “Measuring and Monitoring BEPS, Action 11”, the OECD introduced six indicators to quantify and evaluate base erosion and profit shifting (BEPS) activity over time. In this study, we revisit three selected indicators, provide a numerical update for recent periods...

We propose a rationale for why firms often return to the equity market shortly after their initial public offering (IPO). We argue that hard to value firms conduct smaller IPOs, and that they return to the equity market conditional on positive valuation signal from the stock market. Thus,...