Corporate Finance and Income Distribution in aGrowing Economy
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Corporate Finance and Income Distribution in aGrowing Economy
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 95 (1975), Iss. 3 : pp. 223–238
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Blattner, Niklaus
References
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Abstract
Within a framework formulated by Kaldor the effects of corporate finance on income distribution are investigated. The discussion shows the importance of the assumptions on the working of the capital market. The determination of the ratio of the share value to the value of real capital of the corporate sector is crucial. Considerably different interpretations of the model follow from treating this ratio either as an endogenous variable or as a parameter. The results also highlight the importance of the alleged separation of ownership from control. If this separation affects corporate finance it also influences income distribution