"Innovation requires investors that are willing to bear high risk and have a relatively long investment horizon. They also suggest that policies that discourage firm risk-taking are likely to reduce innovation. One example is corporate taxation. We developed a simple a model of firms' innovation decisions to illustrate how the current asymmetric tax treatment of profits and losses influence innovation investments and industry productivity in market equilibrium."
Trecho retirado de "Innovation, Firm Risk and Industry Productivity" de Mika Maliranta e Niku Määttänen
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