Showing 1 - 10 of 6,876
Amidst the recent resurgence of inflation, this paper investigates the interplay of corporate profits and income distribution in shaping inflation and aggregate demand within the New Keynesian framework. We derive a novel analytical condition for profits to be procyclical and inflationary....
Persistent link: https://www.econbiz.de/10014337850
potential loss of profit. By enabling firms to retain only a very small fraction of these potential revenues, the government can …
Persistent link: https://www.econbiz.de/10012471113
This paper examines the impact of capital gains taxes on equity pricing. Examining three-day cumulative abnormal returns for quarterly earning announcements from 1983-1997, we present evidence consistent with shareholders' capital gains taxes affecting stock price responses. To our knowledge,...
Persistent link: https://www.econbiz.de/10012471123
Why are higher quality niches seen as intrinsically more profitable in business circles? Why do high quality products sometimes have a low real price, while it is unusual to see low quality products with high real prices? Can markets have quality differentiation as well as quality bunching? In...
Persistent link: https://www.econbiz.de/10012471282
This paper evaluates the effects of fiscal policy on investment using a panel of OECD countries. In particular, we investigate how different types of fiscal policy affect profits and , as a result, investment. We find a sizable negative effect of public spending -- and in particular of its...
Persistent link: https://www.econbiz.de/10012471581
This paper evaluates various explanations for the profitability of momentum strategies documented in Jegadeesh and Titman (1993). The evidence indicates that momentum profits have continued in the 1990's suggesting that the original results were not a product of data snooping bias. The paper...
Persistent link: https://www.econbiz.de/10012471628
Profit on proprietary research tools is determined partly by the remedies for infringement, such as damages and …, called lost profit or reasonable royalty, suffers from a logical circularity which leads to an indeterminacy in permissible …
Persistent link: https://www.econbiz.de/10012471710
This paper estimates the profits to insiders when they trade their company's stock. We construct a rolling purchase portfolio' that holds all shares purchased by insiders over the previous year and an analogous sale portfolio' that holds all shares sold by insiders over the previous year. We...
Persistent link: https://www.econbiz.de/10012471898
One possible explanation for home bias is that investors may obtain indirect international diversification benefits by investing in multinational firms rather than by investing directly in foreign markets. This paper employs mean-variance spanning tests to examine the diversification potential...
Persistent link: https://www.econbiz.de/10012472081
profit-deviating preferences from the state-defined regulatory status of nonprofit production. We argue that this separation … is crucial in providing predictions about the underlying forces which allow the coexistence of nonprofit and for-profit … separating choice of nonprofit status from profit-deviating preferences, the paper provides predictions about the forces which …
Persistent link: https://www.econbiz.de/10012472441