Empire-building: underinvestment and capital gain taxation

Miglo, A. (2011) Empire-building: underinvestment and capital gain taxation. In: Morland, R. B. and Gagglione, A. J. (eds.) Business and Finance: Performance and Management. Nova Science Publishers: New York, pp. 191-198. ISBN 9781611229363

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This note provides an explanation for why tax rates on capital gains are usually lower than ordinary income tax rates based on manager's agency problem related to "empire-building" and the under investment problem.

Item Type:Book Sections
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
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