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Financial Leverage and Corporate Taxation : Evidence from German Corporate Tax Return Data
Dwenger, Nadja - 2011
corporate tax reform in Germany. The financial leverage is measured by the ratio of long-term debt to total capital. Endogeneity … tax rate on corporate leverage: on average, an increase of the tax rate by 10 percent would increase the financial … leverage by about 5 percent. We also find that the debt ratio is less responsive for small corporations and for corporations …
Persistent link: https://www.econbiz.de/10013134555
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The Failure of Northern Rock: A multi-dimensional Case Study
Congdon, Tim; Goodhart, Charles A.E.; Eisenbeis, Robert A. - 2009
In August 2007 the United Kingdom experienced its first bank run in over 140 years. Although Northern Rock was not a particularly large bank (it was at the time ranked 7th in terms of assets) it was nevertheless a significant retail bank and a substantial mortgage lender. In fact, ten years...
Persistent link: https://www.econbiz.de/10011689937
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Regulatory dualism as a development strategy : corporate reform in Brazil, the US, and the EU
Gilson, Ronald J.; Hansmann, Henry B.; Pargendler, Mariana - 2010
Countries pursuing economic development confront a fundamental obstacle. Reforms that increase the size of the overall pie are blocked by powerful interests that are threatened by the growth-inducing changes. This problem is conspicuous in efforts to create effective capital markets to support...
Persistent link: https://www.econbiz.de/10009506961
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Common law and the origin of shareholder protection
Acheson, Graeme G.; Campbell, Gareth; Turner, John D. - 2016
This paper examines the origins of investor protection under the common law by analysing the development of shareholder protection in Victorian Britain, the home of the common law. In this era, very little was codified, with corporate law simply suggesting a default template of rules....
Persistent link: https://www.econbiz.de/10011523499
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Common law and the origin of shareholder protection
Acheson, Graeme G.; Campbell, Gareth; Turner, John D. - 2016
This paper examines the origins of investor protection under the common law by analysing the development of shareholder protection in Victorian Britain, the home of the common law. In this era, very little was codified, with corporate law simply suggesting a default template of rules....
Persistent link: https://www.econbiz.de/10011521411
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Is regulation essential to stock market development? : going public in London and Berlin, 1900-1913
Burhop, Carsten; Chambers, David; Cheffins, Brian - 2011 - This Vers.: July 2011
This study of initial public offerings (IPOs) carried out on the Berlin and London stock exchanges between 1900 and 1913 casts doubt on the received "law and finance" wisdom that legally mandated investor protection is pivotal to the development of capital markets. IPOs that resulted in official...
Persistent link: https://www.econbiz.de/10009232393
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IFRS Adoption and Financial Results of EU Companies : The Challenge of Nomenclature - Evidence from the UK, France and Germany
Nnadi, Matthias - 2011
Since the adoption of International Financial Reporting Standard (IFRS) and the subsequent directive by the EU, all companies are required to report their consolidated financial statements in line with the IFRS prescribed formats. The study examines the consolidated financial statements of top...
Persistent link: https://www.econbiz.de/10013128822
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Regulating IPOs : Evidence from Going Public in London and Berlin, 1900-1913
Burhop, Carsten - 2012
We revisit debates on the regulation of IPOs by analyzing failure rates of IPOs carried out between 1900 and 1913 on the London and Berlin stock exchanges, two of the leading financial markets during the early 20th century. IPOs were regulated more heavily in Germany than in Britain and, as...
Persistent link: https://www.econbiz.de/10013114440
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Compensation Consultant Independence and CEO Pay
Tong, Naqiong - 2012
Critics allege that executive compensation consultants face potential conflicts of interest (lack of independence) that might lead to higher CEO pay. Conflicts of interest include the desires to "cross-sell" service and to secure "repeat business". Using a unique data set of compensation...
Persistent link: https://www.econbiz.de/10013115353
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The Influence of Stock Market Listing on Human Resource Management : Evidence for France and Britain
Conway, Neil - 2011
[enter Abstract Body]We use data from REPONSE 2004 and WERS 2004 to analyze whetherapproaches to HRM differ according to whether an establishment is part of a company with a stock exchange listing. In both countries we find that listing is positively associated with team working and...
Persistent link: https://www.econbiz.de/10013120346