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Konrad, Kai A. (1991): The decision to go public, accrued capital gains and taxation. In: Economics Letters, Vol. 37, Nr. 4: S. 439-445
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Abstract

The decision to go public is considered in a competitive capital market equilibrium with self-selection. Linear progressive taxes on capital gains accruing from public offerings can increase the incentives to go public. In this case the tax improves the risk allocation. © 1991.