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This paper investigates the impact of the yearly announcement of realized emissions on the European carbon permit market. We find that this event generally leads to significant absolute abnormal returns on the event day, which are accompanied by increased trading volumes and high intraday...
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tax reform of 2009 by triple-difference estimation, we find evidence of a delayed market reaction long after the …
Persistent link: https://www.econbiz.de/10011346698
tax reform of 2009 by triple-difference estimation, we find evidence of a delayed market reaction long after the …
Persistent link: https://www.econbiz.de/10011405098
into feudal tenures. Property purchased by expenses charged to the income interest remains part of the income interest and …. The subsidy does not “clearly reflect income.” Finally, preferential rates for capital gain provide relief from what …-developed goodwill, or of an income interest are ordinary assets, not capital. While capital gain has a principled meaning, there are …
Persistent link: https://www.econbiz.de/10012867658
This study empirically examines the role of risk sharing between taxable investors and the government on the relation between capital gains taxes and expected returns. Specifically, using an international panel from 26 countries over the period 1990 to 2004, we find evidence that the general...
Persistent link: https://www.econbiz.de/10013006684
How do dividend taxes affect stock volatility? In this paper, I use a decrease in dividend taxes as a natural experiment to identify their impact on firm's price volatility. If a risk-averse executive faces price risk through his incentive contract, changes in stock volatility due to dividend...
Persistent link: https://www.econbiz.de/10013021979
We investigate the stock price and trading volume effects of differential capital gains taxes applied to short and long-term capital gains when firms disclose public information. We extend the theoretical framework developed in Shackelford and Verrechia (2002) linking differential CGT to price...
Persistent link: https://www.econbiz.de/10012933494
This study empirically examines the role of risk sharing between taxable investors and the government on the relation between capital gains taxes and expected returns. Specifically, using an international panel from 26 countries over the period 1990 to 2004, we find evidence that the general...
Persistent link: https://www.econbiz.de/10012947505