theory of optimal capital structure it tests (i) whether corporate taxes induce subsidiary banks to raise their debt …-asset ratio in light of the traditional debt bias; and (ii) whether international corporate tax differentials vis-a-vis foreign … subsidiary banks affect the intra-bank capital structure through international debt shifting. Using a novel subsidiary …

This paper explores whether corporate tax bias toward debt finance differs between banks and nonbanks, using a large …

the presence of financial frictions, corporate debt declines under the tax reform as firms are no longer able to deduct …