Leverage ratios, the ratio of a firm's debt to equity or assets, is a frequently used measure of firm risk, utilized by …

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 …

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 …

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 …

policy’s risk by taking into account default probabilities, the firm takes advantage of the government by using senior debt … to minimize the carbon tax policy’s cost. The shift to debt financing, in turn, mitigates the carbon tax policy … interests. Such a rule renders senior debt no longer useful for reducing the carbon tax policy’s cost. As a result, the tax …

facts, leverage increasing firms tend to be more profitable and firms with high R&D expenditures tend not to use debt as a …

This paper explores whether corporate tax bias toward debt finance differs between banks and nonbanks, using a large …