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KENNETH J. KLASSEN JEFFREY A. PITTMAN MARGARET P. REED STEVE FORTIN 《Contemporary Accounting Research》2004,21(3):639-680
We provide evidence on the impact of tax incentives and financial constraints on corporate R&D expenditure decisions. We contribute to extant research by comparing R&D expenditures in the United States and Canada, thereby exploiting the differences in the two countries' R&D tax credit mechanisms and generally accepted accounting principles. The two tax incentive mechanism designs are consistent with differing views of the degree of financial constraints faced by firms in these economies. Our sample also allows us to explore the effects of capitalizing R&D on Canadian firms. Employing a matched design, we document relations between tax credit incentives and R&D spending consistent with both Canadian and U.S. public companies responding as though they are not financially constrained. We estimate that the Canadian credit system induces, on average, $1.30 of additional R&D spending per dollar of taxes forgone while the U.S. system induces, on average, $2.96 of additional spending. We also find that firms that capitalize R&D costs in Canada spend, on average, 18 percent more on R&D. Collectively, this evidence is important to the ongoing debates in both countries concerning the appropriate design of incentives for R&D and is consistent with the assumptions found in the U.S. tax credit system, but not those found in the Canadian system. 相似文献
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Typically, analysis of trade liberalization ignores the impactthat intermediate stages in the production and distributionsystem may have on the pass-through of changes in tariffs tofinal goods' prices. Using a model of a multi-stage system,this paper shows that both the number of vertical stages andthe degree of imperfect competition at any specific stage canaffect the degree of tariff pass-through. Simulation of themodel with respect to recent changes in the European Union bananaregime suggests that ignoring vertical market structure is likelyto over-estimate the benefits to consumers of trade liberalization. 相似文献
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A panel data method is used to evaluate the impact of China's accession to the WTO. Time‐series data for China, Australia, Austria, Canada, Denmark, Finland, France, Germany, the UK, Hong Kong, Singapore, Korea, Japan, the Philippines, Indonesia, Malaysia, Thailand, the USA and Taiwan are used to construct the growth path that what would have been followed had there been no entry by China to the WTO. We find that from 2002 to 2007, accession to the WTO raised China's real economic growth rate by 2.4%, its export growth rate by 13.2% and its import growth rate by 18.89% a year. 相似文献
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A study of 198 household units in the Fort Collins, CO area was made to ascertain the importance of such factors as consumer age, income, education and marital status on the purchasing patterns for ground beef. Compared to younger consumers, older consumers tended to: (1) make more frequent purchases of ground beef; (2) buy less ground beef per purchase; and (3) select leaner ground beef. Households with gross incomes in excess of $25,000 tended to buy larger quantities of ground beef per purchase and bought leaner ground beef compared to households with less than $15,000 gross income. In making purchasing decisions, participants in the study considered leanness, visual appearance and price as the most important factors, while packaging and brand name were considered the least important factors. 相似文献
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