Kort, Peter; De Waegenaere, Anja; Wielhouwer, J.L. - Tilburg University, Center for Economic Research - 1999
fact that an additional deferred tax liability arises. Two types of capital stock will therefore a defect shareholder value … these two types of capital stock, and study the effects of the tax depreciation rate on the firm's optimal dynamic … investment strategy, dividend policy, and long run capital stock level. …