incorporated firms to hire capital.This paper makes this point with a simple, capital-less model featuring entrepreneurs, with … entrepreneurs to diversify their assets. In discouraging incorporation, the corporate tax taxes business risk-sharing, keeping more … entrepreneurs private and, thus, exposed to more risk. The added risk experienced by these entrepreneurs limits their demands for …

incorporated firms to hire capital.This paper makes this point with a simple, capital-less model featuring entrepreneurs, with … entrepreneurs to diversify their assets. In discouraging incorporation, the corporate tax taxes business risk-sharing, keeping more … entrepreneurs private and, thus, exposed to more risk. The added risk experienced by these entrepreneurs limits their demands for …

This paper makes this point with a simple, capital-less model featuring entrepreneurs, with risky production …'s classification as a corporation subject to income taxation. But going public has an upside. It permits entrepreneurs to diversify … their assets. In discouraging incorporation, the corporate tax taxes business risk-sharing, keeping more entrepreneurs …