Tax Function Convexity, Risk-Taking, and Organizational Form Choice PDF Download
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Author: Rebecca Zarutskie
Publisher:
ISBN:
Category :
Languages : en
Pages : 40
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Book Description
This paper reconsiders the effects of taxes on firms' organizational form choices when there are differences in the convexity of firms' personal and corporate tax functions and when firms can choose the riskiness of their projects. Deadweight losses can occur when a firm chooses to be a corporate entity rather than a non-corporate entity in response to taxes and vice versa. This first type of tax distortion has been largely ignored in previous research. I provide evidence that this first type of distortion is occurring by examining the tax returns of a sample of S and C corporations. This evidence casts doubt on past estimates of the deadweight loss of the corporate tax.
Author: Rebecca Zarutskie
Publisher:
ISBN:
Category :
Languages : en
Pages : 40
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Book Description
This paper reconsiders the effects of taxes on firms' organizational form choices when there are differences in the convexity of firms' personal and corporate tax functions and when firms can choose the riskiness of their projects. Deadweight losses can occur when a firm chooses to be a corporate entity rather than a non-corporate entity in response to taxes and vice versa. This first type of tax distortion has been largely ignored in previous research. I provide evidence that this first type of distortion is occurring by examining the tax returns of a sample of S and C corporations. This evidence casts doubt on past estimates of the deadweight loss of the corporate tax.
Author: Roger H. Gordon
Publisher:
ISBN:
Category : Business enterprises
Languages : en
Pages : 46
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Book Description
Income from corporate and noncorporate firms is treated very differently under the tax law. To what degree do firms change their form of organization in response? Since the relative tax treatment depends on the tax bracket of the investor, the answer will vary by the bracket of the owners. To estimate the role of taxes, we estimate what size the nontax advantage to incorporating must take in each industry so that forecasted choices for organizational form, aggregated over investors in different tax brackets, are consistent with the aggregate evidence. While these nontax costs can be large, noncorporate activity tends to be concentrated in industries where these costs are small, leading to little excess burden from the tax distortion to organizational form.
Author: Aswath Damodaran
Publisher: Pearson Prentice Hall
ISBN: 0131990489
Category : Business & Economics
Languages : en
Pages : 409
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Book Description
Groundbreaking book that redefines risk in business as potentially powerful strategically to help increase profits. bull; Get out of your "defensive crouch ": learn which risks to avoid, which to mitigate, and which to actively exploit. bull; Master risk management techniques that can drive competitive advantage, increase firm value, and enhance growth and profitability. bull; By Dr. Aswath Damodaran, one of the field's top "gurus " - known worldwide for his classic guides to corporate finance and valuation.
Author: Roger H. Gordon
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: Georges Dionne
Publisher: John Wiley & Sons
ISBN: 1119583128
Category : Business & Economics
Languages : en
Pages : 416
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Book Description
An updated review of the theories and applications of corporate risk management After the financial crisis of 2008, issues concerning corporate risk management arose that demand new levels of oversight. Corporate Risk Management is an important guide to the topic that puts the focus on the corporate finance dimension of risk management. The author—a noted expert on the topic—presents several theoretical models appropriate for various industries and empirically verifies theoretical propositions. The book also proposes statistical modeling that can evaluate the importance of different risks and their variations according to economic cycles. The book provides an analysis of default, liquidity, and operational risks as well as the failures of LTCM, ENRON, and financial institutions that occurred during the financial crisis. The author also explores Conditional Value at Risk (CVaR), which is central to the debate on the measurement of market risk under Basel III. This important book: Includes a comprehensive review of the aspects of corporate risk management Presents statistical modeling that addresses recent risk management issues Contains an analysis of risk management failures that lead to the 2008 financial crisis Offers a must-have resource from author Georges Dionne the former editor of The Journal of Risk and Insurance Corporate Risk Management provides a modern empirical analysis of corporate risk management across industries. It is designed for use by risk management professionals, academics, and graduate students.
Author: Jeffrey K. MacKie-Mason
Publisher:
ISBN:
Category : Business enterprises
Languages : en
Pages : 25
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Book Description
Author: William A. Barnett
Publisher: Emerald Group Publishing
ISBN: 1789732751
Category : Business & Economics
Languages : en
Pages : 288
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Book Description
This volume of The International Symposia in Economic Theory and Econometrics explores and investigates contemporary challenges and issues facing the Asia-Pacific economies. For researchers and students of economics and finance, this volume is a fascinating exploration of emerging topics in one the fastest growing economies in the world.
Author: William J. Congdon
Publisher: Brookings Institution Press
ISBN: 0815704984
Category : Business & Economics
Languages : en
Pages : 260
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Book Description
Argues that public finance--the study of the government's role in economics--should incorporate principles from behavior economics and other branches of psychology.
Author: Rose McDermott
Publisher: University of Michigan Press
ISBN: 9780472087877
Category : Political Science
Languages : en
Pages : 256
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Book Description
Discusses the way leaders deal with risk in making foreign policy decisions
Author: Kenneth Train
Publisher: Cambridge University Press
ISBN: 0521766559
Category : Business & Economics
Languages : en
Pages : 399
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Book Description
This book describes the new generation of discrete choice methods, focusing on the many advances that are made possible by simulation. Researchers use these statistical methods to examine the choices that consumers, households, firms, and other agents make. Each of the major models is covered: logit, generalized extreme value, or GEV (including nested and cross-nested logits), probit, and mixed logit, plus a variety of specifications that build on these basics. Simulation-assisted estimation procedures are investigated and compared, including maximum stimulated likelihood, method of simulated moments, and method of simulated scores. Procedures for drawing from densities are described, including variance reduction techniques such as anithetics and Halton draws. Recent advances in Bayesian procedures are explored, including the use of the Metropolis-Hastings algorithm and its variant Gibbs sampling. The second edition adds chapters on endogeneity and expectation-maximization (EM) algorithms. No other book incorporates all these fields, which have arisen in the past 25 years. The procedures are applicable in many fields, including energy, transportation, environmental studies, health, labor, and marketing.
