suggest past realization of debt explains most of the current debt level after controlling for endogeneity. We find no … significant association between debt and firm characteristics …

itself mainly in gradual increase in debt ratios with a dominant role of short-term debt, along with the decrease in the …

.3 percent higher domestic liabilities relative to other multinationals, equivalent to $152.2 million more domestic debt per firm …

) countries over the time period 2002-2012. Our results show a significant impact of the net tax benefit of debt on the debt ratio … of firms. Ignoring firm heterogeneity, an increase in the net tax benefit of debt by 10 percentage points leads to an … increase in the debt ratio of 2.49 percentage points. Taking into account investor-level taxation and firm heterogeneity, an …

We contribute to the empirical literature on the debt bias of corporate income taxation through a micro …Klassische Systeme der Unternehmensbesteuerung verzerren die Finanzierungsentscheidung von Unternehmen (‘Debt Bias …

We contribute to the empirical literature on the debt bias of corporate income taxation through a micro …

Firms have the incentive to enhance debt financing with higher corporate tax rates due to the increased value of … interest deductions from the tax base. However, external debt is relatively costly for corporations with a high firm …-specific risk. Moreover, for multinationals, the shifting of internal debt opens up additional tax saving opportunities. Using a …

jurisdictions where the banking group operates. Then, we evaluate the effects that establishing tax neutrality between debt and … matters. In particular, a coordinated elimination of the tax advantage of debt would significantly reduce systemic losses in … national tax policies generate spillovers through cross-border bank activities and tax-driven strategic allocation of debt and …