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Book Review, Gianna Julian-Arnold
Book Review, Gianna Julian-Arnold
RISK: Health, Safety & Environment (1990-2002)
Review of: ANN RAPPAPORT & MARGARET FRESHER FLAHERTY, CORPORATE RESPONSES TO ENVIRONMENTAL CHALLENGES: INITIATIVES BY MULTINATIONAL MANAGEMENT. (Quorum Books 1992) [186 pp.] Acknowledgements, bibliography, figures, foreword, index, notes, tables. LC: 91-44706; ISBN: 0-89930-715-9 [Cloth $45.00.]
Taxing Prometheus: How The Corporate Interest Deduction Discourages Innovation And Risk-Taking, Michael S. Knoll
Taxing Prometheus: How The Corporate Interest Deduction Discourages Innovation And Risk-Taking, Michael S. Knoll
All Faculty Scholarship
This paper uses recent developments in the theory of optimal capital structure to demonstrate how the federal corporate income tax with an interest deduction, but without a corresponding dividend deduction, misallocates capital within the corporate sector by encouraging investment in low-risk, low-growth projects employing tangible assets over high-risk, high-growth projects employing intangible assets.