Taxing transitions: Inheritance tax and family firm succession

IF 2.3 3区经济学 Q2 ECONOMICS

Journal of Economic Behavior & Organization Pub Date : 2025-09-18 DOI:10.1016/j.jebo.2025.107238

Philipp Krug , Dominika Langenmayr

引用次数: 0

Abstract

In many OECD countries, family firms face lower or no succession taxes if they fulfill continuation requirements. We study the effects of such preferential treatment in a two-generation model. Preferential treatment of continued firms leads to more entrepreneurship and higher wages, as entrepreneurs invest more as they value passing on a larger firm. However, more low-ability heirs continue the firm, leading to efficiency losses. In the presence of financial frictions, richer (but less able) heirs may invest more than buyers from outside.

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税收过渡：遗产税和家族企业继承

在许多经济合作与发展组织国家，如果家族企业满足了延续的要求，就会面临较低的继承税，或者不缴纳继承税。我们在一个两代模型中研究了这种优惠待遇的影响。对持续经营的公司的优惠待遇会导致更多的企业家精神和更高的工资，因为企业家们更重视传递一个更大的公司，他们会投资更多。然而，更多的低能力继承人继续经营公司，导致效率损失。在存在金融摩擦的情况下，较富有（但能力较差）的继承人可能会比外部买家投资更多。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Economic Behavior & Organization ECONOMICS-

CiteScore

3.80

自引率

9.10%

发文量

392

期刊介绍： The Journal of Economic Behavior and Organization is devoted to theoretical and empirical research concerning economic decision, organization and behavior and to economic change in all its aspects. Its specific purposes are to foster an improved understanding of how human cognitive, computational and informational characteristics influence the working of economic organizations and market economies and how an economy structural features lead to various types of micro and macro behavior, to changing patterns of development and to institutional evolution. Research with these purposes that explore the interrelations of economics with other disciplines such as biology, psychology, law, anthropology, sociology and mathematics is particularly welcome.