In a study of the ownership of German corporations, we find a strong relation between board turnover and corporate performance, little association of concentrations of ownership with managerial disciplining and only limited evidence that pyramid structures can be used for control purposes. The...

The article presents a study on the application of some accounting concepts and functions in economic analysis. According to the author, his analysis will provide a basis on which accountants can discriminate between the alternative rules and standards available to them by reference to their...

This paper examines the influence of corporate tax exhaustion on the firm's financial and investment decisions. A dynamic programming model is used to establish effective marginal tax rates in the presence of a tax system that permits the carry forward of losses to future periods. The paper...

A model of firm financial and investment behaviour when there is a possibility of tax exhaustion is used to analyse the incentives for firms to act as lessees or lessors and the determination of the equilibrium rental rate in the leasing market. A number of results emerge which are relevant for...