Treasure Islands

Do Treasure Islands Create Firm Value?∗

They do! Otherwise, their use would not have been so prevalent among firms. How much firm value they create, however, is still an open question. Exploiting a political event in the U.K. that suddenly raised the cost of using tax havens, we find that there was a 0.87% reduction in cumulative abnormal return (CAR) among the sampled firms, corresponding to about £532 million in market capitalizati...

Whose ‘ Treasure Islands ’ ? the Role Of Tax Havens in the Global

Treasure Hunt *

We seed a large real-world social network with binary information and analyze subsequent social learning. A unique feature of our field experiment is that we measure both the pre-existing social networks and the actual conversation network. Our experiment allows us to test how rational agents behave when processing information that originates within their social network. We find that informatio...

Sinking treasure

social engagements. With the Bologna system, everything is fitted to match a 40 hour per week work schedule for the entire year allowing only for 6 weeks of holiday and one week of illness. Many students are now protesting against this reduction of university to a school-like system. Students also protested against tuition fees, which have been introduced only recently in a break with a long tr...

Tropical treasure trove

for Arid Zone Research, the site where much of the research is now done, although it is no longer owned by the CSIRO, but we could not find M. baogti on that day. The reasons are unclear why they were not out, as the ants are all over that site. We then went out of town to Simpson's Gap, a tourist attraction in the West McDonnells mountain range west of Alice Springs. In a magic moment on getti...