Can corporate taxation be explained by limited liability?
(2010)
Book Chapter
Miglo, A. (2010). Can corporate taxation be explained by limited liability?. In W. Berube, & C. Pinto (Eds.), Taxation, tax policies and income taxes (201-205). Nova Science
We consider a model where wealth-constrained entrepreneurs have private information about the qualities of available investment projects. We show that some "high risk-high return" projects will receive external financing even if they are not socially... Read More about Can corporate taxation be explained by limited liability?.