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Corporate Ownership in France : The Importance of History

Murphy, Antoin E. - 2009

This paper attempts to show the importance of history in influencing the structure of corporate ownership in France. The strong concentration of family ownership in France is traced to historical weaknesses in the money and capital markets that forced families to have recourse to self-financing....

Persistent link: https://www.econbiz.de/10012767636

What are Firms? Evolution from Birth to Public Companies

Kaplan, Steven N. - 2014

We study how firm characteristics evolve from early business plan to initial public offering to public company for 49 venture capital financed companies. The average time elapsed is almost 6 years. We describe the financial performance, business idea, point(s) of differentiation, non-human...

Persistent link: https://www.econbiz.de/10012752543

Entrepreneurial Spawning : Public Corporations and the Genesis of New Ventures, 1986-1999

Gompers, Paul A. - 2014

This paper examines the factors that lead to the creation of venture capital backed start-ups, a process we term entrepreneurial spawning.' We contrast two alternative views of the spawning process. In one view, employees of established firms are trained and conditioned to be entrepreneurs by...

Persistent link: https://www.econbiz.de/10012752716

How Much Do Taxes Discourage Incorporation

MacKie-Mason, Jeffrey K.; Gordon, Roger H. - 2022

One of the most basic distortions created by the double taxation of corporate income is the disincentive to incorporate. In this paper, we investigate the extent to which the aggregate allocation of assets and taxable income in the U.S. between corporate vs. noncorporate forms of organization...

Persistent link: https://www.econbiz.de/10013322891

Firms' Decisions Where to Incorporate

Bebchuk, Lucian A.; Cohen, Alma - 2021

This paper empirically investigates the decisions of publicly traded firms where to incorporate. We study the features of states that make them attractive to incorporating firms and the characteristics of firms that determine whether they incorporate in or out of their state of location. We find...

Persistent link: https://www.econbiz.de/10013227026

Government, Openness and Finance : Past and Present

Demetriadis, Panicos - 2010

We explore the role of government in the nexus of finance and trade starting from the earliest days of organised … finance in England and then broadening the analysis to 84 countries from 1960 to 2004. For 18th century England, we find that …

Persistent link: https://www.econbiz.de/10013137020

How Does the U.S. Government Finance Fiscal Shocks?

Berndt, Antje - 2010

We develop a method for identifying and quantifying the fiscal channels that help finance government spending shocks …

Persistent link: https://www.econbiz.de/10013137024

Capitalizing China

Fan, Joseph P. H. - 2011

Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist features disguise the profoundly unfamiliar foundations of "market socialism with Chinese characteristics." The Chinese Communist Party (CCP), by controlling the career advancement...

Persistent link: https://www.econbiz.de/10013117212

On Fiscal Illusion and Ricardian Equivalence in Local Public Finance

Banzhaf, H. Spencer - 2012

We re-evaluate two forms of fiscal illusion in local public finance: debt illusion and renter illusion. The Ricardian … Equivalence Theorem for local governments suggests the form of finance of a public program (tax or debt finance) has no effects on … hundreds of open space referenda in the U.S. using a variety of finance mechanisms, we find evidence that households do prefer …

Persistent link: https://www.econbiz.de/10013107014

Why Do Emerging Markets Liberalize Capital Outflow Controls? Fiscal Versus Net Capital Flow Concerns

Aizenman, Joshua - 2013

In this paper, we provide empirical evidence on the factors that motivated emerging economies to change their capital outflow controls in the recent decades. Liberalization of capital outflow controls can allow emerging market economies (EMEs) to reduce net capital inflow (NKI) pressures, but...

Persistent link: https://www.econbiz.de/10013085490