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Employment and wage insurance within firms : worldwide evidence
Ellul, Andrew; Pagano, Marco; Schivardi, Fabiano - 2015
unemployment insurance across and within countries to gauge workers' demand for insurance. Using a firm-level panel from 41 … unemployment insurance: private and public provision of employment insurance are substitutes. …We investigate the determinants of firms' implicit insurance to employees, using a difference-indifference approach: we …
Persistent link: https://www.econbiz.de/10011337034
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Employment and Wage Insurance within Firms: Worldwide Evidence
Ellul, Andrew; Pagano, Marco; Schivardi, Fabiano - Centro Studi di Economia e Finanza (CSEF) - 2014
protection afforded by family firms is greater, and the wage discount larger, the less generous the public unemployment insurance …We investigate the determinants of firms’ implicit employment and wage insurance to employees against industry …-level and idiosyncratic shocks. We rely on differences between family and non-family firms to identify the supply of insurance …
Persistent link: https://www.econbiz.de/10010923394
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Employment and Wage Insurance within Firms : Worldwide Evidence
Ellul, Andrew - 2017
If unemployment insurance is more generous, workers should demand less implicit insurance from their employers: firm … this hypothesis exploiting cross-country and time-series variation in public unemployment insurance as a shifter of workers … unemployment insurance, while no such substitutability is present for non-family firms …
Persistent link: https://www.econbiz.de/10012972979
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Transparency, Tax Pressure and Access to Finance
Ellul, Andrew - 2018
In choosing transparency, firms must trade off the benefits from better access to finance against the cost of a greater tax burden. We study this trade-off in a model with distortionary taxes and endogenous rationing of external finance. The evidence from two different data sets, one formed only...
Persistent link: https://www.econbiz.de/10012940504
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Corporate Leverage and Employees’ Rights in Bankruptcy
Ellul, Andrew - 2019
Corporate leverage responds differently to employees' rights in bankruptcy depending on whether it is driven by strategic concerns in wage bargaining or by credit constraints. Using novel data on employees' rights in bankruptcy, we estimate their impact on leverage, exploiting time-series,...
Persistent link: https://www.econbiz.de/10012902012
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Does Increased Visibility to the IRS Cause Public Firms to Go Private? Evidence from FIN 48
Yost, Benjamin - 2021
This study investigates whether the introduction of a mandatory disclosure requirement (FIN 48), which had the effect of increasing public firms’ visibility to the tax authority, incentivized going-private transactions. Building on analytical work suggesting that disclosures required under FIN...
Persistent link: https://www.econbiz.de/10013233324
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How Do Firms Respond to Corporate Taxes?
Coles, Jeffrey L.; Patel, Elena; Seegert, Nathan; … - 2022
Using a novel empirical approach and newly available administrative data on U.S. tax filings, we estimate the corporate elasticity of taxable income, decompose the elasticity into economic responses versus other tax-motivated “accounting” transactions, and determine how responsiveness varies...
Persistent link: https://www.econbiz.de/10014239227
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Transparency, Tax Pressure and Access to Finance
Ellul, Andrew; Jappelli, Tullio; Pagano, Marco; … - C.E.P.R. Discussion Papers - 2012
In choosing transparency, firms must trade off the benefits from better access to finance against the cost of a greater tax burden. We study this trade-off in a model with distortionary taxes and endogenous rationing of external finance. The evidence from two different data sets, one formed only...
Persistent link: https://www.econbiz.de/10011084492
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Heads I Win, Tails You Lose : Asymmetric Taxes, Risk Taking, and Innovation
Albertus, James F. - 2019
When multinationals face lower tax rates abroad than in the US, transfer pricing strategies generate an asymmetry in the tax rates on a project's profits and losses. We show that the tax savings from transfer pricing can be expressed as a long position in a call option. We use a model to show...
Persistent link: https://www.econbiz.de/10012891653
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The Misrepresentation of Earnings
Dichev, Ilia D. - 2015
We ask nearly 400 CFOs about the definition and drivers of earnings quality, with a special emphasis on the prevalence and detection of earnings misrepresentation. CFOs believe that the hallmarks of earnings quality are sustainability, absence of one-time items, and backing by actual cash flows....
Persistent link: https://www.econbiz.de/10013034441