Narrow search
Showing 1 - 10 of 602
Cover Image
Dividend taxation and the cost of new share issues
Lindhe, Tobias; Södersten, Jan - 2014
This paper examines how the effects of dividend taxation on the cost of new equity funds depend on whether or not … shareholders can recover their original equity injections without being subject to the dividend tax. We point out the alternative … that the shareholders cannot recover their original equity injections without being subject to the dividend tax …
Persistent link: https://www.econbiz.de/10010412740
Cover Image
Neutral taxation of shareholder income : a Norwegian tax reform proposal
Sørensen, Peter Birch - 2003
A Norwegian tax reform committee recently proposed a personal tax on the realized income from shares after deduction for an imputed risk-free rate of return. This paper describes the design of the proposed shareholder income tax and shows that it will be approximately neutral in several...
Persistent link: https://www.econbiz.de/10011509464
Cover Image
What kind of Corporation Tax Regime?
Cnossen, Sijbren - 2014 - This version: 18 November 2014
This paper explores the taxation of corporations in the wider context of capital income taxation. The pros and cons of various income-based and cash-flow forms of corporation tax (CT) are discussed. The paper concludes that the dual income tax (DIT), which taxes all capital income at the...
Persistent link: https://www.econbiz.de/10010459664
Cover Image
Neutral taxation of shareholder income? : corporate responses to an announced dividend tax
Alstadsæter, Annette; Fjaerli, Erik - 2009
tax rates on individual dividend income from zero to 28 percent. We document strong timing effects on dividend payout on a … corporations' debt-equity ratios. The debt ratios drop sharply after the implementation of the reform. -- Neutral dividend tax …
Persistent link: https://www.econbiz.de/10003806745
Cover Image
Dividend taxation and firm performance with heterogeneous payout responses
Bilicka, Katarzyna; Güçeri, Irem; Koumanakos, Evangelos P. - 2022
We analyze the short and long-run performance of firms that were differentially affected by a new tax on dividends in the lead-up to the Global Financial Crisis. We use exogenous policy variation for firms with different legal statuses and financial year-end dates to causally identify the...
Persistent link: https://www.econbiz.de/10013475268
Cover Image
Dividend taxation, share repurchases and the equity trap
Lindhe, Tobias; Södersten, Jan - 2009
This paper reconsiders the effects of dividend taxation. Particular attention is paid to the form of the equity trap …. -- dividend taxation ; share repurchases ; equity trap ; cost of capital ; nucleus theory ; growth path …
Persistent link: https://www.econbiz.de/10003850505
Cover Image
How do entrepreneurial portfolios respond to taxation?
Fossen, Frank M.; Rees, Ray; Rostam-Afschar, Davud; … - 2017
We investigate how personal income taxes affect the portfolio share of personal wealth that entrepreneurs invest in their own business. In a reformulation of the standard portfolio choice model that allows for underreporting of private business income to tax authorities, we show that a fall in...
Persistent link: https://www.econbiz.de/10011672485
Cover Image
The equity trap, the cost of capital and the firm's growth path
Lindhe, Tobias (contributor); Södersten, Jan (contributor) - 2006
Persistent link: https://www.econbiz.de/10003377163
Cover Image
The efficiency costs of dividend taxation with managerial firms : presented at CESifo Area Conference on Public Sector Economics, April 2015
Köthenbürger, Marko; Stimmelmayr, Michael - 2015
The paper analyzes the efficiency costs of dividend taxation in an effort-based corporate agency model in which non …-verifiable managerial effort enhances taxable profits. We show that investment changes following a rise in dividend taxes might not be … sufficient to infer the efficiency cost of dividend taxation as well as the financing regime of the firm that underlies the …
Persistent link: https://www.econbiz.de/10011374208
Cover Image
Dividend taxes and decisions of MNEs : evidence from a Finnish tax reform
Harju, Jarkko; Kari, Seppo - 2015
In this study we explore how a firm-level dividend tax on redistributed foreign profits affects the financial decisions … find a 23 percent increase in dividend payments and a similar increase in repatriated foreign profits after the repeal of …
Persistent link: https://www.econbiz.de/10011387342