Template-Type: ReDIF-Article 1.0 Author-Name: Silke Rünger Author-X-Name-First: Silke Author-X-Name-Last: Rünger Title: Is there a lock-in effect of corporate capital gains taxation? Evidence from the German market Abstract: The existence of a so-called lock-in effect, phenomena where individuals defer the disposal of an asset in order to avoid capital gains taxes, is well documented in empirical tax research. There is no empirical evidence, however, on whether this effect also occurs if assets are held by corporations rather than individuals. This paper uses a unique tax reform, the repeal of the German corporate capital gains tax on disposals of equity holdings in 2002, to test for the existence of a lock-in effect of corporate capital gains taxation. I apply a difference-in-difference approach and evaluate the effects of the repeal on the disposal behaviour of German firms. My results, based on an analysis of 655 corporate equity holdings over the period 1999-2005, show an immediate and widespread reaction by German firms to the repeal of the capital gains taxation in 2002 and therefore show evidence of a severe lock-in effect. My findings contribute to better understanding of the lock-in effect of corporate capital gains taxation. They can also help policymakers to identify the possible effects of any changes in corporate capital gains taxation on disposal behaviour of firms. Journal: Int. J. of Economics and Accounting Pages: 1-28 Issue: 1 Volume: 9 Year: 2018 Keywords: corporate capital gains; lock-in effect; taxation; Germany. File-URL: http://www.inderscience.com/link.php?id=94637 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijecac:v:9:y:2018:i:1:p:1-28 Template-Type: ReDIF-Article 1.0 Author-Name: Jose M. Plehn-Dujowich Author-X-Name-First: Jose M. Author-X-Name-Last: Plehn-Dujowich Author-Name: Vinay Ramani Author-X-Name-First: Vinay Author-X-Name-Last: Ramani Title: Signals of ability in an agency model Abstract: This paper analyses the trade-offs associated with relying on performance versus ability measures in executive compensation. We propose a principal-agent model with moral hazard and adverse selection in which the principal designs the compensation scheme to be contingent on the outcome of interest to the principal along with a noisy signal of the agent's ability. The signal of ability may include traditional measures of human capital, and information gleaned from private interactions with the agent. We show that, under empirically plausible conditions, the weight placed on the signal of ability is negative, while the weight placed on the outcome is positive; and an increase in one weight tends to be associated with a reduction in the other weight. Consequently, the principal may in fact prefer agents with inferior qualifications, rejecting those who are 'overqualified'; conversely, she may select an agent with a distinguished pedigree, rejecting agents who are 'underqualified'. Journal: Int. J. of Economics and Accounting Pages: 29-64 Issue: 1 Volume: 9 Year: 2018 Keywords: screening; ability; effort; compensation; pay-performance sensitivity. File-URL: http://www.inderscience.com/link.php?id=94638 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijecac:v:9:y:2018:i:1:p:29-64 Template-Type: ReDIF-Article 1.0 Author-Name: George Mickhail Author-X-Name-First: George Author-X-Name-Last: Mickhail Author-Name: Anthony Tinker Author-X-Name-First: Anthony Author-X-Name-Last: Tinker Author-Name: Aida Sy Author-X-Name-First: Aida Author-X-Name-Last: Sy Title: The neoliberal salvation of metacapitalism Abstract: The salvationary promise of immortality is equally seductive let alone dominant in our personal and professional lives alike. The promise of consulting firms of a company's global successful salvation is no different to human salvation. Consulting firms represent the modern religious experience to companies. It is our contention that a ritual such as: MetaCapitalism by the Consulting Cult, is an aggressive form of corporate colonisation of our social relations, of our identity as humans, and of life itself, which creates crises at all levels of our existence on a global scale, while degrading our emancipative creative qualities into alienated commodities that are far removed from the complexities of the human condition. The spectacle of socio-economic and political upheaval in the world today only overwhelms the disenfranchised populace who may be out in force making their discontent known and disconnects them from the powers that control their lives. Journal: Int. J. of Economics and Accounting Pages: 65-88 Issue: 1 Volume: 9 Year: 2018 Keywords: capitalism; organisations; socio-economy; metacapitalism; IT; critical accounting; labour process. File-URL: http://www.inderscience.com/link.php?id=94648 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijecac:v:9:y:2018:i:1:p:65-88