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dc.contributor.authorAchleitner, Ann-Kristinen
dc.contributor.authorBock, Carolinen
dc.contributor.authorWatzinger, Martinen
dc.date.accessioned2011-10-13-
dc.date.accessioned2011-10-21T13:50:02Z-
dc.date.available2011-10-21T13:50:02Z-
dc.date.issued2011-
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
dc.language.isoengen
dc.publisher|aTechnische Universität München, Center for Entrepreneurial and Financial Studies (CEFS) |cMünchenen
dc.relation.ispartofseries|aWorking Paper |x2011-04en
dc.subject.jelG24en
dc.subject.jelH25en
dc.subject.jelH32en
dc.subject.ddc330en
dc.subject.keywordcapital gains taxen
dc.subject.keywordventure capitalen
dc.subject.keywordinvestmenten
dc.titleThe capital gains tax: A curse but also a blessing for venture capital investment-
dc.typeWorking Paperen
dc.identifier.ppn669829137en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:cefswp:201104en

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