Abstract
This paper, by Steven Bank and Brian Cheffins, brings out the impact tax has on pattern of corporate ownership and control. It shows that taxes played an important role in the development of ownership in Britain and in the United States.
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The first work in this field was reported by MUTÉN, The Corporation Income Tax and The Cost of Capital (1968). It was followed by a strictly formalised analysis by KING/FULLERTON, The Taxation of Income from Capital: A Comparative Study of the United States, the United Kingdom, Sweden and West Germany (1984). This framework was developed to an open economy setting by BOVENBERG/ANDERSSON/ARAMAKI/CHAND, Tax Incentives and International Capital Flows: The Case of the United States and Japan, in: RAZIN/SLEMROD (eds.), Taxation in the Global Economy (1990). By focusing not only on the marginal effective tax rate but also on the average marginal effective tax rate, new measures were developed by DEVEREUX/GRIFFITH, Taxes and the location of production: evidence from a panel of U.S. multinationals, 68 Journal of Public Economics 335 (1998).
This appendix is based on the paper ANDERSSON/FALL, Capital Taxes and Wealth Accumulation (2001). It was presented at the SNEE conference in Mölle in May 2001.
TANZI, Taxation in an Integrating World (1995). He also compared countries over time and found that the savings ratio remained low for countries that maintained high tax rates on savings.
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© 2008 Springer-Verlag Berlin Heidelberg
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Andersson, K. (2008). Tax and the Separation of Ownership and Control — Comment on the paper by Steven Bank and Brian R. Cheffins. In: Schön, W. (eds) Tax and Corporate Governance. MPI Studies on Intellectual Property, Competition and Tax Law, vol 3. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-77276-7_10
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DOI: https://doi.org/10.1007/978-3-540-77276-7_10
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-77275-0
Online ISBN: 978-3-540-77276-7
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