Hazak, Aaro - In: Emerging Markets Finance and Trade 45 (2009) 4, pp. 4-12
This paper empirically analyzes companies' capital structure and dividend decisions under distributed profit taxation (DPT), Estonia's corporate taxation regime since 2000. The sample covers 26,000 observations of Estonian companies from 1995 to 2004. The results show that the DPT system has led...