Arbeitspapier
Do investors care about tax disclosure?
We assess the investor reaction to a potential introduction of public country-by-country reporting (CbCR) into the European Capital Requirements Directive IV. Estimating cumulative abnormal returns with the help of a multivariate regression model, we find weak significant evidence around our event date (February 20th, 2013) that investors perceive the introduction of CbCR as beneficial. In additional tests, we assess investor perceptions relative to different control groups (domestic institutions and non-EU institutions) and in the cross-section (splitting across size, systemically relevant, pre-event level of GAAP ETR and pre-event level of geographic disclosure). The only significant outcome is a negative reaction for large international EU institutions.
- Sprache
-
Englisch
- Erschienen in
-
Series: arqus Discussion Paper ; No. 254
- Klassifikation
-
Wirtschaft
Business Taxes and Subsidies including sales and value-added (VAT)
Tax Evasion and Avoidance
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Financial Institutions and Services: Government Policy and Regulation
- Thema
-
Country-by-country reporting
CbCR
financial institutions
investor reactions
eventstudy
multivariate regression model
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Flagmeier, Vanessa
Gawehn, Vanessa
- Ereignis
-
Veröffentlichung
- (wer)
-
Arbeitskreis Quantitative Steuerlehre (arqus)
- (wo)
-
Berlin
- (wann)
-
2020
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Flagmeier, Vanessa
- Gawehn, Vanessa
- Arbeitskreis Quantitative Steuerlehre (arqus)
Entstanden
- 2020
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