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Additionally to the financial crisis causing a world recession, Liechtenstein's financial sector has been challenged by the so-called "Zumwinkel-Affair", when a whistle-blower sold data of hundreds of tax evaders to international tax authorities. This paper investigates the impact of this affair...
Persistent link: https://www.econbiz.de/10010469942
Additionally to the financial crisis causing a world recession, Liechtenstein’s financial sector has been challenged by the so-called "Zumwinkel-Affair" when a whistle-blower sold data of hundreds of tax evaders to international tax authorities. This paper investigates the impact of this...
Persistent link: https://www.econbiz.de/10010128449
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 …
Persistent link: https://www.econbiz.de/10011447027
limited period). The stated reason for this sudden “demonetization” was to combat tax evasion and corruption associated with … is little evidence that sectors thought to be associated with greater tax evasion or corruption experienced significantly …
Persistent link: https://www.econbiz.de/10012942383
We explore the effects of tax avoidance and tax risk on stock return volatilities of U.S. firms. We find that firms with very low and very high levels of tax avoidance and firms with high levels of tax risk have more volatile stock returns. We observe that tax avoidance primarily affects stock...
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