| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13341 |
| 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 |
| URL | https://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. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
