JOURNAL ARTICLE
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Investitionsneutrale Steuersysteme unter Unsicherheit - Eine realoptionstheoretische Analyse
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 119 (1999), Iss. 3 : pp. 351–372
1 Citations (CrossRef)
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Niemann, Rainer
Cited By
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Investment timing effects of wealth taxes under uncertainty and irreversibility
Niemann, Rainer
Sureth-Sloane, Caren
Journal of Business Economics, Vol. 89 (2019), Iss. 4 P.385
https://doi.org/10.1007/s11573-018-0918-4 [Citations: 1]
Abstract
This paper analyses investment decisions under uncertainty and risk neutrality before and after taxes. Using real option theory it is possible to quantify the effects of uncertainty and irreversibility of decisions. Under the assumption of a perpetual option, analytical solutions for this investment problem can be found before and after taxes. These solutions provide the means to recognize tax effects and thus the derivation of neutral tax systems of which the cash flow tax and the Johansson-Samuelson-tax emerge as special cases.