Müller, Raphael; Spengel, Christoph; Weck, Stefan - 2021 - This version: October 2021
We examine the capital market reaction to the announcement of the European Union (EU) to introduce a public tax country … extended information environment or more sustainable corporate tax strategies. In cross-sectional tests, we find that the … average investor reaction is more pronounced for firms with low effective book tax rates, indicating that reputational …