abstract: the tax capacity is one of the main concepts in public finance and provides the required information on state economic power in mobilizing the tax resources for responding the financial problems and execution of economic policies. for this purpose, the main objective of this paper is to estimate the tax capacity for oil exporting countries over the period of 1995-2008 by applying pane...

We show in a two-period world with endogenous savings and two assets, one of them exhibiting a stochastic return that an interest adjusted income tax is optimal. This tax leaves a safe component of interest income tax free and taxes the excess return with a special tax rate. There is no trade off between risk allocation and efficiency in intertemporal consumption. Both goals are reached. As the...

This paper finds a strong relation between corporate credit default swap (CDS) information and higher moments of equity returns, as predicted by structural models. We use CDS spreads to measure the level of credit risk and to estimate credit market-implied risk premia. The results document that implied volatilities of equity options as well as ex-ante variance and skewness increase with CDS spr...

This paper studies the impact of income taxes on intensive and extensive labor supply decisions for older workers. The literature provides little evidence about the responsiveness of the older population to tax incentives, though the tax code is a potentially important mechanism for affecting retirement behavior. We estimate the intensive and extensive margins jointly with a new approach accoun...

Today, the concept of tax compliance has become a common phenomenon in the most countries and identifying the factors which affecting on it, specially internal and psychological factors instead of economic factors, attracted the attention of a large number of researchers in all over the world. So, the purpose of this study is to present a model of tax compliance with the realization approach of...

The study analyses the effect of tax avoidance, deferred expenses and liabilities on real earnings management. samples consist 152 manufacturing companies listed Indonesian Stock Exchange (IDX). examines financial statements from 2011 to 2019, ending up with 1,368 observations. empirical results this are as follows. First, avoidance affects positively abnormal discretionary operating cash flows...

Individuals investing in a Venture Capital Trust IPO listed on the London Stock Exchange receive a number of conditional tax incentives; the time related nature of the conditions can create a “lock in effect”. By deriving a dynamic model of the value of these incentives we examine how they influence investors’ pricing and trading decisions. This contributes to the ongoing tax capitalisation deb...