This paper investigates whether there are systematic differences in the capital structure formation of local companies … and subsidiaries of multinational companies (MNCs) operating in the Baltic States over the period from 2000 to 2008. The … profit retention of the latter. However, MNCs appear to have had better access to external finance, resulting in their …

this tax system, compared to traditional gross profit taxation, is presented in this paper. The paper seeks to model a … company operating under uncertainty in a binomial framework, including company and investor level taxes and investorís … instead of paying them out, the theoretical analysis in this paper shows that from the investorís perspective retaining of all …

available from the Estonian Commercial Registry in respect of a sample of 51 thousand Estonian companies over a ten-year period … Union countries is used. The results give support to the hypothesis that the share of external financing in total capital of … Estonian companies is lower in the conditions of DPT in comparison to that under the traditional gross profit taxation system …

, increased productivity, competitiveness and socio-economic sustainability. These challenges are particularly important for … R&D services have through added economic value to the GDP in Estonia. Based on the most recent supply and use matrices … identify the direct contribution of R&D services to added economic value in the Estonian economy to be 0.5% and their primary …