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Dividends and Taxes
Gordon, Roger - 2006
How do dividend taxes affect firm behavior and what are their distributional and efficiency effects? To answer these questions, the first problem is coming up with an explanation for why firms pay dividends, in spite of their tax penalty
Persistent link: https://www.econbiz.de/10012466376
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Taxes and Growth in a Financially Underdeveloped Country : Evidence from the Chilean Investment Boom
Hsieh, Chang-Tai - 2006
This paper argues that taxation of retained profits is particularly distortionary in an economy with good growth prospects and poorly developed financial markets because it primarily reduces the investment of financially constrained firms, investment that has marginal product greater than the...
Persistent link: https://www.econbiz.de/10012466564
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Adverse Selection In Credit Markets and Regressive Profit Taxation
Scheuer, Florian - 2012
In many countries, taxes on businesses are less progressive than labor income taxes. This paper provides a justification for this pattern based on adverse selection that entrepreneurs face in credit markets. Individuals choose between becoming entrepreneurs or workers and differ in their skill...
Persistent link: https://www.econbiz.de/10012460254
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Dividend Taxation and Firm Performance with Heterogeneous Payout Responses
Bilicka, Katarzyna A.; Guceri, Irem; Koumanakos, … - National Bureau of Economic Research - 2022
We analyze the short and long-run performance of firms that were differentially affected by a new tax on dividends in the lead-up to the Global Financial Crisis. We use exogenous policy variation for firms with different legal statuses and financial year-end dates to causally identify the policy...
Persistent link: https://www.econbiz.de/10013477300
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The Price Impact of Joining a Currency Union : Evidence from Latvia
Cavallo, Alberto - 2014
consumption goods. We consider the case of Latvia, which recently dropped its pegged exchange rate and joined the euro zone. We … between Latvia and euro zone countries collapsed swiftly following entry to the euro. The percentage of goods with nearly … identical prices in Latvia and Germany increased from 6 percent to 89 percent. The median size of price differentials declined …
Persistent link: https://www.econbiz.de/10012458441