Séminaire Cournot – Arthur Guillouzouic (AMSE, IPP)

Détails de l'événement :

Nous avons le plaisir d’accueillir pour la prochaine séance du séminaire Cournot du BETA organisé avec le soutien de la FSEG ce vendredi 13/02 à 14h00 :

Arthur Guillouzouic (AMSE, IPP)

qui nous présentera son article intitulé

Follow the Money! Why dividends overreact to flat-tax reforms

Abstract:  We estimate behavioral responses to dividend taxation using recent French reforms: a rate hike and a cut. Exploiting household and firm tax data as well as data linking firms and shareholders, we find very large dividend tax elasticities. Individuals who control firms adjust dividend receipts instantaneously. Investment is insensitive to dividend taxation. Dividend adjustments are instead driven by corporate saving, as owner-managers treat firms as low-tax saving vehicles. Our results fit the « new view » of dividend taxation, provided an additional low-tax yet costly payout option is available that offers a tax arbitrage opportunity to entrepreneurs in control of their firms.