fbpx Tax shelters and the theory of the firm | Harvard Kennedy School

Additional Authors:

  • Oliver Hart

Excerpt

Tax shelters and the theory of the firm. Oliver Hart, July 2, 2013, Paper. "Evaluations of economic substance often depend on an assessment of whether a particular party’s income claims look more like equity or debt, or on a present value calculation of the efficiency benefits of the transaction. The column argues that the property-theory of the firm provides an alternative and simpler approach. According to this theory, the fundamental question is: Did control change?..."  Link verified July 2, 2013