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Corporate Tax Rates and the Purchasing Power Parity Doctrine (open access)

Corporate Tax Rates and the Purchasing Power Parity Doctrine

This thesis analyzes the effect of corporate tax rates on the purchasing-power-parity (PPP) doctrine. The data used to test this hypothesis are drawn from the U. S., the U. K., the Federal Republic of Germany, Canada, and Japan. The first chapter introduces the reader to the concepts of the PPP doctrine and states the hypothesis. Chapter 2 reviews the literature on the PPP doctrine. Chapter 3 specifies a model of the PPP doctrine including tax rates. Chapter 4 reports and interprets the findings. The study is summarized and conclusions are drawn in chapter 5. In this study it is shown that tax rates are significant only in the case of the U. S. dollar/Canadian dollar exchange rate.
Date: August 1988
Creator: Ballard, Billy L. (Billy Lanoy)
System: The UNT Digital Library
Stock Returns and the Brazilian Default an Analysis of the Efficient Market and Contagion Effect Hypotheses (open access)

Stock Returns and the Brazilian Default an Analysis of the Efficient Market and Contagion Effect Hypotheses

This thesis attempts to analyze the market response of stock prices of major U.S. banks to the February, 1987 Brazilian loan default announcement. The study's general hypothesis is that the market revalued stock prices according to each bank's amount of Brazilian loan exposure. The first chapter examines the significance of the default announcement. A survey of related literature is presented in the second chapter. Chapter III specifies the methodological techniques involved in analysis of the data. Chapter IV reports the findings of the study. Conclusions about the results are drawn in Chapter V. The results indicate the market is efficient. They also suggest that individual exposure was the major determinant of bank stock price decline.
Date: August 1988
Creator: Mynatt, Joseph Ross
System: The UNT Digital Library