Nonrenewable Exhaustible Resources and Property Taxation

A bstract .   In this paper, Professor Harriss connects the historic debate about using up nonrenewable resources and its impacts on future generations with the need to help finance government in less disruptive ways. He explains the Georgist program of taxing "economic rents" either directly by a rent tax or indirectly by a severance tax.     

Signaling and initial public offerings: The use and impact of the lockup period

To reduce information asymmetries for potential investors considering investment in an IPO venture, owners can signal the firm's longer-term viability and quality in several ways. The lockup period, is one signal that can be offered. We investigated the lockup period of a sample of 640 ventures going through the IPO and find that a longer lockup period acts as a substitute signal to venture capital (VC) and prestigious underwriter backing. Furthermore, we find that ventures which have a going concern issue can reduce the amount of underpricing at the time of the IPO by accepting a longer lockup period.     

Buyers differ in evaluating suppliers

This article discusses the industrial buyer's vendor evaluation in light of past vendor performance. A conjoint analysis approach was used to determine the relative importance of factors and the levels of performance. This evaluation indicated that industrial buyers can be classified into classical decision model categories.     

Important Issues and Serious Problems in Flat-rate Income Taxation

Abstract . Dozens of important issues are connected with the proposal of flat-rate income taxation How much, if any, activity would leave the underground economy for the reported one? Would effort and saving change? Would efficiency in the allocation of business and personal resources he effected? High rates of taxation and differences in tax rates influence behavior for better or worse. Serious proposals to change them deserve serious consideration, but difficult though not insuperable problems are involved and must be studied.     

Tax Policy for Economic Progress

A bstract . Developing countries , in constructing modern tax systems , would do well to adopt policies based on proven economic principles so that fiscal instruments do not perpetuate stagnant economies and underemployment of labor and resources. To achieve growth and jobs and ever higher levels of living , they should avoid the mistakes of the United States and many other industrially developed countries in burdening business —enterprises production —with heavy and obstrusive taxes. They, and developed countries as well which are committed to progressive change based on tax reform, like the United States, should use land values where possible to finance local governments so as to avoid taxing the other factors of production. And where necessary taxes should be levied on consumption , for taxes on business income misallocate resources and hamper market discipline in promoting output and efficiency.