Eom, Young Ho (contributor); Helwege, Jean (contributor); … - 2003 - [Elektronische Ressource]
1990-91 recession, whereas the flat yield curve of 1997 occurs more than two years before the next
inverted yield curve …, the LT model is the only one that considers
taxes by incorporating the tax deductibility of interest payments in their … model. Following them,
we choose a value of the tax rate ¿ = 0:35.
3 Empirical Results
In section 3.1 we discuss the ability …