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Dividend Taxation and the Cost of New Share Issues
Lindhe, Tobias - 2014
This paper examines how the effects of dividend taxation on the cost of new equity funds depend on whether or not … shareholders can recover their original equity injections without being subject to the dividend tax. We point out the alternative … that the shareholders cannot recover their original equity injections without being subject to the dividend tax …
Persistent link: https://www.econbiz.de/10013045348
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Dividend Taxation, Share Repurchases and the Equity Trap
Lindhe, Tobias; Södersten, Jan Edvin - 2021
This paper reconsiders the effects of dividend taxation. Particular attention is paid to the form of the "equity trap …
Persistent link: https://www.econbiz.de/10013316375
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Gift-Exchange, Incentives, and Heterogeneous Workers
Non, Arjan - 2011
By incorporating reciprocity in an otherwise standard principal-agent model, I investigate the relation between monetary gift-exchange and incentive pay, while allowing for worker heterogeneity. I assume that some, but not all, workers care more for their principal when they are convinced that...
Persistent link: https://www.econbiz.de/10013121201
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Public Goods, Signaling, and Norms of Conscientious Leadership
Amegashie, J. Atsu - 2017
I study a sequential-move public goods game based on the notion that leadership comes with an obligation; conscientious leadership. Provision by the leader of an amount of the public good below a minimum imposes a psychological cost on the follower which increases his unit cost of contribution....
Persistent link: https://www.econbiz.de/10012964625
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On the Desirability of Taxing Charitable Contributions
Blumkin, Tomer - 2007
We develop a model that allows for public goods and status signaling through charitable contributions. This model provides a unified framework in which contributions are driven both by altruism and status signaling. We use this setup to re-examine the conventional practice of rendering a...
Persistent link: https://www.econbiz.de/10012777729
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Portfolio Sales and Signaling
Bougheas, Spiros - 2017
A common practice of banks has been to pool assets of different qualities and then sell a fraction of the newly created portfolios to investors. We extend the signaling model for single sales of risky assets to portfolio sales. We identify conditions under which signaling at the portfolio level...
Persistent link: https://www.econbiz.de/10012960474
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Dissipative Advertising Signals Quality even without Repeat Purchases
Linnemer, Laurent - 2008
Economists have emphasized the role of dissipative advertising and price as signals of quality. Most works, however, limit the number of types to two options: high and low quality. Yet, production costs and quality both result from Ramp;D efforts and therefore are both uncertain. I characterize...
Persistent link: https://www.econbiz.de/10012771800
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The Signaling Role of Charitable Contributions by Businesses : A Tax Policy Perspective
Blumkin, Tomer - 2016
Empirical evidence suggests that charitable contributions to public goods may be driven not only by the familiar warm-glow of giving motive but also as a means for businesses to signal high product quality. Building on this finding, we present an analytical framework that characterizes the...
Persistent link: https://www.econbiz.de/10012979588
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How Many Patents Does it Take to Signal Innovation Quality?
Comino, Stefano - 2014
In this paper, we offer a novel explanation to the surge in patenting bserved during the last years. With low patentability standards at PTOs (Patent and Trademark Offices awarding so-called bad patents), not only “false innovators” have the chance of being granted patents but also, and more...
Persistent link: https://www.econbiz.de/10013051385
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Ex Post Information Rents in Sequential Screening
Krahmer, Daniel - 2014
We study ex post information rents in sequential screening models where the agent receives private ex ante and ex post information. The principal has to pay ex post information rents for preventing the agent to coordinate lies about his ex ante and ex post information. When the agent's ex ante...
Persistent link: https://www.econbiz.de/10013054499