-firm variation and credible empirical designs. We identify this causal effect by exploiting the 2003 Tax Cut as a natural experiment …, which increased net-of-tax effective managerial ownership, and examine changes in Tobin's Q as well as alternative measures …

and the amount of the net (after-tax) salary cap represented by the personal income tax rate of the teams' home states. A … team from California (highest average tax rate) wins 2.256 games less per year and has an 11% reduced probability of making … the playoffs than a team located in a no-tax state such as Florida or Texas. The paper contributes to and informs the …

the 1980s. C-corporate form is subject to a time varying tax wedge, which offsets the productivity benefits. In a …-normal. The tax wedge then determines the fraction of firms that opt for C-corporate status, the level of economy-wide output … (productivity), the share of total output generated by C-corporations, and the sensitivity of this share to the tax wedge. This …