Patents, Tax Shelters, and the Firm

Frattarelli Hart 1 Tax Shelters or Efficient Tax Planning ? A Theory of The Firm Perspective On the Economic Substance Doctrine

Perspective On the Economic Substance Doctrine T. Christopher Borek, Angelo Frattarelli, and Oliver Hart April, 2013 Abstract Courts have articulated a number of legal tests to distinguish corporate transactions that have a legitimate business or economic purpose from those carried out largely, if not solely, for favorable tax treatment. We outline an approach to analyzing the economic subs...

Limited Incontestability for Small-firm Patents

It is well known that European smalland medium-sized enterprises (‘‘SMEs’’) are far less innovative than their counterparts in the United States. In that country, firms with no more than 500 employees (most with less than 50) receive less than 4 per cent of federal support for research, yet they have been found to produce more than half of the innovations and get close to two-fifths of all pate...

Innovation and Firm Value: An Investigation of the Changing Role of Patents and Firm Publications

How to measure R&D capabilities is a key concern for policymakers and practitioners alike. This paper examines the changing role of patents and firm publications as a signal of scientific and technical competence. We argue that recent patent reforms might have reduced the informational value of USPTO patents relative to EPO patents. Moreover, the global trend toward stronger patent enforcement ...

The Impact of Corporate income Tax and Firm Size on Fixed Investment

This paper is an attempt to analyze the impact of income taxes and market capitalization on fixed investment (investment in tangible assets) by manufacturing companies listed on KSE. This paper basically examines that how corporate income taxes affect fixed investment by reducing cash flow available for a firm to invest and how the firm size in the lights of market capitalization affects fixed ...

Tax Avoidance , Corporate Transparency , and Firm Value