We estimate the costly-arbitrage model of Boyd and Jagannathan (1994) using Norwegian stock market data. Taxable distributions take place at two separate dates, one that entails the distribution of an imputation-tax credit and another the distribution of the cash dividend. We find that the...

This paper reviews recent evidence analyzing the link between earnings management and corporate tax avoidance and considers the implications for how policymakers should evaluate the financial reporting environment facing firms. A real-world tax shelter is dissected to illustrate how tax shelter...

We examine how financial theory and economic principles offer guidance and predictions about the organization of investments and asset allocation decisions given the structure of taxes in estate - planning situations. We provide insight about many of the conventional approaches to estate...

After giving a short literature review, the paper tries a quantification of the volume of money laundering activities, with the help of a DYMIMIC estimation procedure for the years 1995 to 2006 for 20 highly developed OECD countries. The volume of laundered money was 273 billions USD in the year...

The present study discloses the results of a survey on the ethics of tax evasion that was distributed to accounting, business and law students in New Zealand. Eighteen arguments that have historically been used to justify tax evasion were ranked in terms of relative strength. Analyses were done...

A few years ago Inglehart et al did a massive survey on various aspects of human beliefs and values. Their teams surveyed 200,000 people in more than 80 countries, asking hundreds of questions. One of those questions addressed ethical issues relating to tax evasion. The Inglehart et al study...

The ethics of tax evasion has been discussed sporadically in the theological and philosophical literature for at least 500 years. Martin Crowe wrote a doctoral thesis that reviewed much of that literature in 1944. The debate revolved around about 15 issues. Over the centuries, three main views...

Recently, some European Union member states implemented corporate tax rules restricting the deductibility of interest payments. Most prominently, Denmark extended its thin capitalization rule by an interest stripping rule restricting a firm's interest deductions to 80 percent of EBIT. Similar...

I study large charitable gifts by Chairmen and CEOs of public companies using their own company stock as the donation currency. Unlike open market sales, gifts of stock are not subject to insider trading law and have very lenient disclosure requirements.Consistent with their exemption from...

In this paper the tax dodger phenomenon is approached from the perspective of the tax evasion identified as a consequence of the fiscal inspection activity.Based on the data referring to the level and dynamics of the tax dodger phenomenon have been made appreciations regarding the fiscal...