Miglo, A. (2011) Can corporate taxation be explained by limited liability? In: Morland, R. B. and Gagglione, A. J. (eds.) Business and Finance: Performance and Management. Nova Science Publishers: New York, pp. 185-190. ISBN 9781611229363
Full text not currently available from Enlighten.
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 Sections |
|---|---|
| Status: | Published |
| Glasgow Author(s) Enlighten ID: | Miglo, Dr Anton |
| Authors: | Miglo, A. |
| College/School: | College of Social Sciences > Adam Smith Business School > Accounting and Finance |
| Publisher: | Nova Science Publishers |
| ISBN: | 9781611229363 |
| Related URLs: |
University Staff: Request a correction | Enlighten Editors: Update this record
Deposit and Record Details
Deposit and Record Details