Managerial real investment incentives under corporate income taxation

Abstract

On the role of corporate objectives Williamson has observed: 'in all cases except where profitability is at best the minimum sum necessary to prevent take-over, the policies the firm pursues will depend on the form of its objectives' [264, p.15]. Ansoff expressed a similar opinion in stating that proposed courses of action by a corporation will be tested for the extent to which they are likely to close the gap between the corporation's current position and the set of objectives established. [7, p.26].