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Marginal versus average beta of equity under corporate taxation
Lund, Diderik - 2009
together with inframarginal, marginal beta differs from average if there are investment-related deductions like depreciation …
Persistent link: https://www.econbiz.de/10010285573
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Marginal versus average beta of equity under corporate taxation
Lund, Diderik - 2009
together with inframarginal, marginal beta differs from average if there are investment-related deductions like depreciation …
Persistent link: https://www.econbiz.de/10003846172
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Corporate taxes, investment and the self-financing rate : the effect of location decisions and exports
Brasch, Thomas von; Frankovic, Ivan; Tölö, Eero - 2021
In this paper, we study how lower corporate tax rates impact investment by including two novel channels into a DSGE model used for fiscal policy analysis in Norway. We capture both how foreign firms relocate and invest in the country when corporate taxes are reduced and how the inflow of FDI...
Persistent link: https://www.econbiz.de/10012513091
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Tax incentives and business investment : evidence from German bonus depreciation
Eichfelder, Sebastian; Schneider, Kerstin - 2014
In this paper, we use an exogenous variation in tax regulations to analyze the impact of bonus depreciation programs on … business investment. To promote economic convergence of Eastern and Western Germany after reunification, bonus depreciation tax … the theoretical literature, there is empirical evidence for strong and significant effects of the bonus depreciation …
Persistent link: https://www.econbiz.de/10010354738
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Options for Corporate Capital Cost Recovery : Tax Rates and Depreciation
Fichtner, Jason - 2018
the cost of capital investments. Depreciation?the process of writing off capital purchases over time?has received … tax code is open to special-interest tailoring. The tax code is often manipulated by arbitrarily shortening depreciation … timelines through accelerated depreciation or bonus expensing. As a solution to the current inequity and inefficiency of …
Persistent link: https://www.econbiz.de/10012918344
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Why the Norwegian shareholder income tax is neutral
Södersten, Jan - 2019
This note extends the work by Sørensen (2005) and others by demonstrating why the Norwegian Shareholder Income Tax may be neutral between the two sources of equity funds, i.e. new share issues and retained earnings, despite the fact that the retention of earnings to finance new investment does...
Persistent link: https://www.econbiz.de/10011967007
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Capital decay and tax distortions : how to abandon exponential decay and benefit from it
Biørn, Erik - 2009
and tax-permitted depreciation, is considered. Both convex and concave survival functions can be accommodated. Three …-relevant accounting capital and true depreciation, (ii) mis-indexation of depreciation allowances, (iii) incomplete deductibility of …-exponential depreciation schedules are forced, by `approximation devices', to fit into the exponential decay schedule. -- Capital taxation …
Persistent link: https://www.econbiz.de/10003914466
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How does bonus depreciation affect real investment? : effect size, asset structure, and tax planning
Eichfelder, Sebastian; Knaisch, Jonas; Schneider, Kerstin - 2023
We analyze how tax incentives (bonus depreciation) affect real investment choices of firms by exploiting an exogenous … longest regular depreciation periods in absence of bonus depreciation. The impact on equipment investment is significantly …) and relatively low tax planning costs (large firms) enhancing the effect of bonus depreciation on investment. There is …
Persistent link: https://www.econbiz.de/10014304021
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At a Cost : The Real Effects of Thin Capitalization Rules
De Mooij, Ruud A.; Liu, Li - 2021
Thin capitalization rules (TCRs) aim to mitigate profit shifting by multinational corporations (MNCs) but, by raising the cost of capital for affected affiliates, can also negatively affect real investment. Exploiting unique panel data on multinational companies in 34 countries during 2006-2014,...
Persistent link: https://www.econbiz.de/10013243062
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A Closer Look at Leverage, Corporate Taxes and the Cost of Capital
Handley, John C. - 2023
It is widely known that leverage reduces the cost of capital of a firm in a perfect capital market save for corporate income taxes. This result, however, rests on a cost of capital measure which is not fit for this purpose. When the correct measure is used, we find that leverage reduces the...
Persistent link: https://www.econbiz.de/10014362306