The Review of Business Taxation chaired by Mr John Ralph has suggested sweeping changes to business taxation in …

tax rate. We also found evidences, here, that the investments executed by those companies has contributed to compensate …

This work analyses the effect of public subsidies on firms’ investments and investment–cash flow sensitivity in a … that take into account the endogeneity of public subsidies. First, we find that the investments of small NTBFs are … not persist in the long run, the dependence of investments on cash flow remains negligible after receipt of the first …