The European Union's response to recent financial reporting scandals on both sides of the Atlantic reached a crucial stage recently when the European Parliament voted to accept the new 8th Company Law Directive. It takes the minimum harmonisation route to set the basic standards that Member...

This paper deals with the impact of tax-aggressive strategies on corporate governance by adopting an agency perspective of the firm and discusses how certain corporate tax governance measures may limit these kinds of managerial actions. We first clarify a few basic concepts such as tax...

Research in the sociology of culture and in the anthropology of consumption suggests that goods carry a symbolic value, to the extent that they provide users to express individual identity and to signal social status. In this paper, we examine the process of symbolic value creation. Building on...

While extensive research on the relationship between credit risk and spreads has been produced for bonds and loans separately, few studies have analyzed them jointly. We derive a simple structural model where a stochastic default barrier accounts for informational noise, and differences between...