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The Impact of Controlled Foreign Company Legislation on Real Investments Abroad: A Two-dimensional Regression Discontinuity Design
Egger, Peter; Wamser, Georg - C.E.P.R. Discussion Papers - 2011
Controlled foreign company (CFC) rules are frequently imposed by countries as part of their anti-tax-avoidance legislation. This paper aims at quantifying their impact on foreign investments by utilizing a regression discontinuity design and the universe of German foreign investments notified to...
Persistent link: https://www.econbiz.de/10009144735
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The use of tax havens in exemption regimes
Gumpert, Anna; Hines Jr, James R; Schnitzer, Monika - C.E.P.R. Discussion Papers - 2012
This paper analyzes the tax haven investment behavior of multinational firms from a country that exempts foreign income from taxation. High foreign tax rates generally encourage firms to invest in tax havens, though significant costs of reallocating taxable income dampen these incentives. The...
Persistent link: https://www.econbiz.de/10011084127
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How would the design of an alternative minimum tax impact the effective corporate tax rate in Belgium?
Daxbek, Vincent; Estache, Antonio - C.E.P.R. Discussion Papers - 2013
The main purpose of this paper is to provide an assessment of the impact of the introduction of an alternative minimum tax (AMT) in Belgium with a focus on the impact on various distortions margins. In the process, we provide an up-to date account of the state of effective corporate taxation in...
Persistent link: https://www.econbiz.de/10011084174
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Inequality, Tax Avoidance, and Financial Instability
Landier, Augustin; Plantin, Guillaume - C.E.P.R. Discussion Papers - 2011
We model the link between inequality and excessive risk taking. In the presence of increasing returns to tax avoidance, the middle class is willing to take non rewarded financial risk despite risk aversion. Electoral pressure may lead an incumbent politician to endorse this excessive risk taking...
Persistent link: https://www.econbiz.de/10009371468
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First to “Read” the News: News Analytics and Institutional Trading
Keim, Donald B; Massa, Massimo; von Beschwitz, Bastian - C.E.P.R. Discussion Papers - 2015
We investigate whether providers of high frequency news analytics affect the stock market. As identification, we exploit a unique experiment based on differences in news event classifications between different product releases of a major provider of news analytics. We document a causal effect of...
Persistent link: https://www.econbiz.de/10011252620
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Investor Interest and Hedge Fund Returns
Ramadorai, Tarun - C.E.P.R. Discussion Papers - 2010
information in investor demand co-exists with the presence of capacity constraints in hedge fund returns, confirming two main …
Persistent link: https://www.econbiz.de/10008692307
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Optimal Interventions in Markets with Adverse Selection
Philippon, Thomas; Skreta, Vasiliki - C.E.P.R. Discussion Papers - 2010
for private information. We charac terize optimal mechanisms and analyze specific programs often used during banking …
Persistent link: https://www.econbiz.de/10008468692
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Finance and Development: The Case of Southern Italy
Faini, Riccardo; Giannini, Curzio; Ingrosso, Fulvio - C.E.P.R. Discussion Papers - 1992
argue that these findings reflect a situation in which Southern banks have a monopoly of information concerning local firms …
Persistent link: https://www.econbiz.de/10005123529
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Information, Forecasts and Measurement of the Business Cycle
Evans, George W.; Reichlin, Lucrezia - C.E.P.R. Discussion Papers - 1993
of the BN decomposition when the information set includes other I (1) and/or stationary variables. We show that the … relative importance of the cyclical component depends on the information set, and in particular that multivariate BN … information set includes a variable which Granger-causes output. We illustrate the results for post-war data for the United States. …
Persistent link: https://www.econbiz.de/10005123570
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High-Tech Firms and Credit Rationing
Guiso, Luigi - C.E.P.R. Discussion Papers - 1997
-tech groups and direct information on each firm’s access to bank credit, high-tech firms are found to be more likely to be credit …
Persistent link: https://www.econbiz.de/10005123591