Forbes highlights research on corporate taxation
In an article by Nathan Goldman entitled "R&D Expense Tax Relief Is Here-Why Many Companies Still Can't Use It", the business magazine Forbes reported on tax regulations for research and development expenditure. Among other things, the article refers to a study published in the renowned journal Management Science.
The study entitled "Investor Perceptions of the Corporate Alternative Minimum Tax" was written by Prof. Dr. Max Pflitsch (International Business Taxation) together with Fabio B. Gaertner, Jeffrey L. Hoopes and Stacie O. Kelley. It examines how investors react to the introduction of a new minimum tax for large US companies. The results show that affected companies recorded significantly lower stock returns during the legislative process - an indication that market participants see the new tax as reducing value.
The Forbes article places these findings in the context of current discussions about tax relief for research and development expenditure.