We argue that the tax capitalization effect is a function of the attention of market participants. Market reactions can therefore be driven not only by the announcement dates of tax events but also by factors influencing the dissemination of tax information, such as deadlines and media reports....

This paper addresses the question of how firms react to tax incentives in a formula apportionment (FA) tax regime. Under FA, profits of all consolidated entities of a business group are summed and then allocated according to a formula based on FA factors. We hypothesize that firms may change the...

This paper addresses the question of how firms react to tax incentives in a formula apportionment (FA) tax regime. Under FA, profits of all consolidated entities of a business group are summed and then allocated according to a formula based on FA factors. We hypothesize that firms may change the...

We argue that the tax capitalization effect is a function of the attention of market participants. Market reactions can therefore be driven not only by the announcement dates of tax events but also by factors influencing the dissemination of tax information, such as deadlines and media reports....

We analyse how tax incentives in the form of accelerated depreciations ("bonus depreciation") affect business investment. By exploiting exogenous variation in tax regulation of a regional bonus depreciation program in the former East Germany, we identify and quantify the impact from bonus...

This paper addresses the question of how firms react to tax incentives in a formula apportionment (FA) tax regime. Under FA, the profits of all consolidated entities of a business group are summed and then allocated according to a formula based on FA factors. We hypothesize that firms may change...

We analyze the relevande of losses, accounting information on tax loss carryforwards, and deferred taxes for the prediction of earnings and cash flows up to four years ahead. We use a unique hand-collected panel of German listed firms encompassing detailed information on tax loss carryforwards...

We analyse the relevance of losses, accounting information on tax loss carryforwards, and deferred taxes for the prediction of earnings and cash flows up to four years ahead. We use a unique hand-collected panel of German listed firms encompassing detailed information on tax loss carryforwards...

Der Einführungszeitpunkt der Abgeltungsteuer zum 1.1.2009 war schon lange in der Öffentlichkeit bekannt. Der Kapitalmarkttheorie folgend wäre bei vollständiger Verarbeitung der bekannten Informationen zu erwarten gewesen, dass die Marktteilnehmer die mit der Abgeltungsteuer verbundene...

Die Corona-Krise hat die Debatte über eine steuerliche Entlastung von Unternehmen neu belebt. Tatsächlich haben Reformen in Deutschland bereits seit 20 Jahren die Unternehmensbesteuerung deutlich gesenkt. Ziel ist es, im internationalen Steuerwettbewerb zu bestehen. Allerdings geht die neue...