A Review of Taxes and Corporate Finance
This paper reviews domestic and multinational corporate tax research. For each topic, the theoretical arguments explaining how taxes can affect corporate decision-making and firm value are reviewed, followed by a summary of the related empirical evidence and a discussion of unresolved issues. Tax research generally supports the hypothesis that high-tax rate firms pursue policies that provide tax benefits. Many issues remain unresolved, however, including understanding whether tax effects are of first-order importance, why firms do not pursue tax benefits more aggressively, and whether corporate actions are affected by investor-level taxes.
Year of publication: |
2006
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Authors: | Graham, John R. |
Published in: |
Foundations and Trends(R) in Finance. - now publishers. - Vol. 1.2006, 7, p. 573-691
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Publisher: |
now publishers |
Saved in:
Online Resource
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