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Regulating Executive Pay : Assessing the Impact of the Tax-Deductibility Cap on Executive Compensation

Rose, Nancy L.; Wolfram, Catherine D. - 1999

This paper considers the effects of the 1993 legislation limiting the deductibility of non-performance-based executive compensation for corporate income tax purposes. We begin by describing the specific provisions of the legislation, and we discuss its possible effects on overall compensation...

Persistent link: https://www.econbiz.de/10014064241

CEO Cultural Heritage and the Pricing of Audit Services

Pham, Anh; Pham, Mia; Truong, Cameron - 2022

We construct preferences towards risk and uncertainty as reflected in the cultural heritage of CEOs managing public firms in the U.S. We demonstrate that auditors take into account cultural traits of CEOs in the pricing of their audit services. We also show CEO cultural heritage is associated...

Persistent link: https://www.econbiz.de/10013298719

Learning versus Diversification in Project Choice

Subramanian, Narayanan; Menon, Nidhiya - EconWPA - 2004

We study the issue of project choice when a risk-averse agent must choose whether to invest in two projects of the same type (focus) or of different types (diversification). Projects of the same type are subject to common type-specific shocks. Hence focusing is more risky within each period, but...

Persistent link: https://www.econbiz.de/10005407512

The effect of solvency regulations and accounting standards on long-term investing : implications for insurers and pension funds

Severinson, Clara; Yermo, Juan - 2012

This report reviews recent as well as planned changes to accounting and solvency regulations affecting insurers and pension funds and how they may impact long-term investing by these institutions. The review of existing evidence focuses mainly on the impact of risk-based solvency requirements,...

Persistent link: https://www.econbiz.de/10009684014

Director and Officer Liability and Corporate Tax Avoidance

Khan, Sarfraz; Park, Sung-Jin; Veliotis, Stan; Wald, John K. - 2022

We use the unique nature of the director and officer liability protection law applicable to Nevada-incorporated firms to study how liability protection is related to corporate tax avoidance. We find that firms incorporated in Nevada avoid 32 percent more federal corporate tax as a fraction of...

Persistent link: https://www.econbiz.de/10014239292

Credit Lines as Monitored Liquidity Insurance : Theory and Evidence

Ippolito, Filippo - 2012

form of monitored liquidity insurance. Bank monitoring and resulting credit line revocations help control illiquidity … because the cost of monitored liquidity insurance increases with liquidity risk. We exploit a quasi-experiment around the …

Persistent link: https://www.econbiz.de/10013105297

Credit Lines as Monitored Liquidity Insurance : Theory and Evidence

Acharya, Viral V. - 2013

Persistent link: https://www.econbiz.de/10013091385

Credit Lines and the Liquidity Insurance Channel

Acharya, Viral V. - 2018

We suggest a new mechanism–the liquidity insurance channel–based on the widespread reliance of high credit quality …

Persistent link: https://www.econbiz.de/10012936015

Insurance Companies and the Propagation of Liquidity Shocks to the Real Economy

Liu, Yubo - 2020

disaster-exposed insurers cause low GDP growth and high unemployment. Our results indicate that insurance companies propagate …We study the role of insurance companies in propagating liquidity shocks to the real economy. We use natural disasters … affects regional-level fiscal conditions and drives GDP growth and unemployment. We illustrate our approach with Hurricane …

Persistent link: https://www.econbiz.de/10012827830

The role of financial conditions in portfolio choices : the case of insurers

Ge, Shan; Weisbach, Michael S. - 2019

investors' financial conditions affect the management of their portfolios? We address this issue using the insurance industry …

Persistent link: https://www.econbiz.de/10012104637

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