Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/50558
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dc.contributor.authorAchleitner, Ann-Kristinen_US
dc.contributor.authorBock, Carolinen_US
dc.contributor.authorWatzinger, Martinen_US
dc.date.accessioned2011-10-13en_US
dc.date.accessioned2011-10-21T13:50:02Z-
dc.date.available2011-10-21T13:50:02Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/50558-
dc.description.abstractThis article documents a statistical association between the number and success of venture capital investments and the capital gains tax rate. To do this, we analyze investment data and taxes of 32 countries from 2000 to 2010. In our data, higher capital gains tax rates are associated with fewer firms financed and a lower probability for ventures receiving follow-up funding. However, if the first investment is received when taxes are high, the probability of a firm eventually going public or being acquired increases. We conclude that high tax rates are associated with fewer, but on average more successful companies.en_US
dc.language.isoengen_US
dc.publisher|aCenter for Entrepreneurial and Financial Studies (CEFS) |cMunichen_US
dc.relation.ispartofseries|aCEFS working paper series |x2011-04en_US
dc.subject.jelG24en_US
dc.subject.jelH25en_US
dc.subject.jelH32en_US
dc.subject.ddc330en_US
dc.subject.keywordcapital gains taxen_US
dc.subject.keywordventure capitalen_US
dc.subject.keywordinvestmenten_US
dc.titleThe capital gains tax: A curse but also a blessing for venture capital investmenten_US
dc.typeWorking Paperen_US
dc.identifier.ppn669829137en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:cefswp:201104-

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