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 …

marginal tax rates affect the debt policies of Spanish listed companies, and the existence of non-debt tax shields constitutes … an alternative to the use of debt as a tax shelter. Consistent with theoretical expectations, there is a stronger … relation between debt and taxation in less levered firms. Finally, we empirically estimate the impact of the new thin …

marginal tax rates affect the debt policies of Spanish listed companies, and the existence of non-debt tax shields constitutes … an alternative to the use of debt as a tax shelter. Consistent with theoretical expectations, there is a stronger … relation between debt and taxation in less levered firms. Finally, we empirically estimate the impact of the new thin …

In this study, we use cross-sectional regressions to estimate the value of the debt-tax shield. Recognizing that debt … future profitability on firm value and debt rather than regressing firm value on debt and profitability. Reversing the …. Our estimated value for the debt-tax shield is approximately 40 percent (ten percent) of debt balances (firm value), net …

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 …

Understanding the effects of marginal tax rate on debt policy is crucial not only for　considering various capital … Graham (1996)) and the debt ratio increase of Japanese firms. This result shows that the marginal tax rates significantly … affect the debt policies of Japanese firms. Corporate tax reform to produce equal treatment of equity and debt is desirable …

and risky levels of debt ratios. Since debt has tax advantages over other sources of capital, this paper employs simulated … analyses three different measures of leverage; debt to asset (DAR) ratio, incremental debt to total assets ratio (DINC) and … debt to capital employed (DAR1) ratio. For each measure of leverage ratio, different specifications based on four variants …

advantage of debt in domestic manufacturing companies in India. Incremental financing decisions have been analyzed through … debt on leverage decisions of Indian firms. After including personal taxes, marginal taxes become insignificant. The study …