G2TT
来源类型Discussion paper
规范类型论文
来源IDDP13341
DP13341 Heterogeneous Tax Sensitivity of Firm-level Investments
Peter Egger; Christian Keuschnigg
发表日期2018-11-29
出版年2018
语种英语
摘要This paper introduces a stylized theoretical framework to identify five different firm types depending on their financial situation and their ownership structure. Based on these firm types, the model explains the heterogeneous tax sensitivity of firm-level investments. Guided by the theoretical model, we empirically identify these partly latent firm types using a threshold estimation approach. The empirical analysis uses a large firm database for 17 countries allowing for a quantification of the regime-specific investment responses to taxation. We find important differences in the tax sensitivity of investment across firm-types for dividend as well as for corporate taxation. The impact of corporate taxation is up to 70% higher for entrepreneurial firms than for managerial firms. In contrast, dividend taxation has a comparable negative effect for cash-constrained managerial firms and entrepreneurial firms but no significant impact on their unconstrained counterparts.
主题Public Economics
关键词Corporate tax Personal taxes Firm heterogeneity Access to capital Manager-shareholder conflicts
URLhttps://cepr.org/publications/dp13341
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/542153
推荐引用方式
GB/T 7714
Peter Egger,Christian Keuschnigg. DP13341 Heterogeneous Tax Sensitivity of Firm-level Investments. 2018.
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