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Taxation and Venture Capital-backed Entrepreneurship
Christian Keuschnigg
Søren Bo Nielsen
出版
Centre for Economic Policy Research
, 2003
URL
http://books.google.com.hk/books?id=fhzdQgAACAAJ&hl=&source=gbs_api
註釋
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.
