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Ging-Jehli, Nadja R. - 2019

We experimentally study settings where an individual may have an incentive to adopt negative beliefs about another’s intentions in order to justify egoistic behavior. Our first study uses a game in which a player can take money from an opponent in order to prevent the opponent from...

Persistent link: https://www.econbiz.de/10012891985

Aligning Profit Taxation with Value Creation

Richter, Wolfram F. - 2019

The OECD seeks to align transfer pricing and profit taxation with value creation but fails to provide a clear definition. This paper argues that value creation requires international cooperation and that the profit tax base should therefore be allocated according to standards commonly considered...

Persistent link: https://www.econbiz.de/10012872065

Uncertainty and Change : Survey Evidence of Firms' Subjective Beliefs

Bachmann, Rüdiger; Carstensen, Kai; Lautenbacher, Stefan; … - 2021

This paper studies how managers plan under uncertainty. In a new survey panel on German manufacturing firms, we show that uncertainty reflects change: Planning incorporates higher subjective uncertainty about future sales growth when the firm has just experienced unusual growth, and more so if...

Persistent link: https://www.econbiz.de/10013314695

Efficiency and Environmental Impacts of Electricity Restructuring on Coal-Fired Power Plants

Chan, H. Ron; Fell, Harrison; Lange, Ian A.; Li, Shanjun - 2013

We investigate the impacts of electricity market restructuring on fuel efficiency, utilization and, new to this area … exclusively on coal-fired power plants and uses panel data covering several years after implementation of restructuring. The … estimation compares how investor-owned (IOs) plants in states with restructuring changed their behavior relative to IOs in states …

Persistent link: https://www.econbiz.de/10010292700

Sovereign defaults: The price of haircuts

Cruces, Juan J.; Trebesch, Christoph - 2011

A main puzzle in the sovereign debt literature is that defaults have only minor effects on subsequent borrowing costs and access to credit. This paper comes to a different conclusion. We construct the first complete database of investor losses (haircuts) in all restructurings with foreign banks...

Persistent link: https://www.econbiz.de/10010278882

The Impact of Delay: Evidence from Formal Out-of-Court Restructuring

Srhoj, Stjepan; Kovač, Dejan; Shapiro, Jacob N.; … - 2021

Bankruptcy restructuring procedures are used in most legal systems to decide the fate of businesses facing financial …

Persistent link: https://www.econbiz.de/10012657954

Why Firms Should Care for all Consumers

Planer-Friedrich, Lisa; Sahm, Marco - 2015

We compare the strategic potential of Corporate Social Responsibility and Customer Orientation as commitments to larger quantities in Cournot competition. In addition to profits, firms can choose to care for the surplus of either all consumers (CSR) or their own customers only (CO), and if so,...

Persistent link: https://www.econbiz.de/10011388284

Investment Policy for Time-Inconsistent Discounters

Harstad, Bård - 2013

This paper explores how a principal with time-inconsistent preferences invests optimally in technology or capital. If the current principal prefers her future self to save more, she can increase current investments complementary to future savings and decrease investments in the strategic...

Persistent link: https://www.econbiz.de/10010328803

Forward Guidance in a Simple Model with a Zero Lower Bound

Illing, Gerhard; Siemsen, Thomas - 2014

the role of long-run and short-run price stickiness under discretion and commitment in a straightforward and intuitive way … when a commitment to hold nominal rates at zero for an extended period is optimal. We then introduce government spending …

Persistent link: https://www.econbiz.de/10010352378

Commitment to Pay Taxes: A Field Experiment on the Importance of Promise

Koessler, Ann-Kathrin; Torgler, Benno; Feld, Lars P.; … - 2016

-intrusive approach aimed at fostering the commitment to pay taxes. Using a between-subject design in a unique field setting, we … previously compliant taxpayers are more likely to make a promise, the commitment to do so can improve payment behaviour. This …

Persistent link: https://www.econbiz.de/10011584885

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