| 000 | 01447nab a2200241 c 4500 | ||
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| 003 | ES-MaIEF | ||
| 005 | 20221021185523.0 | ||
| 007 | ta | ||
| 008 | 221021t2022 us ||||| |||| 00| ||eng d | ||
| 040 |
_aES-MaIEF _bspa _cES-MaIEF |
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| 100 | 1 |
_aMoon, Terry S. _970127 |
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| 245 | 1 | 0 |
_aCapital gains taxes and real corporate investment _bevidence from Korea _c by Terry S. Moon |
| 500 | _aResumen | ||
| 504 | _aBibliografía | ||
| 520 | _aThis paper assesses the effects of capital gains taxes on investment in the Republic of Korea (hereafter, Korea), where capital gains tax rates vary at the firm level by firm size. Following a reform in 2014, firms with a tax cut increased investment by 34 log points and issued more equity by 9 cents per dollar of lagged revenue, relative to unaffected firms. Additionally, the effects were larger for firms that appeared more cash constrained or went public after the reform. Taken together, these findings are consistent with the "traditional view" predicting that lower payout taxes spur equity-financed investment by increasing marginal returns on investment. | ||
| 650 | 4 |
_aCAPITAL _933516 |
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| 650 | 4 |
_aIMPUESTO SOBRE LAS RENTAS DEL CAPITAL _948597 |
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| 650 | 4 |
_aEMPRESAS _943504 |
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| 650 | 4 |
_aINVERSIONES _947531 |
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| 650 | 4 |
_aCOREA DEL SUR _941319 |
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| 773 | 0 |
_9168202 _oOP 234/2022/8 _tThe American Economic Review _w(IEF)103372 _x 0002-8282 _gv. 112, n. 8, August 2022, p. 2669-2700 |
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| 942 | _cART | ||