02006cas a2200253 a 4500 AALejournalIMF018290 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484344156 1018-5941 BD-DhAAL BD-DhAAL Cevik, Serhan. Does Taxation Stifle Corporate Investment? : Firm-Level Evidence from ASEAN Countries / Serhan Cevik, Fedor Miryugin. Washington, D.C. : International Monetary Fund, 2018. 1 online resource (27 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper conducts a firm-level analysis of the effect of taxation on corporate investment patterns in member states of the Association of Southeast Asian Nations (ASEAN). Using large-scale panel data on nonfinancial firms over the period 1990-2014, and controlling for macro-structural differences among countries, we find a significant degree of persistence in firms' net fixed investments over time, which vary with firm characteristics, such as size, sales, profitability, leverage, and age. Our analysis brings up interesting empirical results, including nonlinear patterns of behavior in firms' capital investment decisions acrosss ASEAN countries. Concerning the main variable of interest, we find that a moderate level of taxation does not hinder business investment, but this effect turns negative as higher tax burden raises the user cost of capital and distorts resource allocations. Mode of access: Internet Miryugin, Fedor. IMF Working Papers; Working Paper ; No. 2018/034 Full text available on IMF http://elibrary.imf.org/view/journals/001/2018/034/001.2018.issue-034-en.xml IMF e-Library