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Does Financial Constraint Affect Shareholder Taxes and the Cost of Equity Capital?
Chen, Chongyang - 2011
explanation for the heretofore puzzling finding that, following the unprecedented 2003 reduction in dividend tax rates, non-dividend …-paying firms outperformed dividend-paying firms. Not surprisingly, we find that non-dividend-paying firms are more financial … constrained than dividend-paying firms are. When a firm's financial constraint and dividend choice are jointly considered, we find …
Persistent link: https://www.econbiz.de/10013123306
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The information content of dividends : safer profits, not higher profits
Michaely, Roni; Rossi, Stefano; Weber, Michael - 2018
Persistent link: https://www.econbiz.de/10011796632
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Are corporate payouts abnormally high in the 2000s?
Kahle, Kathleen M.; Stulz, René M. - 2020
Persistent link: https://www.econbiz.de/10012221175
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Investitionsentscheidungen und die Begünstigung nicht entnommener Gewinne nach § 34a EStG
Rumpf, Dominik; Kiesewetter, Dirk; Dietrich, Maik - 2008
Dieser Beitrag formuliert Kalküle für Investitionsentscheidungen von Personenunternehmen unter Berücksichtigung der neu geschaffenen Option zur Begünstigung nicht entnommener Gewinne (§ 34a EStG n.F.). Im Kalkül unter Sicherheit besteht die optimale Alternativanlage immer in der abgeltend...
Persistent link: https://www.econbiz.de/10010298477
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Welche privaten Veräußerungsgewinne sollten besteuert werden?
Jacob, Martin - 2008
Der vorliegende Beitrag untersucht anhand eines Wachstumsmodells die Entscheidungswirkungen der privaten Veräußerungsgewinnbesteuerung in verschiedenen Steuersystemen.Im Fall des Anteilshandels zwischen privaten Investoren induziert die Veräußerungsgewinnbesteuerung neben der...
Persistent link: https://www.econbiz.de/10010300100
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The rich demystified: A reply to Bach, Corneo, and Steiner (2008)
Jacob, Martin; Niemann, Rainer; Weiss, Martin - 2008
The contribution Bach, Corneo and Steiner (2008) has argued that "the rich" do not pay taxes adequately in relation to their income, finding, for instance, an effective tax rate of only 38.1% for the 0.001% fractile of German income taxpayers in 2001. This result contrasts sharply with the...
Persistent link: https://www.econbiz.de/10010300107
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The influence of tax regimes on distribution police of corporations: Evidence from German tax reforms
Schanz, Deborah; Theßeling, Holger - 2011
For more than 50 years, researchers around the world have been searching for a solution to Blacks famous 'dividend … 'traditional view' of dividend taxation, German decision-makers cut back their dividend payments in response to the reduced …
Persistent link: https://www.econbiz.de/10010304493
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Payout policies of privately held firms: Flexibility and the role of income taxes
Jacob, Martin; Alstadsæter, Annette - 2013
payout channel and are rather sticky. Choice of payout channel and level of payout are affected by dividend and wage taxation …
Persistent link: https://www.econbiz.de/10010327262
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Do corporate tax cuts increase investments?
Brandstetter, Laura; Jacob, Martin - 2013
This paper studies the effect of corporate taxes on investment. Using firm-level data on German corporations, we investigate the 2008 tax reform that cut corporate taxes by 10 percentage points. We expect heterogeneous investment responses across firms, since firms with a foreign parent have...
Persistent link: https://www.econbiz.de/10010327623
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Steuerwirkungen betrieblicher Entgeltpolitik
Voßmerbäumer, Jan; Wagner, Franz W. - 2014
Obwohl das Einkommensteueraufkommen in Deutschland überwiegend durch die Besteuerung von Arbeitseinkommen generiert wird, werden steuerliche Entscheidungswirkungen, die von einer Besteuerung des Faktors Arbeit ausgelöst werden, in der deutschsprachigen ökonomischen Steuerliteratur weitgehend...
Persistent link: https://www.econbiz.de/10010352043