The French Securities Transaction Tax (also referred as French Tobin Tax) implementation on August 1st, 2012, is … drawbacks and applicability of a Securities Transaction Tax (STT) has not reached a conclusion and consequences for market … participants beside the transaction tax. Most alerting, as the tax affects trading on all French listing venues, we find this …

tax arbitrage (cross-platform and financial instrument shifting). I find large responses on all margins, that account for … regulated exchanges, with a high tax elasticity of this type of turnover in the order of -9. In contrast, real substitution from … taxed assets (measured by capitalization of tax costs in the short-run) is substantially smaller than would have otherwise …

By introducing a structure of the balance sheets of the banks, which takes into account their bilateral exposures in …

dearer during a recession. This provides support for prudential tools that give incentives for banks to build capital buffers … at times when the cost of equity is lower. In addition, banks with higher leverage face a higher cost of equity, which …

This paper studies the effects of the introduction of the French financial transaction tax in August 2012. With the tax …-term trading. We find that the financial transaction tax has a strong impact on trading intensity and liquidity supplier behavior … that policy makers need to be well aware of the links between tax design and investor behavior, before introducing a …

evidence of tax avoidance and aggressive tax planning in stress-test banks resulting in a 0.48 to 1.3 percentage point … reduction in cash tax paid relative to non-stress test banks. Banks with a large surge in tax avoidance post-Dodd-Frank tend to …We investigate the impact of mandatory transparency disclosure requirements on tax avoidance in US bank holding …

We investigate the consequences of banks' liquidity hoarding behavior for the stability of the financial system … role of liquidity hoarding in the 2007-2009 financial crisis, we incorporate banks' hoarding behavior in a standard … potential solvency contagion, a market shock leads to banks' liquidity hoarding that may generate problems of short-term funding …