Corporate taxes and high-quality entrepreneurship
利用葡萄牙内陆城市初创企业税率大幅降低的准自然实验，发现减税增加了企业进入和就业创造，且吸引的是年龄较大、教育程度更高的创业者，其企业规模更大、生产率更高、存活率更强。
Abstract We examine the impact of corporate taxation on entrepreneurship, using a quasi-natural experiment, which substantially reduced the corporate tax rate for start-ups located in inland municipalities in Portugal. Using a difference-in-differences approach and IV regression, we find that the tax reform increased firm entry and new firm job creation. The entrepreneurs who took advantage of this tax reform are relatively older, and are better-educated individuals. Their start-ups are relatively larger, more productive, and are more likely to survive the first 3 years. These findings suggest that corporate taxation is an imperative constraint for entrepreneurship, particularly for high-quality entrepreneurs. These better-educated individuals find it easier to overcome the hurdles of tax legislation and to make use of the opportunities created by a specific tax reform.