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Profit Taxation, Innovation and the Financing of Heterogeneous Firms
Keuschnigg, Christian; Ribi, Evelyn - School of Economics and Political Science, Universität … - 2010
Credit constraints are more frequent among growth companies with large investment opportunities. For the same reason … investment opportunities to a larger extent. (ii) Taxes which are neutral in a neoclassical world, still restrict expansion … investment of constrained firms by reducing free cash-flow and thereby discourage innovation. (iii) A revenue neutral increase in …
Persistent link: https://www.econbiz.de/10008542833
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Profit Taxation, Innovation and the Financing of Heterogeneous Firms
Keuschnigg, Christian; Ribi, Evelyn - C.E.P.R. Discussion Papers - 2010
Credit constraints are more frequent among growth companies with large investment opportunities. For the same reason … investment opportunities to a larger extent. (ii) Taxes which are neutral in a neoclassical world, still restrict expansion … investment of constrained firms by reducing free cash-flow and thereby discourage innovation. (iii) A revenue neutral increase in …
Persistent link: https://www.econbiz.de/10008468605
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Venture Capital Backed Growth
Keuschnigg, Christian - School of Economics and Political Science, Universität … - 2002
The paper proposes a simple equilibrium model of venture capital, entrepreneurship and innovation. Venture capitalists not only finance but also advise start-up entrepreneurs and thereby add value to new firms. The paper demonstrates how a productive and active VC industry boosts innovation...
Persistent link: https://www.econbiz.de/10005453939
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Business Taxation, Corporate Finance and Economic Performance
Keuschnigg, Christian; Ribi, Evelyn - School of Economics and Political Science, Universität … - 2010
profit taxes reduce investment of constrained firms by their effect on cash-flow, and of unconstrained firms by their effect … on the user cost of capital. Moreover, tax reform as well as tax financed R&D subsidies can enhance aggregate investment …
Persistent link: https://www.econbiz.de/10008542827