Presumptive income taxes in the form of a tax on turnover for SMEs are pervasive as a way to reduce the costs of compliance and administration. We analyze a model where entrepreneurs allocate labor to the formal and informal sectors. Formal sector income is subjected either to a corporate income...

Agencies can reduce problems by adopting a governance structure of multiple large shareholders. However, multiple large shareholders may collude, thereby reducing the behavior that can create long-term value for the company. This paper uses a sample of companies listed on the Shenzhen and...

We estimate the effects of unobserved skills on labor market outcomes by investigating a change in the distribution of unobserved skills. Among people with the same levels of observed skills such as education and work experience, there are still disparities in labor market outcomes. since...