DO TAX CUTS ENCOURAGE RENT SEEKING BY TOP CORPORATE EXECUTIVES? THEORY AND EVIDENCE

被引：2

作者：

Andersen, Dana C. ^{[1
]}

Lopez, Ramon ^{[2
]}

机构：

[1] Univ Alberta, Dept Econ, 9-23 HM Tory, Edmonton, AB T6G 2H4, Canada

[2] Univ Chile, Dept Econ, 257 Diagonal Paraguay, Santiago 8330015, Chile

来源：

CONTEMPORARY ECONOMIC POLICY | 2019年 / 37卷 / 02期

关键词：

TAXABLE INCOME; GOVERNANCE; PERFORMANCE; INEQUALITY; RATES;

D O I：

10.1111/coep.12278

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper explores the role of tax policy in shaping incentives for executive effort (labor supply) and rent seeking within the firm. We develop a theoretical model that distinguishes between effort and rent-seeking responses to income taxes, and provides a framework to estimate a lower bound for the rent-seeking response. Using executive compensation and governance data, we find that rent seeking represents an important component of the response to changes in tax rates, especially among executives in firms with the worst corporate governance. (JEL D31, G30, H21)

引用

页码：219 / 235

页数：17

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