Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/48729
Authors: 
Keuschnigg, Christian
Egger, Peter
Winner, Hannes
Year of Publication: 
2011
Series/Report no.: 
Beiträge zur Jahrestagung des Vereins für Socialpolitik 2011: Die Ordnung der Weltwirtschaft: Lektionen aus der Krise - Session: Corporate Taxation B5-V2
Abstract: 
This paper provides a theory of incorporation and taxation that emphasizes the role of the corporate legal form in facilitating access to external capital and the potential advantages of limited liability. Incorporation relaxes financing constraints and makes corporations larger than comparable non-corporate firms. For the same reason, a tax on corporations imposes a smaller first order welfare loss than a tax on non-corporate firms. We study the consequences of tax reform and compare the role of taxation with other institutional reforms.
Subjects: 
Incorporation
corporate tax
external capital
limited liability
JEL: 
H25
G38
K34
Document Type: 
Conference Paper

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