Bei einer Unternehmensbewertung nach IDW müssen grundsätzlich persönliche Einkommensteuern berücksichtigt werden. Nach dem früheren Anrechnungsverfahren (bis 2000) führten ausländische Einkünfte auf Ebene der Kapitalgesellschaft häufig zu steuerfreien Eigenkapitalzugängen. Bei...

Accounting and Financial methods are useful techniques for business, but their objective study should be inserted in the wider scope of Social Science. Historical issues determine policies and these ones, themselves, configure taxes and other environmental variables. Taxes, interest rates and...

The recent financial crisis has led to a major debate about fair-value accounting. Many critics have argued that fair-value accounting, often also called mark-to-market accounting, has significantly contributed to the financial crisis or, at least, exacerbated its severity. In this paper, we...

This paper examines capital market effects of changes in securities regulation. We analyze two key directives in the European Union (EU) that tightened market abuse and transparency regulation and its enforcement. All EU member states were required to adopt these two directives, but did so at...

We study a model where some investors (“hedgers”) are bad at information processing, while others (“speculators”) have superior information-processing ability and trade purely to exploit it. The disclosure of financial information induces a trade externality: if speculators refrain from...

We study a model where some investors ("hedgers") are bad at information processing, while others ("speculators") have superior information-processing ability and trade purely to exploit it. The disclosure of financial information induces a trade externality: if speculators refrain from trading,...

The process of improving Corporate Governance in emerging markets touches on a number of different aspects of the market organization. One essential area is the regulation, scope, timing and of procedure for mandatory disclosure of information. Disclosure is very important for investors, since...

Corporate criminal liability legislation has been the subject of a widespread debate around the world in response to the financial scandals of the early 2000s. The existing legal regimes en- tail compliance requirements, such as internal monitoring mechanisms, with the aim of inducing firms to...

Corporate liability regimes have two major social goals: (i) inducing corporations to internalize all social ramifications of their activity; and (ii) inducing corporations to prevent, deter, and report their employee misconduct. The scholarly polemic has shown that none of the liability regimes...