"Empire-building", underinvestment and capital gain taxation�

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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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
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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