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Publicação
Collateral value and entrepreneurship: Evidence from a property tax reform
Orientador(es)
Resumo(s)
We study the role of property taxes on entrepreneurial activity using a quasi-natural experiment,
which unexpectedly reduced the upper bound of the Portuguese property tax rate
for urban properties in 2008. Using a diffrence-in-differences approach, we nd that treated
municipalities (i.e., municipalities that had a property tax rate above the new upper bound)
experienced higher entry rates in the manufacturing sector vis-a-vis control municipalities (i.e.,
municipalities that had a property tax rate at or below the new upper bound). Taking advantage
of rm-level data, we show that start-ups created as a response to the decrease in property
taxes in treated municipalities use more debt, invest more, and are more likely to survive.
Descrição
Palavras-chave
Entrepreneurship Property taxes Savings Portugal
Contexto Educativo
Citação
Ferreira, Miguel, Pereira dos Santos, João, Venâncio, João. Collateral value and entrepreneurship: Evidence from a property tax reform. (December 2019) Nova SBE Working Paper Series No. 643
Editora
Nova School of Business and Economics