Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/76057
Authors: 
Panteghini, Paolo
Year of Publication: 
2002
Series/Report no.: 
CESifo Working Paper 717
Abstract: 
This article discusses the effects of an asymmetric tax scheme on incremental and sequential investment strategies. The tax base is equal to the firm's return, net of an imputation rate. When the firm's return is less than this rate, however, no tax refunds are allowed. This scheme is neutral under both income and capital uncertainty.
Subjects: 
corporate taxation
real options
Document Type: 
Working Paper

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