Miglo, A ORCID: https://orcid.org/0000-0002-9237-5293
2010,
'Can corporate taxation be explained by limited liability?'
, in:
Taxation, tax policies and income taxes
, Monetary, fiscal and trade policies
, Nova Science, pp. 201-205.
Abstract
We consider a model where wealth-constrained entrepreneurs have private information about the qualities of available investment projects. We show that some "high risk-high return" projects will receive external financing even if they are not socially profitable. Some "low risk-low return" projects will not be funded even if they are socially profitable. Government interventions can improve equilibrium. Optimal government policy may include corporate taxation, subsidies or other instruments. A universal tax on all entrepreneurs with limited liability is not optimal.
Item Type: | Book Section |
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Editors: | Berube, WJ and Pinto, CN |
Schools: | Schools > Salford Business School |
Journal or Publication Title: | Taxation, Tax Policies and Income Taxes |
Publisher: | Nova Science |
Series Name: | Monetary, fiscal and trade policies |
ISBN: | 9781607416265 (hardback) |
Related URLs: | |
Depositing User: | Dr Anton Miglo |
Date Deposited: | 25 May 2021 15:32 |
Last Modified: | 04 Nov 2021 14:33 |
URI: | http://usir.salford.ac.uk/id/eprint/60384 |
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