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Unequal rewards to firms: Stock market responses to the Trump election and the 2017 corporate tax reform (American Economic Association Papers and Proceedings 2018)
Company stock price reactions to the 2016 election shock: Trump, taxes, and trade (Journal of Financial Economics 2018)
Spotlight on research on communication, deception, honesty, and protected values in financial markets:
- My talk on "What really motivates people to be honest in business" is featured on TED.com.
- In Gibson, Tanner and Wagner (AER 2013), we introduce the protected values scale in economics (drawing on work in psychology) and show that people with stronger protected values resist incentives to lie. The protected values scale used for the task at hand is here.
- This paper shows that social norm-based interventions work --- but that different people react very differently.
- We find that trade-off resistance is also reflected in brain activity.
- This study shows that investors may take CEOs' values into account when making investment choices, but this depends on investors' own values. (A practitioner summary is here.)
- Investors process managerial tone, but have a hard time processing vague talk.
|2005:||Ph.D. (Political Economy and Government), Harvard University|
|2001:||Dr. (Economics), University of Linz|
|2000:||Mag. (Law), University of Linz|
|1998:||Mag. (Economics), University of Linz|
Corporate finance and governance, behavioral finance, communication, experimental economics, political economy, regulation
Corporate finance, corporate governance, financial management
Other professional activities
- Chairman of the Board of Trustees, SWIPRA
- Independent Counsel, PricewaterhouseCoopers