Parental net wealth and personal consumption

Hrung, Warren B.

doi:10.1016/j.jebo.2002.12.002

Cited by 8 publications

(6 citation statements)

References 21 publications

(17 reference statements)

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“…17 These specifications, and indeed the available data, do not distinguish between wealth effects (Poterba 2001, Hrung 2004, Villanueva 2005 and ownership effects (more valuable firms have more owners and therefore more potential donors).…”

Section: Resultsmentioning

confidence: 99%

Inter vivos transfers of ownership in family firms

Hines

Potrafke

Riem

et al. 2018

Int Tax Public Finance

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may Inter Vivos Transfers of Ownership in Family FirmsAbstract This paper examines the determinants of inter vivos (lifetime) transfers of ownership in German family firms between 2000 and 2013. Survey evidence indicates that owners of larger firms, and firms with strong current business conditions, transfer ownership at higher rates than others. When a firm's self-described business condition improves from "normal" to "good" the likelihood of an inter vivos transfer increases by 46 percent. Inter vivos transfer rates also rose following a 2009 reform that reduced transfer taxes. These patterns suggest that transfer taxes significantly influence rates and timing of in-ter vivos ownership transfers.JEL-Codes: H240, D310, D220.

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Section: Resultsmentioning

confidence: 99%

Inter vivos transfers of ownership in family firms

Hines

Potrafke

Riem

et al. 2018

Int Tax Public Finance

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“…When wealth is held in illiquid forms, such as private business, households are less likely to make inter vivos transfers than when wealth was held in more liquid forms (Poterba 2001). The amount of inter vivos transfers also increases with the lifetime income of parents (Poterba 2001, Hrung 2004): an additional dollar of parental lifetime income appears to increase inter vivos transfers by 0.7 cents in Germany and by 1.2 cents in the United States (Villanueva 2005). Another issue is the allocation of inter vivos gifts among heirs.…”

Section: Inter Vivos Transfers and Family Firmsmentioning

confidence: 99%

“…While firms are typically the focus of the theory and empirical interest, the units of observation in most data sets are households rather than firms. Empirical studies indicate that transfer taxes influence behavior, 6 and that the amount of inter vivos transfers depends on the incomes of parents and children (Bernheim et al 2004, Joulfaian 2004, Hrung 2004, Villanueva 2005, McGarry 1999, Arrondel and Laferrère 2001, Stark and Zhang 2002. Taxpayers forego substantial savings by not making inter vivos transfers that fully exploit annual gift tax exemptions (Poterba 2001, McGarry 2001, 2013, Joulfaian and McGarry 2004.…”

Section: Introductionmentioning

confidence: 99%

Inter Vivos Transfers of Ownership in Family Firms

et al. 2016

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“…What would they have left?" (this variable has already been used as a measure of bequests in the related literature; see, for example, Hrung (2004), and also Villanueva (2005) for a detailed discussion on why "hypothetical bequests" variables are appropriate for this kind of analysis). Note that, among the three b variables we use, only two (gifts and time) can be considered inter-vivos transfers.…”

Section: Datamentioning

confidence: 99%

Analyzing motives for money-transfers within families: the role of transfers for education

Mora

Moro‐Egido

2011

Empir Econ

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We present a theoretical framework to examine whether altruism or exchange is the motive for money-transfers within families. In our theoretical models, transfers for education are incorporated as an additional family transfer that is determined before money-transfers are decided. These models lead to testable implications about the relationship between transfers for education and money-transfers. Various econometric models are derived and estimated with PSID data on inter-vivos transfers and bequests. The empirical evidence is compatible with both altruism or exchange, but provides information about how these motivations work. The comparison between the empirical distribution of money-transfers and the distributions induced by our econometric models shows that these models are suitable.

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Parental net wealth and personal consumption

Cited by 8 publications

References 21 publications

Inter vivos transfers of ownership in family firms

Inter vivos transfers of ownership in family firms

Inter Vivos Transfers of Ownership in Family Firms

Analyzing motives for money-transfers within families: the role of transfers for education

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