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Salience of Inherited Wealth and the Support for Inheritance Taxation
Bastani, Spencer - 2019
We study how attitudes to inheritance taxation are influenced by information about the role of inherited wealth in … inherited wealth could be one explanation behind the relatively marginalized role of inheritance taxation in developed economies … aggregate importance of inherited wealth and its link to inequality of opportunity significantly increases the support for …
Persistent link: https://www.econbiz.de/10012892104
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The (Un)Importance of Inheritance
Black, Sandra E.; Devereux, Paul J.; Landaud, Fanny; … - 2022
well as at all levels of net wealth at a point in time. Gifts and inheritances are only an important source of income flows … much different from the actual distribution. Our findings suggest that inheritance taxes may do little to mitigate the … extreme wealth inequality in society …
Persistent link: https://www.econbiz.de/10013305650
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Mavericks, Universal, and Common Owners - the Largest Shareholders of U.S. Public Firms
Amel-Zadeh, Amir; Kasperk, Fiona; Schmalz, Martin - 2022
We construct a novel data set to show that, between 2003-2020, up to one-fifth of America’s largest firms had a non-financial blockholder or insider as their largest shareholder. Blockholders and insiders tend to be less diversified than institutional investors. Measures of “universal” and...
Persistent link: https://www.econbiz.de/10014077008
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Alternatives to Paying Child Benefit to the Rich : Means Testing or Higher Tax?
Apps, Patricia F. - 2020
Transferring public benefits to people in no need of them appears to be a waste of public money. Thus, there seems to be support for a move away from universal child benefits and towards means testing. This study presents a critique of this overly-simplistic view and proposes a very simple...
Persistent link: https://www.econbiz.de/10012828975
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Optimal delegation when the large shareholder has multiple tasks
Graziano, Clara; Luporini, Annalisa - 2010
We analyze the optimal ownership, delegation and compensation structures when a manager is hired to run a firm and to gather information on investment projects. The initial owner has two tasks: monitoring the manager and supervising project choice. Optimality would require a large ownership...
Persistent link: https://www.econbiz.de/10010270637
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Corporate governance reforms, interlocking directorship networks and company value in Italy (1998-2007)
Drago, Carlo; Millo, Francesco; Ricciuti, Roberto; … - 2011
In this paper we contribute to the literature on the structure of interlocking directorship networks and to the literature on the relationship between corporate governance and performance. We use a unique dataset made of corporate governance variables related to the board size and interlocking...
Persistent link: https://www.econbiz.de/10010274726
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How weak is the weakest-link principle? : On the measurement of firm owners' control rights
Weichenrieder, Alfons J.; Edwards, Jeremy S. S. - 2004
The paper argues that the weakest link principle, which has been widely used as a measure of ultimate owners? control rights, has a number of serious problems. A theoretically more satisfactory method of measuring control rights, based on voting power indices, is proposed, and the different...
Persistent link: https://www.econbiz.de/10010261241
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Ownership concentration, monitoring and optimal board structure
Graziano, Clara; Luporini, Annalisa - 2005
The paper analyzes the optimal structure of the board of directors in a firm with a large shareholder sitting on the board. In a one-tier structure the sole board performs all tasks, while in a two-tier structure the management board is in charge of project selection and the supervisory board is...
Persistent link: https://www.econbiz.de/10010261334
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Diversification and ownership concentration
Parigi, Bruno Maria; Pelizzon, Loriana - 2005
We consider a mean-variance general equilibrium economy where the expected returns for controlling and non-controlling shareholders are different because the former are able to divert a fraction of the profits. We find that when investor protection is poor, asset return correlation affects...
Persistent link: https://www.econbiz.de/10010261366
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What Does Codetermination Do?
Jäger, Simon; Noy, Shakked; Schoefer, Benjamin - 2021
We provide a comprehensive overview of codetermination, i.e., worker representation in firms’ governance and management. We cover the institution’s history, implementation, and the best available evidence on its economic impacts. We argue that existing quasi-experimental estimates suggest...
Persistent link: https://www.econbiz.de/10013221177