We investigate a previously overlooked type of non-tax cost associated with tax avoidance: the potential loss of earnings informativeness. Expected benefits from corporate tax planning include positive effects on after-tax earnings and an increase in firm value. However, tax avoidance can entail...

In a broad sample of publicly traded firms over the period 1988−2017, we observe that the share of firms reporting pre-tax book losses increased from about 20 to 35%. Of those loss firms, on aver-age 68% have positive cash tax payments (taxpaying loss firms). The amount of taxes paid by these...

er Autor setzt es sich zum Ziel, die Ursachen für die persistent hohe Arbeitslosigkeit und das schwache Wirtschaftswachstum in der BRD im Zeitraum 1991-2007 zu erklären. Dabei formuliert er ein gesamt­wirt­schaft­liches Kreislaufmodell, welches simultan die Inter­dependenzen zwischen der...