Blaufus, Kay; Möhlmann, Axel; Schwäbe, Alexander - 2016
or evasion. Our hand-collected dataset includes 139 tax news items regarding listed German firms over the period from … avoidance) and illegal tax minimization (tax evasion). We show that stock market responses differ significantly between news … items concerning legal and illegal activities. While we find negative abnormal returns for tax evasion news, we find …