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Bank-based or market-based financial sources : which is better for the EU?

Esposito, Piero; Larocca, Vittorio; Messori, Marcello; … - 2021

Persistent link: https://www.econbiz.de/10013169329

Corporate debt and investment in the post-Covid world

Heresi, Rodrigo; Powell, Andrew - 2022

We study the relationship between corporate debt, corporate risk and firm-level investment, using a sample of 25 …,000 listed companies across 47 countries over the last two decades. We find higher leverage reduces investment but show the … leverage observed during the last decade and as a result of the Covid-19 pandemic, physical investment is expected to remain at …

Persistent link: https://www.econbiz.de/10014495148

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/10011451578

Debt and transfer pricing: implications on business tax policy

Comincioli, Nicola; Panteghini, Paolo; Vergalli, Sergio - 2020

In this article we introduce model to describe the behavior of a multinational company (MNC) that operates transfer pricing and debt shifting, with the purpose of incrementing its value, intended as the sum of equity and debt. We compute, in a stochastic environment and under default risk, the...

Persistent link: https://www.econbiz.de/10012306718

Business tax policy under default risk

Comincioli, Nicola; Vergalli, Sergio; Panteghini, Paolo - 2019

In this article we use a stochastic model with one representative firm to study business tax policy under default risk. We will show that, for a given tax rate, the government has an incentive to reduce (increase) financial instability and default costs if its objective function is welfare (tax...

Persistent link: https://www.econbiz.de/10012006573