Private Firms

Working Paper

Shareholder Illiquidity and Firm Behavior: Financial and Real Effects of the Personal Wealth Tax in Private Firms

We examine how negative liquidity shocks to households propagate to firms. We show that higher taxes on the home of private firms’ controlling shareholders are associated with higher dividend and salary payments from firms to shareholders and...Read more

Janis Berzins
Øyvind Bøhren
Bogdan Stacescu
02 January 2020

Is it Worthwhile to Augment the Legal Protection of Public Debt Placed by Privately Held Companies?

We examine the effects of a law amendment in Israel in 2011 that imposes a set of minimum corporate governance standards on privately held firms that issue publicly traded bonds. Two main results emerge. First, consistent with US evidence, the...Read more

Keren Bar-Hava
Roi Katz
Beni Lauterbach
22 November 2018

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