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Ownership Efficiency and Tax Advantages: The Case of Private Equity Buyouts

Norbäck, Pehr-Johan; Persson, Lars; Tåg, Joacim - Institutet för Näringslivsforskning (IFN) - 2010

Commentators on the private equity industry often claim that favorable tax treatment gives private equity firms advantages in the market for corporate control. But we show that tax advantages do not affect the equilibrium ownership of corporate assets when acquisition costs are fully deductible...

Persistent link: https://www.econbiz.de/10008599462

Social Capital and the Family: Evidence that Strong Family Ties Cultivate Civic Virtues

Ljunge, Martin - Institutet för Näringslivsforskning (IFN) - 2013

I establish a positive relationship between family ties and civic virtues, as captured by disapproval of tax and benefit cheating, corruption, and a range of other dimensions of exploiting others for personal gain. I find that family ties are a complement to social capital, using within country...

Persistent link: https://www.econbiz.de/10011188489

Trust Us to Repay: Social Trust, Long-Term Interest Rates and Sovereign Credit Ratings

Bergh, Andreas - Institutet för Näringslivsforskning (IFN) - 2014

-country differences in informal institutions, measured by social trust. We note a number of theoretical mechanisms that could imply that … similar objective problems are more likely to be effectively dealt with in higher-trust societies. A set of panel estimates … and growth problems in low-trust countries. This finding sheds light on the differential market reactions to economic …

Persistent link: https://www.econbiz.de/10010945000

Legitimacy and the Cost of Government

Berggren, Niclas; Bjørnskov, Christian; Lipka, David - Institutet för Näringslivsforskning (IFN) - 2014

While previous research documents a negative relationship between government size and economic growth, suggesting an economic cost of big government, a given government size generally affects growth differently in different countries. As a possible explanation of this differential effect, we...

Persistent link: https://www.econbiz.de/10010945001

Inequality and Trust

Jordahl, Henrik - Institutet för Näringslivsforskning (IFN) - 2007

This paper reviews the literature on economic inequality and trust. Cross-country studies, within-country studies, and … experiments all suggest that economic inequality exerts a negative influence on trust. Four mechanisms are proposed to explain the …

Persistent link: https://www.econbiz.de/10005029285

Inequality and Trust in Sweden: Some Inequalities are More Harmful than Others

Gustavsson, Magnus; Jordahl, Henrik - Institutet för Näringslivsforskning (IFN) - 2006

We present new evidence on the influence of income inequality on generalized trust. Using individual panel data from … especially differences among people in the bottom half of the income distribution, are associated with lower trust. The … relationship between income inequality and trust is particularly strong for people with a strong aversion against income …

Persistent link: https://www.econbiz.de/10005645359

Trust and Growth: A Shaky Relationship

Berggren, Niclas; Elinder, Mikael; Jordahl, Henrik - Institutet för Näringslivsforskning (IFN) - 2007

We conduct an extensive robustness analysis of the relationship between trust and growth by investigating a later time …. We find that when outliers (especially China) are removed, the trust-growth relationship is no longer robust. On average …, the trust coefficient is half as large as in previous findings. …

Persistent link: https://www.econbiz.de/10005645408

Trust Drives Internet Use

Ljunge, Martin - Institutet för Näringslivsforskning (IFN) - 2012

This paper estimates the effect of trust on internet use by studying the general population as well as second … generation immigrants in 29 European countries with ancestry in 87 nations. There is a significant positive effect of trust on … internet use. The positive trust effect is not universal to all media, as individuals with high trust are shown to consume less …

Persistent link: https://www.econbiz.de/10010818358

Trust Issues: Evidence from Second Generation Immigrants

Ljunge, Martin - Institutet för Näringslivsforskning (IFN) - 2012

This paper estimates the intergenerational transmission of trust by studying second generation immigrants in 29 … European countries with ancestry in 87 nations. There is significant transmission of trust on the mother’s side. The … transmission is stronger in Northern Europe. Ancestry from more developed countries suggests a stronger transmission of trust, but …

Persistent link: https://www.econbiz.de/10011188487

Social Capital and Political Institutions: Evidence that Democracy Fosters Trust

Ljunge, Martin - Institutet för Näringslivsforskning (IFN) - 2013

This paper finds evidence that more democratic political institutions increase trust. Second generation immigrants with … country, those whose father was born in a more democratic country express higher trust than those whose father was born in a …

Persistent link: https://www.econbiz.de/10011188488