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Bolton, Patrick; Wang, Neng; Chen, Hui - National Bureau of Economic Research (NBER) - 2014

We analyze a model of optimal capital structure and liquidity choice based on a dynamic tradeoff theory for financially …

Persistent link: https://www.econbiz.de/10010796667

The Impact of Tax Incentives on the Economic Activity of Entrepreneurs

Harju, Jarkko; Kosonen, Tuomas - National Bureau of Economic Research (NBER) - 2012

Based on existing evidence, we know little about how the taxation of small business owners affects their economic activity. This paper studies the effect of two Finnish tax reforms, in 1997 and 1998, on the effort decisions of the owners of small businesses utilizing both theoretical model and...

Persistent link: https://www.econbiz.de/10010578388

Optimal Taxation in Theory and Practice

Weinzierl, Matthew C; Mankiw, N. Gregory; Yagan, Danny - National Bureau of Economic Research (NBER) - 2009

We highlight and explain eight lessons from optimal tax theory and compare them to the last few decades of OECD tax … policy. As recommended by theory, top marginal income tax rates have declined, marginal income tax schedules have flattened … theory. Moreover, some of theory's more subtle prescriptions, such as taxes that involve personal characteristics, asset …

Persistent link: https://www.econbiz.de/10005660153

Consumption Taxes: Some Fundamental Transition Issues

Bradford, David F. - National Bureau of Economic Research (NBER) - 1995

A number of tax reform plans under discussion in the United States would replace the existing hybrid income-based system with a consumption-based system. In this paper I use uniform (single-rate) consumption and income taxes: (a) to explain how the problem of taxing 'old savings' or 'old...

Persistent link: https://www.econbiz.de/10005774553

Capital Levies and Transition to a Consumption Tax

Kaplow, Louis - National Bureau of Economic Research (NBER) - 2006

The merits of capital levies depend on the likelihood of repetition, the extent of anticipation, and its effects on distribution. The relevance of these features, which in varying degrees is underdeveloped or underappreciated in pertinent literatures, is elaborated and then considered with...

Persistent link: https://www.econbiz.de/10005830739

Did Firms Substitute Dividends for Share Repurchases after the 2003 Reductions in Shareholder Tax Rates?

Shackelford, Douglas A.; Blouin, Jennifer L.; Raedy, … - National Bureau of Economic Research (NBER) - 2007

(particularly officers and managers) when setting dividend and share repurchase policies. …

Persistent link: https://www.econbiz.de/10005720020

Investment, Accounting, and the Salience of the Corporate Income Tax

Edgerton, Jesse - National Bureau of Economic Research (NBER) - 2012

This paper develops and tests the hypothesis that accounting rules mitigate the effect of tax policy on firm investment decisions by obscuring the timing of tax payments. I model a firm that maximizes a discounted weighted average of after-tax cash flows and accounting profits. I estimate the...

Persistent link: https://www.econbiz.de/10010969285

Do Multinationals or Domestic Firms Face Higher Effective Tax Rates?

Shackelford, Douglas A.; Markle, Kevin S. - National Bureau of Economic Research (NBER) - 2009

To our knowledge, this paper provides the most comprehensive analysis of firm-level corporate income tax expenses to date. We use publicly available financial statement information to estimate firm-level effective tax rates (ETRs) for 10,642 corporations from 85 countries from 1988 to 2007. We...

Persistent link: https://www.econbiz.de/10005055444

Deferred Tax Positions and Incentives for Corporate Behavior Around Corporate Tax Changes

Poterba, James; Rao, Nirupama; Seidman, Jeri - National Bureau of Economic Research (NBER) - 2007

A firm's deferred tax position can influence how it is affected by a transition from one tax regime to another. We compile disaggregated deferred tax position data for a sample of large U.S. firms between 1993 and 2004 to explore how these positions might affect firm behavior before and after a...

Persistent link: https://www.econbiz.de/10005828919

Using Tax Return Data to Simulate Corporate Marginal Tax Rates

Graham, John R.; Mills, Lillian F. - National Bureau of Economic Research (NBER) - 2007

We document that simulated corporate marginal tax rates based on financial statement data (Shevlin 1990 and Graham 1996a) are highly correlated with simulated rates based on corporate tax return data. We provide algorithms that can be used to estimate the book or tax simulated rates when they...

Persistent link: https://www.econbiz.de/10005830902