Niño, Jorge.; Zurita, Salvador.; Castillo, Augusto. - In: El Trimestre Económico LXXXI (1) (2014) 321, pp. 109-132
In this paper we obtain expressions for both the tax benefit of debt and the return on equity, when the company and the debt grow, under the non-integrated tax system prevailing in the USA. Then we develop the equivalent expressions under a totally integrated tax system. The main contribution of...