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The efficiency costs of dividend taxation with managerial firms : presented at CESifo Area Conference on Public Sector Economics, April 2015

Köthenbürger, Marko; Stimmelmayr, Michael - 2015

The paper analyzes the efficiency costs of dividend taxation in an effort-based corporate agency model in which non …-verifiable managerial effort enhances taxable profits. We show that investment changes following a rise in dividend taxes might not be … sufficient to infer the efficiency cost of dividend taxation as well as the financing regime of the firm that underlies the …

Persistent link: https://www.econbiz.de/10011374208

Corporate taxation and corporate governance

Köthenbürger, Marko; Stimmelmayr, Michael - 2009

The effects of corporate taxation on firm behavior have been extensively discussed in the neoclassical model of firm behavior which abstracts from agency problems. As emphasized by the corporate governance literature, corporate investment behavior is however crucially influenced by diverging...

Persistent link: https://www.econbiz.de/10003923146

Introducing an IP licence box in Switzerland : quantifying the effects

Chatagny, Florian; Köthenbürger, Marko; Stimmelmayr, … - 2015 - This Version: July 2015

In response to the increasing international pressure on Switzerland to reform the ring-fenced elements in its tax system, the Swiss Government has put forward a comprehensive tax reform package. The proposal comprises, among other things, the introduction of a licence box, a substantial...

Persistent link: https://www.econbiz.de/10011300390

Introducing an IP licence box in Switzerland : quantifying the effects

Chatagny, Florian; Köthenbürger, Marko; Stimmelmayr, … - 2015 - This Version: July 2015

Persistent link: https://www.econbiz.de/10011297342

Profit shifting and investment effects : the implications of zero-taxable profits

Köthenbürger, Marko; Mardan, Mohammed; Stimmelmayr, … - 2018

Recent empirical research documents a tendency of affiliates of multinational enterprises to bunch around zero reported profit. Setting up a model that allows for profitable and loss-making affiliates of multinationals, we show that profit shifting to a low-tax country as well as a loss-related,...

Persistent link: https://www.econbiz.de/10011794726

Taxing multinationals in the presence of internal capital markets

Köthenbürger, Marko; Stimmelmayr, Michael - 2013 - This version: July 2013

There is ample evidence that internal capital markets incur efficiency costs for multinational enterprises (MNEs). This paper analyzes whether tax avoidance behavior interacts with the costs of running an internal capital market and how policies of competing governments respond to it. We show...

Persistent link: https://www.econbiz.de/10009773919

Taxing multinationals in the presence of internal capital markets

Köthenbürger, Marko; Stimmelmayr, Michael - 2013

Persistent link: https://www.econbiz.de/10009774965

Corporate deductibility provisions and managerial incentives

Köthenbürger, Marko; Stimmelmayr, Michael - 2013

Using an agency model of firm behavior, the paper analyzes whether the cost of investment should be tax exempt. The findings suggest that, when managers engage in wasteful capital expenditures, welfare may decline if the cost of investment is tax deductible, as commonly advocated. The extent to...

Persistent link: https://www.econbiz.de/10010227267

Introducing an IP license box in Switzerland : quantifying the effects

Chatagny, Florian; Köthenbürger, Marko; Stimmelmayr, … - 2016 - This version: October 2016

In response to mounting international pressure to reform the ring-fenced elements of its tax system, the Swiss government has put forward a comprehensive tax reform package. The proposal comprises the introduction of a license box, a substantial reduction in cantonal pro t tax rates, and an...

Persistent link: https://www.econbiz.de/10011557630