Browsing Department of Economics (ECON) by Subject "selskabsskatter"
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Nielsen, Søren Bo; Raimondos-Møller, Pascalis; Schjelderup, Guttorm (Munich, 2001)[More information][Less information]
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Nielsen, Søren Bo; Raimondos-Møller, Pascalis; Schjelderup, Guttorm (København, 2000)[More information][Less information]
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Keuschnigg, Christian; Nielsen, Søren Bo (København, 2003)[More information][Less information]
Abstract: In recent years, venture capital has increasingly become a factor in the financing of new firms. We examine how the value of mature firms determines the incentives of entrepreneurs to start up new firms and of venture capitalists to finance and advise them. We examine how capital gains taxes as well as subsidies to start-up costs of new firms affect venture capital-backed entrepreneurship. We also argue that dividend and capital gains taxes on mature firms have important consequences for start-up firms as well. JEL Classification: D82, G24, H24 and H25 Keywords: double moral hazard, entrepreneurship, taxes and venture capital URI: http://hdl.handle.net/10398/7592 Files in this item: 1
cepr nr. 4097.pdf (464.2Kb) -
GreenlandVesterø Jensen, Carsten; Nielsen, Søren Bo (København, 2003)[More information][Less information]
Abstract: This paper provides an assessment of Greenland's tax system and contemplates changes that may be undertaken in the future to prepare for greater economic self-reliance and for the country's participation in the wider world economy. At the outskirts of Europe, Greenland is an autonomous part of the Danish kingdom, though currently not a member of EU. However, its cooperation with European countries and its dependency on international trade renders it necessary for the tax system in Greenland to be attuned to developments in the rest of the world. Drawing on a thorough international benchmarking analysis of Greenland's tax system, the paper's special focus will be on the corporate tax system and its interplay with personal taxation, as well on as the system of import duties. In particular, we carry out computations of effective marginal and average corporate tax rates, as well as average effective tax burdens on consumption, labour income and capital income, and compare these to similar measures for EU countries. In addition, we outline how Greenland's economic policy in other areas interferes with tax policy. Especially fishery regulation, management of government-owned companies, and housing policy have major implications for the tax system. Key words: international benchmarking, effective tax rates, Greenland JEL: H20, H25 URI: http://hdl.handle.net/10398/7595 Files in this item: 1
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RevisitedLund, Diderik (København, 2003)[More information][Less information]
Abstract: Levy and Arditti (1973) introduced depreciable assets into the Modigliani and Miller (1958) model, and analyzed the implications for the cost of capital. Assuming that the firm reinvests indefinitely to maintain a constant expected cash flow, they found that depreciation increases the cost of capital before and after tax. Most of their assumptions are maintained. However, commitment to perpetual reinvestment is in most cases not a reasonable assumption. Without it, depreciation decreases the cost of capital before and after tax. The effect of depreciation is less in absolute value than in Levy and Arditti, but not insignificant. Keywords: Cost of capital, depreciation, corporate taxes JEL classification numbers: G31, H25 URI: http://hdl.handle.net/10398/7583 Files in this item: 1
wpec032003.pdf (138.8Kb)
Now showing items 1-5 of 5