Dynamic firm and investor behaviour under progressive personal taxation (Q1210810)

According to Chapter 1, Scope and Outline of the Book, `this book aims to include the effects of a progressive personal tax into the deterministic dynamic theory of the firm'. To that end `the impact of a progressive personal tax on the optimal dividend, financing and investment policy of a shareholder controlled value maximizing firm is investigated'. The main tool to study these problems is the translation into the language of optimal control theory. While the description of both the models themselves and the results derived are contained in chapters 2 until 6 `technical derivations and proofs' are placed in the appendices. The mathematical parts of these should have better beeen written by a mathematician (for example the theorem cited on page 167 is confusing); in the present form it can only be well understood by a specialist in optimal control theory.