{"title":"Politically induced uncertainty and asset-market valuation","authors":"","doi":"10.1016/j.ejpoleco.2023.102427","DOIUrl":null,"url":null,"abstract":"<div><p>We study the consequences of politically induced asset-market uncertainty. Our data are from Poland, where the imposition of a new resource tax<span> 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.</span></p></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"84 ","pages":"Article 102427"},"PeriodicalIF":2.3000,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"European Journal of Political Economy","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S017626802300071X","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
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.
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).
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