Narrow search
Showing 1 - 10 of 1,872
Cover Image
The Impact of Tax Uncertainty on Irreversible Investment
Niemann, Rainer - 2021
Tax legislation, fiscal authorities, and tax courts create tax uncertainty by frequent tax reforms and various different interpretations of the tax law. Moreover, investors generate model-specific tax uncertainty by using simplified models that anticipate the actual tax base incorrectly. I...
Persistent link: https://www.econbiz.de/10013316889
Cover Image
Overfunding and Signaling Effects of Herding Behavior in Crowdfunding
Kapounek, Svatopluk - 2019
The paper employs a dynamic market-wide herding behavior measure of 117,166 lending-based campaigns in 119 online … show that herding behavior plays an important signaling role in reducing opportunity costs if the auction does not receive … enough monetary bids. Additionally, our threshold models identify significant herding behavior after funding goals are raised …
Persistent link: https://www.econbiz.de/10012857910
Cover Image
Herding, Warfare, and a Culture of Honor : Global Evidence
Cao, Yiming; Enke, Benjamin; Falk, Armin; Giuliano, Paola; … - 2022
According to the widely known ‘culture of honor’ hypothesis from social psychology, traditional herding practices have … willing to take revenge in global surveys. We conclude that herding practices generated a functional psychology that plays a …
Persistent link: https://www.econbiz.de/10013308100
Cover Image
Can Government Demand Stimulate Private Investment? Evidence from U.S. Federal Procurement
Hebous, Shafik - 2019
We study the effects of federal purchases on firm investment using a novel panel dataset that combines federal procurement contracts in the United States with key financial firm-level information. Using panel fixed-effect models, propensity score matching, and inverse probability weighting...
Persistent link: https://www.econbiz.de/10012891052
Cover Image
Strategic Investment Decisions in Multi-Stage Contests with Heterogeneous Players
Deutscher, Christian - 2019
We study strategic investment decisions in multi-stage contests with heterogeneous players. Our theoretical model of a round-robin rank-order tournament predicts that players conserve resources in a current contest to spend more in the subsequent contest if the degree of heterogeneity in the...
Persistent link: https://www.econbiz.de/10012892111
Cover Image
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/10012857903
Cover Image
Downward Revision of Investment Decisions after Corporate Tax Hikes
Link, Sebastian; Menkhoff, Manuel; Peichl, Andreas; … - 2022
This paper estimates the causal effect of corporate tax hikes on firm investment based on more than 1,400 local tax changes. By observing planned and realized investment volumes in a representative sample of German manufacturing firms, we can study how tax hikes induce firms to revise their...
Persistent link: https://www.econbiz.de/10014082236
Cover Image
How Do Corporate Tax Hikes Affect Investment Allocation within Multinationals?
Marsi, Antonio; Jacob, Martin; Schindler, Dirk; Xu, Guosong - 2023
This paper studies how corporate tax hikes transmit across countries through multinationals’ internal networks of subsidiaries. We build a parsimonious multicountry model to underscore two opposing spillover effects: While tax competition between countries generates positive investment...
Persistent link: https://www.econbiz.de/10014261020
Cover Image
Acting autonomously or mimicking the state and peers? A panel tobit analysis of financial dependence and aid allocation by Swiss NGOs
Dreher, Axel; Nunnenkamp, Peter; Öhler, Hannes; … - 2009
of financial dependence for imitating the state and herding among NGOs. …
Persistent link: https://www.econbiz.de/10010264611
Cover Image
Reputational Herding in Financial Markets: A Laboratory Experiment
Roider, Andreas; Voskort, Andrea - 2015
We study reputational herding in financial markets in a laboratory experiment. In the spirit of Dasgupta and Prat (2008 …
Persistent link: https://www.econbiz.de/10010480817