impact on the optimal real investment alternative compared to the optimal financial investment alternative indicates the … investment incentives of tax law asymmetries. Integrating an initial loss carryforward at the time of investment creates a …This paper analyzes the impact of particular loss offset limitations on intrastate and crossborder investment decisions …

are offset by tax benefits arising from debt financing. Allowing partial deduction of capital cost is thus a necessary … condition for investment neutrality to hold. …