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All you need is cash : corporate cash holdings and investment after the global financial crisis

Joseph, Andreas; Kneer, Christiane; Horen, Neeltje van - 2021

Cash holdings at the onset of a financial crisis are a key determinant of investment by SMEs not only during the crisis but also during the recovery period. Cash-rich SMEs could maintain their capital stock during the global financial crisis, while cash-poor rivals reduced theirs. This gave...

Persistent link: https://www.econbiz.de/10012509557

Marketplace lending of SMEs

Cumming, Douglas J.; Hornuf, Lars - 2020

Peer-to-business lending refers to online platforms facilitating loans from individuals to smalland medium-sized enterprises (SMEs). We conjecture that easy-to-understand risk ratings conveyed by the platform play a pronounced role in influencing the borrowing success of SMEs and that more...

Persistent link: https://www.econbiz.de/10012166027

Protecting investors in equity crowdfunding : an empirical analysis of the small investor protection act

Göthner, Maximilian; Hornuf, Lars; Regner, Tobias - 2020

During the past decade, equity crowdfunding (ECF) has emerged as an alternative funding channel for startup firms. In Germany, the Small Investor Protection Act became binding in July 2015, with the legislative goal to protect investors engaging in this new asset class. Since then, investors...

Persistent link: https://www.econbiz.de/10012226836

Rescue policies for small businesses in the Covid-19 recession

Di Nola, Alessandro; Kaas, Leo; Wang, Haomin - 2022

While the COVID-19 pandemic had a large and asymmetric impact on firms, many countries quickly enacted massive business rescue programs which are specifically targeted to smaller firms. Little is known about the effects of such policies on business entry and exit, factor reallocation, and...

Persistent link: https://www.econbiz.de/10013166369

European SMEs and resource efficiency measures : firm characteristics and contextual factors

Caporale, Guglielmo Maria; Donati, Cristiana; Spagnolo, … - 2023

This paper investigates how access to finance and skilled workforce endowments affect the propensity of European small and medium sized enterprises (SMEs) to adopt different types of resource efficiency measures (REMs), possibly simultaneously. For this purpose, a Multinomial Logit model is...

Persistent link: https://www.econbiz.de/10014435290

Small and medium sized European firms and energy efficiency measures : a probit analysis

Caporale, Guglielmo Maria; Donati, Cristiana; Spagnolo, … - 2022

This paper investigates the factors (such as different sources of financing, energy audits and internal monitoring activities) affecting the propensity of European small and medium sized enterprises (SMEs) to adopt energy efficiency measures (EEMs). For this purpose, a Probit model is estimated...

Persistent link: https://www.econbiz.de/10013440418

Is the collective model of labor supply useful for tax policy analysis? : a simulation exercise

Bargain, Olivier; Moreau, Nicolas - 2003

effect of tax-benefit policies. We simulate this effect in the framework of a collective model of labor supply when shifting … from a joint to an individual taxation system in France. We show that the net-of-tax relative earning potential of the wife … sensitivity analysis shows that the collective model would be required if the tax reform was both radical and of extended scope. …

Persistent link: https://www.econbiz.de/10011509519

Taxes in an e-commerce generation

Agrawal, David R.; Fox, William F. - 2016

. This results in different effective tax rates depending on the way in which goods and services are purchased and the …-of-taxation rule for consumption taxation of cross-border trade. We analyze various recent reforms to the Value Added Tax in the …

Persistent link: https://www.econbiz.de/10011522134

The role of taxes as automatic destabilizers in new Keynesian economics

Kreiner, Claus Thustrup; Kleven, Henrik Jacobsen - 2000

This paper analyses the effects of taxation in New Keynesian economics. The results show that taxes contribute to price and wage stickiness and, moreover, that the resulting fluctuations in welfare are magnified by the presence of taxes. These results are at odds with the old Keynesian idea of...

Persistent link: https://www.econbiz.de/10009780208

Inferring tax compliance from pass-through : evidence from Airbnb tax enforcement agreements

Bibler, Andrew J.; Teltser, Keith F.; Tremblay, Mark J. - 2019

Tax enforcement can be prohibitively costly when market transactions and participants are difficult to observe. Evasion … among market participants may reduce tax revenue and provide certain types of suppliers an undue competitive advantage … this paper, we show that an upper bound on pre-enforcement tax compliance can be obtained using market data on pre- and …

Persistent link: https://www.econbiz.de/10012033218