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Watch what I do, not what I say : the unintended consequences of the Homeland Investment Act

Dharmapala, Dhammika; Foley, C. Fritz; Forbes, Kristin - 2010 - Rev.

The Homeland Investment Act provided a tax holiday for the repatriation of foreign earnings. Advocates argued the Act … shows that repatriations did not increase domestic investment, employment or Ramp;Dmdash;even for firms that appeared to be …

Persistent link: https://www.econbiz.de/10003948309

Does costly reversibility matter for U.S. public firms?

Bai, Hang; Li, Erica X. N.; Xue, Chen; Zhang, Lu - 2019

level. The firm-level investment rate distribution is highly skewed to the right, with a small fraction of negative … estimated via simulated method of moments, the standard investment model explains the average value premium, while … simultaneously matching the key properties of the investment rate distribution, including the cross-sectional volatility, skewness …

Persistent link: https://www.econbiz.de/10012120359

Islamic Capital Markets for United States Parties : Overview and Select Shari'ah Governance Elements

McMillen, Michael J. T. - 2014

This is a chapter for the forthcoming book in West Publishing Company's Inside the Minds Series focusing on Financial Services Enforcement and Compliance (published by Aspatore Books). This chapter provides an overview of nature and current state of the markets for the equity side and debt...

Persistent link: https://www.econbiz.de/10013063503

Did Congress trade ahead? Considering the reaction of US industries to COVID-19

Goodell, John W. - 2020

During the ongoing COVID-19 pandemic in the US, there has been considerable media attention regarding several US legislators who traded stocks in late January through February 2020. The concern is that these legislators traded in anticipation of COVID-19 having a major impact on the financial...

Persistent link: https://www.econbiz.de/10012833226

Trade Policy Uncertainty and Global Stock Returns : Evidence from the 2016 US Presidential Election

Bui, Dien Giau; Hasan, Iftekhar; Lin, Chih-Yung; Vaike, … - 2023

Pástor and Veronesi (2012) develop a general equilibrium model to examine the relation between policy uncertainty and asset prices. Extending to their study, we develop a novel measure of firms’ uncertainty about the change in bilateral trade flows between each country and the US. We...

Persistent link: https://www.econbiz.de/10014362466

Customer flow, intermediaries, and the discovery of the equilibrium riskfree rate

Menkveld, Albert J.; Sarkar, Asani; Wel, Michel van der - 2008

Macro announcements change the equilibrium riskfree rate. We find that treasury prices reflect part of the impact instantaneously, but intermediaries rely on their customer order flow in the 15 minutes after the announcement to discover the full impact. We show that this customer flow...

Persistent link: https://www.econbiz.de/10003863839

The Triffin dilemma again

Campanella, Edoardo - 2010

Tiny changes in the American monetary policy can have dramatic effects on the rest of the world because of dollar's double role of national and international currency. This is the Triffin dilemma. The paper shows how it works through three examples: price of commodities, dollarization, and the...

Persistent link: https://www.econbiz.de/10008648332

Price adjustment to news with uncertain precision

Hautsch, Nikolaus (contributor); Hess, Dieter (contributor); … - 2008

Bayesian learning provides a core concept of information processing in financial markets. Typically it is assumed that market participants perfectly know the quality of released news. However, in practice, news' precision is rarely disclosed. Therefore, we extend standard Bayesian learning...

Persistent link: https://www.econbiz.de/10003693046

Are stock returns a leading indicator for real macroeconomic developments?

Burgstaller, Johann - 2002

I examine whether or not returns on stock markets are a leading indicator for real macroeconomic developments in Austria, Japan and the USA. Further I deal with the concept of stock market efficiency, the question whether or not information from real and financial sectors of the economy is...

Persistent link: https://www.econbiz.de/10009750238

Speed, algorithmic trading, and market quality around macroeconomic news announcements

Scholtus, Martin L.; Dijk, Dick van; Frijns, Bart - 2012

Persistent link: https://www.econbiz.de/10009724343

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