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Credit contracting between a lender with a market power and a small start-up entrepreneur may lead to a rejection of projects whose expected benefits are higher than their total costs when an adverse selection is present. This inefficiency may be eliminated by a government support in the form of...
Persistent link: https://www.econbiz.de/10010322247
Provision of credit guarantees or subsidies may remove an adverse selection leading to credit rationing. This paper concentrates on comparison of government budget costs of credit guarantees and subsidies in a monopolistic credit market. Different opportunity costs among entrepreneurs, which...
Persistent link: https://www.econbiz.de/10010322248
Persistent link: https://www.econbiz.de/10009640492
This paper attempts to address both theoretical and practical considerations for a tax such as financial transactions … financial markets is incomplete and imprecise, remains. However, globally, FTT remains a commonly used tax. A cross …
Persistent link: https://www.econbiz.de/10011807660
Commentators on the private equity industry often claim that favorable tax treatment gives private equity firms … advantages in the market for corporate control. But we show that tax advantages do not affect the equilibrium ownership of …. However, tax advantages are of importance under limited bidding competition, limited deductibility and in the presence of …
Persistent link: https://www.econbiz.de/10010320344
We study the effect of tax policy on stock market returns in the United States, Germany, and the United Kingdom using … GARCH models and a unique daily dataset of legislative tax changes during the period 1 December 1978 to 31 January 2018. We … find that days of discretionary tax legislation during all stages of the process often matter for returns, both in terms of …
Persistent link: https://www.econbiz.de/10012543679
Credit contracting between a lender with a market power and a small start-up entrepreneur may lead to a rejection of projects whose expected benefits are higher than their total costs when an adverse selection is present. This inefficiency may be eliminated by a government support in the form of...
Persistent link: https://www.econbiz.de/10003755164
Commentators on the private equity industry often claim that favorable tax treatment gives private equity firms … advantages in the market for corporate control. But we show that tax advantages do not affect the equilibrium ownership of …. However, tax advantages are of importance under limited bidding competition, limited deductibility and in the presence of …
Persistent link: https://www.econbiz.de/10003973520
This paper attempts to address both theoretical and practical considerations for a tax such as financial transactions … financial markets is incomplete and imprecise, remains. However, globally, FTT remains a commonly used tax. A cross …
Persistent link: https://www.econbiz.de/10008987104
Provision of credit guarantees or subsidies may remove an adverse selection leading to credit rationing. This paper concentrates on comparison of government budget costs of credit guarantees and subsidies in a monopolistic credit market. Different opportunity costs among entrepreneurs, which...
Persistent link: https://www.econbiz.de/10009152595