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In dem letzten Jahrzehnt wurde die Berücksichtigung von Steuern bei der Bewertung von Unternehmen in Theorie und Praxis … Wertverzerrungen aus der Bewertung vermeiden zu können, wird eine Methode entwickelt, die eine konsistente Integration von persönlichen … eine mit der Ertragswertmethode oder Flow-to-Equity-Methode übereinstimmende und konsistentere Bewertung von …
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We address the question of whether various types of speculative investor correctly anticipate future USD/EUR currency movements or whether they tend rather to react to past exchange rate movements. Throughout the analysis, we differentiate between large and small traders, and an upper bound of...
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We argue that the tax capitalization effect is a function of the attention of market participants. Market reactions can therefore be driven not only by the announcement dates of tax events but also by factors influencing the dissemination of tax information, such as deadlines and media reports....
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This paper shows that, in the canonical dynamic rational expectations equilibrium model, public information about future noise trading is potentially detrimental to contemporaneous price efficiency. Our result supports concerns that social sentiment investing, sparked by growing availability of...
Persistent link: https://www.econbiz.de/10014559283
We develop an analysis of ex ante monitoring of risky projects in banking. If protected from competition, banks are more concerned about not catching good risk projects when the perceived state of the economy improves, while they are more concerned about being induced to finance bad risk...
Persistent link: https://www.econbiz.de/10011417798