Politically induced uncertainty and asset-market valuation

IF 2.3 3区经济学 Q2 ECONOMICS

European Journal of Political Economy Pub Date : 2024-09-01 DOI:10.1016/j.ejpoleco.2023.102427

引用次数: 0

Abstract

We study the consequences of politically induced asset-market uncertainty. Our data are from Poland, where the imposition of a new resource tax was vaguely announced in a single sentence by the prime minister in November 2011. The tax concerned a single company, one of the world's leading copper and silver producers. We show how the announcement, besides imposing losses as expected on shareholders, introduced uncertainty into asset-market valuation.

查看原文本刊更多论文

政治引发的不确定性和资产市场估值

我们研究了政治因素引发的资产市场不确定性的后果。我们的数据来自波兰，2011 年 11 月，波兰总理用一句话含糊地宣布征收新的资源税。该税只涉及一家公司，即世界领先的铜银生产商之一。我们展示了该公告除了给股东带来预期损失外，还如何给资产市场估值带来不确定性。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

European Journal of Political Economy Multiple-

CiteScore

3.40

自引率

10.00%

发文量

106

期刊介绍： The aim of the European Journal of Political Economy is to disseminate original theoretical and empirical research on economic phenomena within a scope that encompasses collective decision making, political behavior, and the role of institutions. Contributions are invited from the international community of researchers. Manuscripts must be published in English. Starting 2008, the European Journal of Political Economy is indexed in the Social Sciences Citation Index published by Thomson Scientific (formerly ISI).