The paper aims at designing a concept of neutral and equitable profit taxation which is legally reliable under imperfect foresight and which is compatible with basic principles of tax accounting, in particular with the historical cost convention. We show that this can be realized through...

Der Begriff des Kundenwerts ist vielschichtig und je nach Perspektive anders zu definieren. Es gibt verschiedene Herangehensweisen, den Kundenwert zu bestimmen, die jeweils unterschiedliche Ergebnisse liefern. Einen Überblick darüber gibt das vorliegende Diskussionspapier. Zu Beginn der Arbeit...

We document that investors can actually profit from the contemporaneous link between earnings accuracy and recommendation profitability (Loh and Mian (2006)). Differentiating between "able" and "lucky" analysts we suggest an implementable, i.e. look-ahead bias free, trading strategy that yields...

Asymmetric persistence of accounting income is often tested in a regression of changes in earnings on lagged changes in earnings, including an interaction term for negative changes (see Basu [1997] or Ball et al. [2009] for a recent overview). In this note we propose an alternative, but closely...