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Entrepreneurial Innovations and Taxation

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  • Haufler, Andreas

    (University of Munich)

  • Norbäck, Pehr-Johan

    (Research Institute of Industrial Economics (IFN))

  • Persson, Lars

    (Research Institute of Industrial Economics (IFN))

Abstract

Many governments promote small businesses for the dual reasons of fostering ‘breakthrough’ innovations and employment growth. In this paper we study the effects of tax and subsidy policies on entrepreneurs’ choice of riskiness of an innovation project and on their mode of commercializing the innovation (market entry versus sale). Limited loss offset provisions in the tax system induce entrepreneurs to choose projects with too little risk and this problem arises primarily when entrepreneurs market their product themselves. When innovations reduce only the fixed costs of production this leads to a fundamental policy trade-off between the declared goals of promoting employment and innovation in small, entrepreneurial firms. When innovations reduce variable production costs, policies to promote small businesses may even be unambiguously harmful.

Suggested Citation

  • Haufler, Andreas & Norbäck, Pehr-Johan & Persson, Lars, 2012. "Entrepreneurial Innovations and Taxation," Working Paper Series 896, Research Institute of Industrial Economics.
  • Handle: RePEc:hhs:iuiwop:0896
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    Cited by:

    1. Monika Walicka, 2014. "INNOVATION TYPES AT SMEs AND EXTERNAL INFLUENCING FACTORS," "e-Finanse", University of Information Technology and Management, Institute of Financial Research and Analysis, vol. 10(3), pages 73-81, December.
    2. Ana Venâncio & Victor Barros & Clara Raposo, 2022. "Corporate taxes and high-quality entrepreneurship," Small Business Economics, Springer, vol. 58(1), pages 353-382, January.
    3. Trey Malone & Antonios M. Koumpias & Per L. Bylund, 2019. "Entrepreneurial response to interstate regulatory competition: evidence from a behavioral discrete choice experiment," Journal of Regulatory Economics, Springer, vol. 55(2), pages 172-192, April.
    4. Haufler, Andreas & Mardan, Mohammed, 2014. "Cross-border loss offset can fuel tax competition," Journal of Economic Behavior & Organization, Elsevier, vol. 106(C), pages 42-61.
    5. Norman Gemmell & Richard Kneller & Danny McGowan & Ismael Sanz & José F. Sanz‐Sanz, 2018. "Corporate Taxation and Productivity Catch‐Up: Evidence from European Firms," Scandinavian Journal of Economics, Wiley Blackwell, vol. 120(2), pages 372-399, April.
    6. Pascal Gantenbein & Axel Kind & Christophe Volonté, 2019. "Individualism and Venture Capital: A Cross-Country Study," Management International Review, Springer, vol. 59(5), pages 741-777, October.
    7. Mardan, Mohammed & Stimmelmayr, Michael, 2018. "Tax revenue losses through cross-border loss offset: An insurmountable hurdle for formula apportionment?," European Economic Review, Elsevier, vol. 102(C), pages 188-210.
    8. Henkel, Joachim & Rønde, Thomas & Wagner, Marcus, 2015. "And the winner is—Acquired. Entrepreneurship as a contest yielding radical innovations," Research Policy, Elsevier, vol. 44(2), pages 295-310.
    9. Maribel Guerrero & David Urbano, 2019. "Effectiveness of technology transfer policies and legislation in fostering entrepreneurial innovations across continents: an overview," The Journal of Technology Transfer, Springer, vol. 44(5), pages 1347-1366, October.
    10. Petutschnig, Matthias, 2017. "Future orientation and taxes: Evidence from big data," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 29(C), pages 14-31.
    11. Sharma, Rishi R. & Slemrod, Joel & Stimmelmayr, Michael, 2023. "Tax losses and ex-ante offshore transfer of intellectual property," Journal of Public Economics, Elsevier, vol. 226(C).
    12. Norbäck, Pehr-Johan & Persson, Lars & Tåg, Joacim, 2022. "Risky Business: Venture Capital, Pivoting and Scaling," Working Paper Series 1444, Research Institute of Industrial Economics, revised 15 Apr 2024.
    13. Diego d’Andria & Dimitrios Pontikakis & Agnieszka Skonieczna, 2018. "Towards a European R&D incentive? An assessment of R&D provisions under a common corporate tax base," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 27(5-6), pages 531-550, August.
    14. Rainer Niemann & Mariana Sailer, 2023. "Is analytical tax research alive and kicking? Insights from 2000 until 2022," Journal of Business Economics, Springer, vol. 93(6), pages 1149-1212, August.
    15. Hans Gersbach & Ulrich Schetter & Maik T Schneider, 2019. "Taxation, Innovation and Entrepreneurship," The Economic Journal, Royal Economic Society, vol. 129(620), pages 1731-1781.
    16. Liu, Guanchun & Liu, Yuanyuan & Zhang, Chengsi, 2022. "Tax enforcement and corporate employment: Evidence from a quasi-natural experiment in China," China Economic Review, Elsevier, vol. 73(C).
    17. Heyman, Fredrik & Norbäck, Pehr-Johan & Persson, Lars, 2015. "The Turnaround of Swedish Industry: Reforms, Firm Diversity and Job and Productivity Dynamics," Working Paper Series 1079, Research Institute of Industrial Economics.
    18. Pehr-Johan Norbäck & Lars Persson, 2024. "Why generative AI can make creative destruction more creative but less destructive," Small Business Economics, Springer, vol. 63(1), pages 349-377, June.
    19. Li, Shengquan & Bai, Tao, 2024. "The impact of tax reform on corporate green transformation — Evidence based on the value-added tax retained rebate," Finance Research Letters, Elsevier, vol. 60(C).
    20. Facundo Albornoz & Antonio Cabrales & Esther Hauk, 2019. "Occupational Choice with Endogenous Spillovers," The Economic Journal, Royal Economic Society, vol. 129(621), pages 1953-1970.
    21. Danzer, Alexander M. & Feuerbaum, Carsten & Gaessler, Fabian, 2024. "Labor supply and automation innovation: Evidence from an allocation policy," Journal of Public Economics, Elsevier, vol. 235(C).
    22. Guo, Fenghua & Huo, Peiyun & Song, Hui & Zhang, Duolei & Zhou, Lei, 2024. "Does tax symmetry improve corporate innovation investment? Evidence from the change policy of loss carrying forward period in China," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 591-602.
    23. Norbäck, Pehr-Johan & Persson, Lars, 2023. "Why Big Data Can Make Creative Destruction More Creative – But Less Destructive," Working Paper Series 1454, Research Institute of Industrial Economics.
    24. Dinkel, Andreas, 2015. "Tax attractiveness and the allocation of risk within multinationals," arqus Discussion Papers in Quantitative Tax Research 189, arqus - Arbeitskreis Quantitative Steuerlehre.
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    More about this item

    Keywords

    Entrepreneurship; Innovation; Corporate taxes; Firm growth;
    All these keywords.

    JEL classification:

    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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