This paper studies the importance of politician's qualification, in terms of education and experience, for fiscal outcomes. The analysis is based on a large panel for 2,031 German municipalities for which we have collected information on municipal budgets as well as the election results and...

Vor dem Hintergrund einer zunehmend disparat verlaufenden Finanzlage der deutschen Kommunen begibt sich Marc Seuberlich mithilfe quantitativer und qualitativer Daten auf die Suche nach den möglichen Ursachen dieser Entwicklung. Forschungsleitend wird von der These ausgegangen, dass neben den...

Introduction -- Municipal Finances in Germany -- Participatory Budgeting – Origins, Diffusion and Research Findings -- Theoretical Framework and Hypotheses – Examination of Factors Explaining PB Adoption and Diffusion -- Empirical Analysis -- Conclusion and Outlook.

The paper analyzes the impact of in investor capital gains taxation on corporate leverage of Austrian corporations. We conduct our analyses for a unique sample of Austrian firms, including a large part of non-listed corporations. By means of regression analyses we show that the capital gains tax...

This paper examines the empirical link between severance pay and corporate finance. Severance pay is an economic debt of the employer and hence should be taken into account by the market in its assessments of risk. Using a hand collected dataset of accounting data from Italy and Austria we find...

The paper analyzes the impact of in investor capital gains taxation on corporate leverage of Austrian corporations. We conduct our analyses for a unique sample of Austrian firms, including a large part of non-listed corporations. By means of regression analyses we show that the capital gains tax...

This paper examines the empirical link between severance pay and corporate finance. Severance pay is an economic debt of the employer and hence should be taken into account by the market in its assessments of risk. Using a hand collected dataset of accounting data from Italy and Austria we find...