dynamics of important variables like firm value, dividend payout, and investment differs qualitatively depending on whether the …

announced in Q1 2018 they would pay some portion of their tax savings toward workers. In terms of investment, we find that 22 …% of the S&P 500 firms in our sample mentioned in earnings conference calls that they would increase investment because of … payments to workers and plans to increase investment. Firms with a Political Action Committee that donates more to Republican …

announced in Q1 2018 they would pay some portion of their tax savings toward workers. In terms of investment, we find that 22 …% of the S&P 500 firms in our sample mentioned in earnings conference calls that they would increase investment because of … payments to workers and plans to increase investment. Firms with a Political Action Committee that donates more to Republican …

We contribute to the empirical literature on the relationship between corporate taxes and investment. We exploit the … capital spending of Belgian corporations, we focus on the indirect effect of taxes on investment via their impact on free cash …-flow. We use the systematic variation of the cash-flow sensitivity of investment between small and medium versus large firms to …