This paper deals with the effects of tax rate uncertainty on risk-neutral and risk-averse investment behavior. We … analyze effects of stochastic tax rates on both real and financial investment. It emerges that under risk neutrality as well … as under risk aversion, increased tax rate uncertainty has an ambiguous impact on investment behavior, depending on the …

tax audits, and simplified estimates of capital tax bases in investment models. Uncertain returns on investment as well as … stochastic taxation contribute to overall uncertainty and may significantly affect investment decisions. Hitherto, it is unknown … how capital tax uncertainty affects investment timing. However, it is well known that both uncertainty and capital tax may …

This paper analyzes the impact of particular loss offset limitations on intrastate and crossborder investment decisions …. Investment can be realized in the investor's domestic business, in a foreign branch or in a foreign subsidiary. The relative … impact on the optimal real investment alternative compared to the optimal financial investment alternative indicates the …