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Capital structure and regulation in US local telephony: an exploratory econometric study

Resende, Marcelo - 2009

as a response to previous physical capital investment with an ultimate goal of inducing higher rates. Theoretical models …) and gross investment (INV) in physical capital. The evidence accruing from a dynamic panel data estimation indicates an … with the notion that the size of the firmś investment project can impose a restriction on the amount of new debt. The …

Persistent link: https://www.econbiz.de/10003854388

Thin capitalization rules and multinational firm capital structure

Blouin, Jennifer L.; Huizinga, Harry; Laeven, Luc; … - 2014

This paper examines the impact of thin capitalization rules that limit the tax deductibility of interest on the capital structure of the foreign affiliates of US multinationals. We construct a new data set on thin capitalization rules in 54 countries for the period 1982-2004. Using confidential...

Persistent link: https://www.econbiz.de/10010256736

Optimal firm's dividend and capital structure for mean reverting profitability

Menoncin, Francesco; Panteghini, Paolo; Regis, Luca - 2021

We model a risk-averse firm owner who wants to maximize the intertemporal expected utility of firm’s dividends. The optimal dynamic control problem is characterized by two stochastic state variables: the equity value, and profitability (ROA) of the _rm. According to the empirical evidence, we...

Persistent link: https://www.econbiz.de/10012668498

The impact of thin-capitalization rules on multinationals' financing and investment decisions

Büttner, Thiess; Overesch, Michael; Schreiber, Ulrich; … - 2006

Persistent link: https://www.econbiz.de/10003379792

A growth oriented dual income tax

Keuschnigg, Christian (contributor); … - 2005

demonstrates the neutrality properties of the reform with respect to investment, firm financial decisions and organizational choice …. Tax rates are chosen to prevent income shifting from labor to capital income. The reform decisively strengthens investment …

Persistent link: https://www.econbiz.de/10003113308

A critique of the literature on the US financial debt crisis

Stein, Jerome L. - 2010

A healthy financial system encourages the efficient allocation of capital and risk. The collapse of the house price bubble led to the financial crisis that started in 2007. There is a large empirical literature concerning the relation between asset price bubbles and financial crises. I evaluate...

Persistent link: https://www.econbiz.de/10003936616

Introducing activity-based payment in the hospital industry : evidence from French data

Choné, Philippe; Evain, Franck; Wilner, Lionel; … - 2013

Many countries have reformed hospital reimbursement policies to provide stronger incentives for quality and cost reduction. The purpose of this work is to understand how the effect of such reforms depends on the intensity of local competition. We build a nonprice competition model to examine the...

Persistent link: https://www.econbiz.de/10009765047

Accelerated depreciation, default risk and investment decisions

Panteghini, Paolo; Vergalli, Sergio - 2016

risk. This result has a strong policy implication, in that it shows that an investment stimulus pack is expected neither to …

Persistent link: https://www.econbiz.de/10011416013

The commitment role of equity financing

Fahn, Matthias; Merlo, Valeria; Wamser, Georg - 2014

Existing theories of a firm’s optimal capital structure seem to fail in explaining why many healthy and profitable firms rely heavily on equity financing, even though benefits associated with debt (like tax shields) appear to be high and the bankruptcy risk low. This holds in particular for...

Persistent link: https://www.econbiz.de/10010366170

Corporate taxation and financial strategies under asymmetric information

Cohen, Francesco; Fedele, Alessandro; Panteghini, Paolo - 2014

lenders and v) the business cycle effects on the spread between the high-yield and the investment-grade interest rates on …

Persistent link: https://www.econbiz.de/10010347029

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