scholarly journals Property Tax Limitations and Mobility: The Lock-in Effect of California's Proposition 13

2005 ◽  
Author(s):  
Nada Wasi ◽  
Michelle White
Keyword(s):  
Property Tax ◽  
Proposition 13 ◽  
Lock In Effect ◽  
Lock In ◽  
Tax Limitations

The Capital Gains Lock-In Effect and Earnings Quality

2019 ◽  
Author(s):  
Stephen G. Dimmock ◽  
Fan Feng ◽  
Huai Zhang
Keyword(s):  
Earnings Quality ◽  
Capital Gains ◽  
Lock In Effect ◽  
Lock In

scholarly journals Informal Reform of the United Nations Security Council

2018 ◽  
Vol 40 (1) ◽  
pp. 97-115
Author(s):  
Mariana Pimenta Oliveira Baccarini
Keyword(s):  
Cold War ◽  
United Nations ◽  
Security Council ◽  
United Nations Security Council ◽  
Decision Making Process ◽  
Institutional Perspective ◽  
The United Nations ◽  
Lock In Effect ◽  
The Cold War ◽  
Lock In

Abstract This article analyses attempts to reform the United Nations Security Council from a historical-institutional perspective. It argues that the possibilities for reform have suffered from a ‘lock-in’ effect that has rendered the UN resistant to change. On the other hand, the UN decision-making process has evolved since its establishment, especially since the end of the Cold War, in response to new power aspirations, making it more representative and legitimate. The Security Council has also undergone continuous informal reform that has allowed it to adapt to new times.

scholarly journals Howard Jarvis, Populist Entrepreneur: Reevaluating the Causes of Proposition 13

1999 ◽  
Vol 23 (2) ◽  
pp. 173-210 ◽  
Author(s):  
Daniel A. Smith
Keyword(s):  
Property Tax ◽  
Unintended Consequences ◽  
Letters To The Editor ◽  
Proposition 13 ◽  
Primary Election ◽  
Local Newspapers ◽  
Tax Limitation ◽  
Radio Programs ◽  
Ballot Measure ◽  
Opinion Polls

During the months immediately preceding California’s June 1978 primary election, Proposition 13, the fractious property tax ballot measure, received a dizzying amount of media attention. Newspaper columnists from California and around the country swapped partisan barbs, debating ad infinitum the initiative’s merits and faults. In public forums, political scientists and economists calculated and recalculated the measure’s possible effects and unintended consequences. Heated letters to the editor and sharp-edged political cartoons saturated the editorial pages of local newspapers. Opinion polls registered the public’s sentiment toward the measure on a weekly basis. Shrill advertisements touting either the necessity or the destructiveness of the proposition interrupted regularly scheduled television and radio programs. Indefatigable Howard Jarvis, the monomaniacal, septuagenarian leader of the tax limitation movement, was seemingly everywhere. By election day, the proponents and opponents of Prop 13 had spent over $2 million each on the measure (CFPPC 1988).

Complaint behaviour in multichannel retailing: a cross-stage approach

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Marta Frasquet ◽  
Marco Ieva ◽  
Cristina Ziliani
Keyword(s):  
Online Survey ◽  
Latent Class ◽  
Service Failure ◽  
Service Recovery ◽  
Content Type ◽  
Multichannel Retailing ◽  
Synergy Effects ◽  
Lock In Effect ◽  
Lock In ◽  
Post Purchase

PurposeThis paper analyses how the purchase channel and customer complaint goals affect the sequential choice of post–purchase complaint channels when customers experience a service failure followed by a service recovery failure (double deviation).Design/methodology/approachAn online survey involving a scenario manipulation was conducted with 577 apparel shoppers. The study employs multi-group latent class analysis to estimate latent customer segments within both online and offline groups of shoppers and compare latent classes between the two groups.FindingsThe results show that the purchase channel has a lock-in effect on the complaint channel, which is stronger for offline buyers. Moreover, there is evidence of channel synergy effects in the case of having to complain twice: shoppers who complain in store in the first attempt turn to online channels in the second complaint attempt, and vice versa. Complaint goals shape the choice of complaint channels and define different shopper segments.Originality/valueThe present study is the first to adopt a cross-stage approach that analyses the dependencies between the purchase channel and the complaint channel used on two subsequent occasions: the first complaint after a service failure and the second following a service recovery failure.

Germany's Repeal of the Corporate Capital Gains Tax: The Equity Market Response

2004 ◽  
Vol 26 (s-1) ◽  
pp. 73-97 ◽  
Author(s):  
Courtney H. Edwards ◽  
Mark H. Lang ◽  
Edward L. Maydew ◽  
Douglas A. Shackelford
Keyword(s):  
Abnormal Returns ◽  
Economic Effects ◽  
Capital Gains ◽  
Capital Gains Tax ◽  
Cross Sectional ◽  
Price Response ◽  
Corporate Capital ◽  
Market Values ◽  
Lock In Effect ◽  
Lock In

In late 1999, the German government made a surprise announcement that it would repeal the large and long-standing capital gains tax on sales of corporate crossholdings effective in 2002. The repeal has been hailed as a revolutionary step toward breaking up the extensive web of crossholdings among German companies. The lock-in effect from the large corporate capital gains tax was said to act as a barrier to efficient acquisition and divestiture of German firms and divisions. Many observers predicted that once the lock-in effect was removed, Germany would experience a flurry of acquisition and divestiture activity. Several other industrialized countries were poised to follow suit, with similar proposals pending in France, Japan, and the United Kingdom. This paper provides evidence of the economic impact of the repeal by examining its effect on the market values of German firms. While event studies of tax legislation can be difficult, our study is aided by the fact that the repeal was both a surprise and was announced separately from other tax reform proposals. In addition, we provide cross-sectional evidence on the economic magnitude of the repeal, assess the likely beneficiaries from the repeal, and predict which sectors are most likely to experience a surge in acquisition and divestiture activity following the repeal. Our results suggest that the economic effects are highly concentrated. We find a positive association between firms' event period abnormal returns and the extent of their crossholdings, consistent with taxes acting as a barrier to efficient allocation of ownership. However, the reaction is limited to the six largest banks and insurers and their extensive minority holdings in industrial firms. These six large firms have a combined market capitalization equal to 22 percent of all 394 firms in this study. We also find evidence of a positive stock price response to the announcement for industrial companies held by these financial firms, consistent with shareholders in those firms benefiting from the likely reduction in investor-level tax burdens and expected increased efficiency following the tax law change.

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