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Capital structure, corporate taxation and firm age

Pfaffermayr, Michael; Stöckl, Matthias; Winner, Hannes - 2008

This paper analyzes the relationship between capital structure, corporate taxation and firm age. We adapt a standard model of optimal capital structure choice under corporate taxation, focusing on the financing and investment decisions a young firm is typically faced with. Our model allows to...

Persistent link: https://www.econbiz.de/10010293406

Capital structure, corporate taxation and firm age

Pfaffermayr, Michael; Stöckl, Matthias; Winner, Hannes - 2008

Persistent link: https://www.econbiz.de/10009731787

Capital structure, corporate taxation and firm age

Pfaffermayr, Michael; Stöckl, Matthias; Winner, Hannes - 2009

This paper analyzes the relationship between corporate taxation, firm age and debt. We adapt a standard model of capital structure choice under corporate taxation, focusing on the financing and investment decisions a firm is typically faced with. Our model suggests that the debt ratio is...

Persistent link: https://www.econbiz.de/10009732574

Capital structure, corporate taxation and firm age

Pfaffermayr, Michael; Stöckl, Matthias; Winner, Hannes - 2008

Persistent link: https://www.econbiz.de/10003738420

Can formula apportionment really prevent multinational enterprises from profit shifting? : the role of asset valuation, intragroup debt, and leases

Kiesewetter, Dirk; Steigenberger, Tobias; Stier, Matthias - 2014

The European Commission has been supporting a transition from a system of separate accounting to a system of formula apportionment. In 2011, it presented a proposal for a council directive on a Common Consolidated Corporate Tax Base (CCCTB). Formula apportionment is often considered more...

Persistent link: https://www.econbiz.de/10010410351

Zinsschranke, Unternehmensbewertung und APV Ansatz - eine Anmerkung zum Beitrag von Förster/Stöckl/Brenken (ZfB 2009, S. 985 ff.)

Arnold, Sven; Lahmann, Alexander; Schwetzler, Bernd - 2011 - Version vom 09.06.2010

Diskontierungssätze die Kenntnis des Wertbeitrages bereits voraus. -- Unternehmensbewertung ; Kapitalstruktur ; Tax Shield ; Zinsschranke …The German "Zinsschranke" limits the tax deductability of interest expenses. Recently, in this journal Förster et al … Zinsschranke und ihrer Wirkung auf die zinsinduzierte Steuerersparnis vor. Dieser Beitrag nimmt kritisch dazu Stellung: Es wird …

Persistent link: https://www.econbiz.de/10008986956

Curbing corporate debt bias : do limitations to interest deductibility work?

Mooij, Ruud A. de; Hebous, Shafik - 2017

Tax provisions favoring corporate debt over equity finance ("debt bias") are widely recognized as a risk to financial stability. This paper explores whether and how thin-capitalization rules, which restrict interest deductibility beyond a certain amount, affect corporate debt ratios and mitigate...

Persistent link: https://www.econbiz.de/10011597274

Investor taxation, firm heterogeneity and capital structure choice

Haring, Magdalena; Niemann, Rainer; Rünger, Silke - 2016

We analyze the effect of investor level taxes, firm-specific ownership structure and firm-specific payout policy on firms' capital structure choice. Our analysis is based on data for 10,983 firms from 13 Central and Eastern European (CEE) countries over the time period 2002-2012. Our results...

Persistent link: https://www.econbiz.de/10011541065

Five empirical essays on corporate taxation

Dreßler, Daniel - 2012

Persistent link: https://www.econbiz.de/10009688989

Accelerated depreciation, default risk and investment decisions

Panteghini, Paolo; Vergalli, Sergio - 2016

In this article we focus on a representative firm that can decide when to invest under default risk. On the one hand, this firm can benefit from generous tax depreciation allowances, on the other hand it faces a default risk. Our aim is to study the effects of tax depreciation allowances in a...

Persistent link: https://www.econbiz.de/10011416013

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