’): Weil Zinsen für Fremdkapital von der Steuerbasis abgezogen werden können, die (Opportunitäts) Kosten für Eigenkapital …-econometric evaluation of the so-called ACE corporate tax reform in Belgium based on firm-level accounting data. We interpret the tax reform … structure of Belgian corporations, as the estimated reduction of the leverage ratio is most pronounced for big firms. Estimation …

Theory recommends aligning the tax treatment of debt and equity. A few countries, notably Belgium, have introduced an …