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Ma, Song; Murfin, Justin; Pratt, Ryan D. - National Bureau of Economic Research - 2021

Across a broad range of equipment types and industries, we document a pattern of local capital reallocation from older firms to younger firms. Start-ups purchase a disproportionate share of old physical capital previously owned by more mature firms. The evidence is consistent with financial...

Persistent link: https://www.econbiz.de/10012616636

Labor in the Boardroom

Jäger, Simon - 2019

We estimate the effects of a mandate allocating a third of corporate board seats to workers (shared governance). We study a reform in Germany that abruptly abolished this mandate for certain firms incorporated after August 1994 but locked it in for the older cohorts. In sharp contrast to the...

Persistent link: https://www.econbiz.de/10012480463

Fixed Costs and Long-Lived Investments

House, Christopher L. - 2008

Neoclassical investment models predict that firms should make frequent, small adjustments to their capital stocks. Microeconomic evidence, however, shows just the opposite -- firms make infrequent, large adjustments to their capital stocks. In response, researchers have developed models with...

Persistent link: https://www.econbiz.de/10012464245

Specific Capital and Technological Variety

Jovanovic, Boyan - 2008

Growth of technological variety offers more scope for the division of labor. And when a division of labor requires some specific training, the technological specificity of human capital grows and, with it, probably the firm specificity of that capital. We build a simple model that captures this...

Persistent link: https://www.econbiz.de/10012464649

Real Assets and Capital Structure

Campello, Murillo - 2012

We characterize the relation between asset structure and capital structure by exploiting variation in the salability of corporate assets. Theory suggests that asset tangibility increases borrowing capacity because it allows creditors to more easily repossess a firm's assets. Tangible assets,...

Persistent link: https://www.econbiz.de/10012460512

Asymmetric Investment Rates

Bai, Hang; Li, Erica X. N.; Xue, Chen; Zhang, Lu - National Bureau of Economic Research - 2022

Integrating national accounting with financial accounting, we provide firm-specific estimates of current-cost capital …

Persistent link: https://www.econbiz.de/10013191052

Bank Deregulation, Accounting Systems of Exchange, and the Unit of Account : A Critical Review

McCallum, Bennett T. - 1985

most transactions are carried out through an accounting system rather than any tangible medium of exchange, and (iii …

Persistent link: https://www.econbiz.de/10012477512

Mandated Financial Reporting and Corporate Innovation

Breuer, Matthias - 2019

We investigate the impact of reporting regulation on corporate innovation activity. Exploiting thresholds in Europe's regulation and a major enforcement reform in Germany, we find that forcing a greater share of firms to publicly disclose their financial statements reduces firms' innovative...

Persistent link: https://www.econbiz.de/10012480236

Research in Accounting for Income Taxes

Graham, John - 2010

This paper comprehensively reviews Accounting for Income Taxes (AFIT). The first half provides background and a primer …

Persistent link: https://www.econbiz.de/10012462987

Bank-Tax Conformity for Corporate Income : An Introduction to the Issues

Hanlon, Michelle - 2005

This paper discusses the issues surrounding the proposals to conform financial accounting income and taxable income …. The two incomes diverged in the late 1990s with financial accounting income becoming increasingly greater than taxable … of earnings management for financial accounting and/or the tax sheltering of corporate income. Our paper outlines the …

Persistent link: https://www.econbiz.de/10012467620