"Empire-building", underinvestment and capital gain taxation�
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Miglo, Anton (2010) "Empire-building", underinvestment and capital gain taxation�. Journal of Current Issues in Finance, Business and Economics, 2 (3). pp. 375-381. ISSN ESSN 1935-3553
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Abstract
This note provides an explanation for why tax rates on capital
gains are usually lower than ordinary income tax rates based on manager�s agency problem related to "empire-building" and the underinvestment problem.
| Item Type: | Article |
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| Subjects: | L100 Economics N100 Business studies N200 Management studies N300 Finance |
| Divisions: | Faculty of Business, Law and Social Sciences > Birmingham City Business School > Dept. Accountancy and Finance |
| Depositing User: | Anton Miglo |
| Date Deposited: | 21 Aug 2018 08:00 |
| Last Modified: | 21 Aug 2018 08:00 |
| URI: | http://www.open-access.bcu.ac.uk/id/eprint/6248 |
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