Journal•ISSN: 0929-1261
European Journal of Law and Economics
Springer Science+Business Media
About: European Journal of Law and Economics is an academic journal published by Springer Science+Business Media. The journal publishes majorly in the area(s): Commercial law & European integration. It has an ISSN identifier of 0929-1261. Over the lifetime, 1052 publications have been published receiving 14200 citations.
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TL;DR: In this paper, the authors show that BTA can be both feasible and compatible with World Trade Organization (WTO) constraints, and they show that the BTA scheme can be implemented with a focus on CO2 emissions from certain processed materials and separate treatment of electric energy input.
Abstract: CO2 emission allowances help to internalise effects of fossil fuel consumption on global climate and sea levels. However, consumption, production and investment decisions do not reach the optimal allocation when the scheme is only implemented in some countries. Production with inefficient facilities in non-participating countries may even increase. Border tax adjustment (BTA) for costs incurred from procuring CO2 emission allowances reduces the leakage. We show that BTA can be both feasible and compatible with World Trade Organization (WTO) constraints. Practicable implementability requires a focus on CO2 emissions from certain processed materials and a separate treatment of electric energy input.
257 citations
TL;DR: In this article, the authors used a large data set (N = 3,071) on taxpayers from Austria, the United Kingdom, and the Czech Republic to investigate the role of trust and power in tax compliance.
Abstract: The “slippery slope” framework is an alternative approach for research in tax compliance that suggests two key variables to obtain taxpayers’ compliance: trust and power. Furthermore, two forms of compliance are distinguished. It is hypothesized that voluntary compliance depends primarily on trust in authorities, whereas enforced compliance is a function of the power attributed to authorities. Using a large data set (N = 3,071) on taxpayers from Austria, the United Kingdom, and the Czech Republic, these hypotheses could be confirmed. Furthermore, whereas voluntary compliance seems to be positively related to age and education, enforced compliance is negatively related to education.
202 citations
TL;DR: This article examined the relationship between two of the most pertinent corporate governance factors, the size of the Board of Directors and the proportion of non-executive directors, and firm performance on a sample of 58 large European banks over the period 2002-2004.
Abstract: Banks are “special” financial institutions generating distinct corporate governance challenges. The present paper examines the relationship between two of the most pertinent corporate governance factors—that is, the size of the Board of Directors and the proportion of non-executive directors—and firm performance on a sample of 58 large European banks over the period 2002–2004. The empirical analysis embraces a number of bank-specific variables. Our results reveal that bank profitability is negatively related to the size of the Board of Directors, while the impact of Board composition, although positive in all models, is, in most cases, insignificant. The results are robust after controlling for firm-specific variables.
160 citations
TL;DR: In this paper, an economic analysis of money laundering and of anti-money laundering regulation within a theoretical and normative framework is presented, which is then applied to the development of the Italian anti money laundering regulation in recent years.
Abstract: The paper undertakes an economic analysis of money laundering and of anti-money laundering regulation within a theoretical and normative framework. The model is then applied to the development of the Italian anti-money laundering regulation in recent years.
155 citations
TL;DR: In this paper, the authors examined how the organization of a civil-law judiciary (the German labour court system)shapes court performance and found that judges with higher ex ante promotion probabilities are less productive and write decisions that are less often confirmed.
Abstract: This paper examines how the organization of a civil-law judiciary—the German labour court system—shapes court performance. It is argued that civil-law judiciaries can be considered as internal labour markets in which the main incentive derives from career opportunities. Resulting hypotheses are tested on data for nine German Labour Courts of Appeal (Landesarbeitsgerichte) over the period 1980–1998. Two performance measures are computed: the confirmation rate and a productivity measure. The confirmation rate captures how often decisions are upheld in an appeal at the Federal Labour Court. Court productivity is measured by a score derived via data envelopment analysis (DEA) and includes as outputs the number of finished cases and the number of published decisions. Regression analyses show: Courts employing more judges with a Ph.D. are more productive, but write decisions that are less often confirmed by the Federal Labour Court. Courts employing judges with higher ex ante promotion probabilities are less productive and write decisions that are less often confirmed.
148 citations