This paper studies pension fund design in the context of investment in the debt and equity of a firm. We employ a …

This paper analyzes the relationship between corporate taxation, firm age and debt. We adapt a standard model of … faced with. Our model suggests that the debt ratio is positively associated with the corporate tax rate, and negatively with … firm age. Further, we predict that the tax-induced advantage of debt is more important for older than for younger firms. To …

taxation, a firm's age and its debt to asset ratio. To test these hypotheses empirically, we use a cross-section of 405 …,000 firms from 35 European countries and 126 NACE 3-digit industries. In line with previous research, we find that a firm's debt … ratio increases with the corporate tax rate. Further, we observe that older firms exhibit smaller debt ratios than their …

This paper analyzes the relationship between corporate taxation, firm age and debt. We adapt a standard model of … faced with. Our model suggests that the debt ratio is positively associated with the corporate tax rate, and negatively with … firm age. Further, we predict that the tax-induced advantage of debt is more important for older than for younger firms. To …

taxation, a firm's age and its debt to asset ratio. To test these hypotheses empirically, we use a cross-section of 405 …,000 firms from 35 European countries and 126 NACE 3-digit industries. In line with previous research, we find that a firm's debt … ratio increases with the corporate tax rate. Further, we observe that older firms exhibit smaller debt ratios than their …

This paper analyzes the relationship between corporate taxation, firm age and debt. We adapt a standard model of … faced with. Our model suggests that the debt ratio is positively associated with the corporate tax rate, and negatively with … firm age. Further, we predict that the tax-induced advantage of debt is more important for older than for younger firms. To …