Narrow search
Showing 1 - 10 of 12,938
Cover Image
Taxation and systematic risk under decreasing returns to scale
Lund, Diderik - Økonomisk Institut, Copenhagen Business School - 2006
Lund (2002a) showed in a CAPM-type model how tax depreciation schedules affect required expected returns after taxes …
Persistent link: https://www.econbiz.de/10005419412
Cover Image
An analytical model of required returns to equity under taxation with imperfect loss offset
Lund, Diderik - Økonomisk institutt, Universitetet i Oslo - 2005
Lund (2002a) showed in a CAPM-type model how tax depreciation schedules affect required expected returns after taxes …
Persistent link: https://www.econbiz.de/10005424058
Cover Image
How Taxes on Firms Reduce the Risk of After-Tax Cash Flows
Lund, Diderik - In: FinanzArchiv: Public Finance Analysis 70 (2014) 4, pp. 567-598
are depreciation deductions. Among the few studies of these effects, even fewer identify all effects correctly. When …
Persistent link: https://www.econbiz.de/10011095361
Cover Image
Marginal versus Average Beta of Equity under Corporate Taxation
Lund, Diderik - Økonomisk institutt, Universitetet i Oslo - 2009
together with inframarginal, marginal beta differs from average if there are investmentrelated deductions like depreciation. To …
Persistent link: https://www.econbiz.de/10004967605
Cover Image
Valuation, leverage and the cost of capital in the case of depreciable assets
Lund, Diderik - Økonomisk Institut, Copenhagen Business School - 2006
found that depreciation increases the cost of capital before and after tax. Most of their assumptions are maintained …. However, commitment to perpetual reinvestment is in most cases not a reasonable assumption. Without it, depreciation decreases … the cost of capital before and after tax. The effect of depreciation is less in absolute value than in Levy and Arditti …
Persistent link: https://www.econbiz.de/10005771082
Cover Image
Effects of Tax Rate Changes on the Cost of Capital: The Case of Japanese Firms
Kubota, Keiichi; Takehara, Hitoshi - In: FinanzArchiv: Public Finance Analysis 63 (2007) 2, pp. 163-185
The paper studies the effects that tax rate changes have on the cost of capital when firms follow target leverage ratios. We show that changes in individual income tax rates are neutral. The focus therefore is on the effects of changes in marginal corporate tax rates. These effects are computed...
Persistent link: https://www.econbiz.de/10005764470
Cover Image
Dividend Policy Inside the Multinational Firm
Desai, Mihir A. - 2009
This paper analyzes dividend remittances by a large panel of foreign affiliates of U.S. multinational firms. The dividend policies of foreign affiliates, which convey no signals to public capital markets, nevertheless resemble those used by publicly held companies in paying dividends to diffuse...
Persistent link: https://www.econbiz.de/10012722077
Cover Image
The Effects of Periodic Taxation on International Investment and Repatriation Decisions
Niemann, Rainer - 2008
This paper analyses the effects of the periodic taxation principle on the repatriation policy of a multinational firm. A domestic investor decides on real versus financial investment both of which can be realised either in a foreign branch or a foreign subsidiary. Loss-offset restrictions and...
Persistent link: https://www.econbiz.de/10012727061
Cover Image
Group Taxation, Asymmetric Taxation, and Cross-Border Investment Incentives in Austria
Niemann, Rainer - 2008
In 2005, Austria changed its group taxation and now provides an option for cross-border loss-offset. We analyze the combined impact of Austria's new group taxation and loss-offset limitations on cross-border investment decisions of Austrian corporations. Monte Carlo-simulations in an...
Persistent link: https://www.econbiz.de/10012727062
Cover Image
An Analytical Model of Required Returns to Equity Under Taxation with Imperfect Loss Offset
Lund, Diderik - 2004
Lund (2002a) showed in a CAPM-type model how tax depreciation schedules affect required expected returns after taxes …
Persistent link: https://www.econbiz.de/10012738581