Impuestos corporativos y capital: veintiséis años de evidencia en empresas

Rodrigo Cerda (1) , José Llodrá (2)
(1) , Chile
(2) , Chile

Abstract

We analyze the effect of corporate tax on the capital stock desired by Chilean firms. Following the theory, we present a model and then we provide empirical evidence from stocks of companies traded on the stock exchange from 1983 to 2008. Our results indicate that a one-percentage-point increase in corporate tax reduces the capital-output ratio by 0.2 to 0.6 percentage points. Furthermore, between 28% and 54% of the adjustment occurs during the year in which the tax change is implemented.


 

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Authors

Rodrigo Cerda
José Llodrá
Cerda , R. ., & Llodrá, . J. . (2017). Impuestos corporativos y capital: veintiséis años de evidencia en empresas. ECONOMÍA CHILENA, 20(1), 050–071. https://doi.org/10.36923/economa.v20i1.202

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