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The tax attractiveness of EU locations for corporate investments : a stocktaking of past developments and recent reforms

Gundert, Hannah; Nicolay, Katharina; Steinbrenner, Daniela - 2023

Tax incentives are a key component of governments’ investment policy mix as they directly impact companies’ tax burden …. In this paper, we illustrate the EU’s tax attractiveness as investment location over time in terms of effective average …

Persistent link: https://www.econbiz.de/10014472323

Competition for internal funds within multinational banks : foreign affiliate lending in the crisis

Kerl, Cornelia; Frey, Rainer - 2012

We investigate how the lending activities of a multinational bank’s affiliates located abroad are affected by funding difficulties in view of the financial crisis. For this, we consider transaction-induced changes in long-term lending to the private sector of 40 countries by the affiliates of...

Persistent link: https://www.econbiz.de/10009625687

How do investors value the publication of tax information? : evidence from the European public country-by-country reporting

Müller, Raphael; Spengel, Christoph; Weck, Stefan - 2021 - This version: October 2021

concerns play a significant role in the marginal investor's investment behavior. Furthermore, our cross-sectional results …

Persistent link: https://www.econbiz.de/10012648417

The effect of investing abroad on investment at home : on the role of technology, tax savings, and internal capital markets

Goldbach, Stefan; Nagengast, Arne J.; Steinmüller, Elias; … - 2017

This paper examines the relationship between foreign and domestic investment activity of multinational enterprises. The … investment in fixed assets. The empirical approach, which rests upon extensive and intensive margin variation, is shown to … produce very robust results. These suggest a positive relationship between foreign and home investment in real capital. This …

Persistent link: https://www.econbiz.de/10011649212

Do financial markets react to Bank of England communication?

Reeves, Rachel (contributor); Sawicki, Michael (contributor) - 2005

The effectiveness of a central bank’s monetary policymaking is determined by the merit of its policy actions and their perceived credibility. Since the 1990s central banks have placed more emphasis on clear communications and transparency as additional levers to help achieve their goals. In...

Persistent link: https://www.econbiz.de/10003384156

Inflation anchoring in the euro area

Speck, Christian - 2016

Did the decline in inflation rates from 2012 to 2015 and the low levels of market-based inflation expectations lead to de-anchored inflation dynamics in the euro area? This paper is the first time-varying event study to investigate the reaction of inflation-linked swap (ILS) rates - a...

Persistent link: https://www.econbiz.de/10011456474

Credit risk interconnectedness : what does the market really know?

Abbassi, Puriya; Brownlees, Christian; Hans, Christina; … - 2016

We analyze the relation between market-based credit risk interconnectedness among banks during the crisis and the associated balance sheet linkages via funding and securities holdings. For identification, we use a proprietary dataset that has the funding positions of banks at the bank-to-bank...

Persistent link: https://www.econbiz.de/10011456511

What moves markets?

Kerssenfischer, Mark; Schmeling, Maik - 2022

What share of asset price movements is driven by news? We build a large, time-stamped event database covering scheduled macro news as well as unscheduled events. We find that news account for about 50% of all bond and stock price movements in the United States and euro area since 2002,...

Persistent link: https://www.econbiz.de/10013202601

Fire buys of central bank collateral assets

Roure, Calebe de - 2017

In times of financial distress, central banks provide unlimited liquidity to avoid fire sales. In response, banks raise their demand for collateral assets, and the short-term scarcity of collateral securities leads to higher prices, the Fire Buy premium. To avoid collateral scarcity, central...

Persistent link: https://www.econbiz.de/10011587096

From financial to real economic crisis : evidence from individual firm-bank relationships in Germany

Dwenger, Nadja; Fossen, Frank M.; Simmler, Martin - 2015 - First version: February 14, 2015, This version: September 25, 2015

transmission of bank distress to the real economy - in particular, to real investment and labor employment by nonfinancial firms … supply downsize their real investment and labor employment significantly. This effect is larger for firms that are unable to …

Persistent link: https://www.econbiz.de/10011346644

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