Empire-building : underinvestment and capital gain taxation

Miglo, A ORCID: https://orcid.org/0000-0002-9237-5293 2011, 'Empire-building : underinvestment and capital gain taxation' , in: Business and finance : performance and management , Business economics in a rapidly-changing world , Nova Science, pp. 191-198.

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This note provides an explanation for why tax rates on capital gains are usually lower than ordinary income tax rates based on manager's agency problem related to "empire-building" and the under investment problem.

Item Type: Book Section
Editors: Morland, RB and Gagglione, AJ
Schools: Schools > Salford Business School
Journal or Publication Title: Business and Finance: Performance and Management
Publisher: Nova Science
Series Name: Business economics in a rapidly-changing world
ISBN: 9781611229363 (print); 9781621001546 (ebook)
Related URLs:
Depositing User: Dr Anton Miglo
Date Deposited: 25 May 2021 13:25
Last Modified: 04 Nov 2021 14:33
URI: http://usir.salford.ac.uk/id/eprint/60382

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