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Crédito Fiscal, Costes Financieros E Inversión Empresarial: Evidencia Para España Con Un Panel De Microdatos Tributarios

Author

Listed:
  • Desiderio Romero Jordán

    (Universidad Complutense de Madrid)

  • Jesús Ruiz-Huerta Carbonell

    (Instituto de Estudios Fiscales - Universidad Rey Juan Carlos)

Abstract

The aim of this work is to analyse the effectiveness of investment tax credit in the Spanish Corporate Tax. For this purpose, we estimate a dynamic investment model based on investment Euler equation where investment and financing decisions are simultaneous. We have found that tax credit is not very effective when dealing with small firms. Classification-JEL : G31, G32, H25, H32, L60

Suggested Citation

  • Desiderio Romero Jordán & Jesús Ruiz-Huerta Carbonell, 2001. "Crédito Fiscal, Costes Financieros E Inversión Empresarial: Evidencia Para España Con Un Panel De Microdatos Tributarios," Hacienda Pública Española / Review of Public Economics, IEF, vol. 158(3), September.
    • Handle: RePEc:hpe:journl:y:2001:v:158:i:3:a:27
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    More about this item

    Keywords

    investment; corporate tax; tax credit; cash-flow.;
    All these keywords.

    JEL classification:

    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General

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