demonstrates the neutrality properties of the reform with respect to investment, firm financial decisions and organizational choice …. Tax rates are chosen to prevent income shifting from labor to capital income. The reform decisively strengthens investment …

The paper proposes a simple equilibrium model of venture capital, entrepreneurship and innovation. Venture capitalists … productive and active VC industry boosts innovation driven growth. …

investment of constrained firms by reducing free cash-flow and thereby discourage innovation. (iii) A revenue neutral increase in …Credit constraints are more frequent among growth companies with large investment opportunities. For the same reason … endogenous share opts for innovation and faces credit constraints in the subsequent expansion phase. We emphasize four results …

investment of constrained firms by reducing free cash-flow and thereby discourage innovation. (iii) A revenue neutral increase in …Credit constraints are more frequent among growth companies with large investment opportunities. For the same reason … endogenous share opts for innovation and faces credit constraints in the subsequent expansion phase. We emphasize four results …

investment of constrained firms by reducing free cash-flow and thereby discourage innovation. (iii) A revenue neutral increase in …Credit constraints are more frequent among growth companies with large investment opportunities. For the same reason … endogenous share opts for innovation and faces credit constraints in the subsequent expansion phase. We emphasize four results …