Innovation, Trade and Finance

Item Type Monograph (Discussion Paper)
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.

Authors Keuschnigg, Christian & Egger, Peter
Language English
Keywords Innovation, financial development , R&D subsidies, protection.
Subjects economics
HSG Classification contribution to scientific community
Refereed No
Date 10 February 2012
Page Range 1-44
Number of Pages 44
Depositing User Prof. Dr. Christian Keuschnigg
Date Deposited 23 Mar 2010 09:25
Last Modified 05 Jun 2020 00:21
URI: https://www.alexandria.unisg.ch/publications/61205

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Citation

Keuschnigg, Christian & Egger, Peter: Innovation, Trade and Finance. 2012, S. 1-44.

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https://www.alexandria.unisg.ch/id/eprint/61205
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