tax benefit of debt (net and gross of investor taxes) and the debt ratio. A 10% increase in the net (gross) marginal tax … benefit of debt causes a 1.5% (1.6%) increase in the debt ratio, ceteris paribus. The results are robust to various … specifications like using changes in debt or debt to capital ratios. A significantly positive effect of taxes on the debt ratio can …

tax benefit of debt (net and gross of investor taxes) and the debt ratio. A 10% increase in the net (gross) marginal tax … benefit of debt causes a 1.5% (1.6%) increase in the debt ratio, ceteris paribus. The results are robust to various … specifications like using changes in debt or debt to capital ratios. A significantly positive effect of taxes on the debt ratio can …

tax benefit of debt (net and gross of investor taxes) and the debt ratio. A 10% increase in the net (gross) marginal tax … benefit of debt causes a 1.5% (1.6%) increase in the debt ratio, ceteris paribus. The results are robust to various … specifications like using changes in debt or debt to capital ratios. A significantly positive effect of taxes on the debt ratio can …

Multinational companies can exploit the tax advantage of debt more aggressively than national companies. Besides … utilizing the standard debt tax shield, multinationals can shift debt from affiliates in low-tax countries to affiliates in high …-tax countries. We study the capital structure of multinationals and expand previous theory by incorporating debt tax shield effects …

From a tax planner's point of view, it is often attractive to choose debt over equity financing. As this has led to an … increase of debt financing of corporations, many countries have introduced thin capitalization rules to secure their tax … as definite financing effects depend significantly on the fraction of long-term debt, of substantial shareholders and …

corporate tax reform in Germany. The financial leverage is measured by the ratio of long-term debt to total capital. Endogeneity … leverage by about 5 percent. We also find that the debt ratio is less responsive for small corporations and for corporations …. -- financial leverage ; financial structure ; debt ratio ; corporate income taxation ; corporate …

-owned affiliates. Second, the debt financing of partially-owned affiliates is less sensitive to the tax rate suggesting that partially …-owned affiliates rely less on international debt shifting than wholly-owned affiliates. This indicates that partially-owned affiliates …