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Viewing the development of the standard international tax neutrality discussion as being historically fairly limited because Musgrave's conclusions, rather than basic definitions, served as the undisputed baseline, in a previous article I reconsidered the classic international tax neutrality...
Persistent link: https://www.econbiz.de/10013083814
Tax policy in general and international income tax policy in particular has long been a subject of discussion and argument by tax philosophers, economists, and lawyers. Theories have often been introduced to support the establishment of new tax systems, to justify existing ones, or to call for...
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We investigate the cost of capital in a model with an agency conflict between inside managers and outside shareholders. Inside ownership reflects the classic tradeoff between incentives and risk diversification, and the severity of agency costs depends on a parameter representing investor...
Persistent link: https://www.econbiz.de/10011623466
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. Author applies the classical models of oligopoly to subsidy competition, endogenousing investment incentives, but leaving tax …This paper examines the microeconomic motivation of governments to provide tax incentives for foreign direct investment … rates exogenous. According to the conventional wisdom, subsidy competition leads to overprovision of incentives. This paper …
Persistent link: https://www.econbiz.de/10012751299
We explore one specific channel through which finance promotes growth: the allocation of capital. Using international industrial data, we find that countries with developed financial markets invest more in growing industries, and pull out more funds of declining ones. Most interestingly, this...
Persistent link: https://www.econbiz.de/10014046865
We investigate the cost of capital in a model with an agency conflict between inside managers and outside shareholders. Inside ownership reflects the classic tradeoff between incentives and risk diversification, and the severity of agency costs depends on a parameter representing investor...
Persistent link: https://www.econbiz.de/10013136994
Persistent link: https://www.econbiz.de/10000136115