The capital structure puzzle still remains unsolved. Every year there are many incidences of firms, reporting very high and risky levels of debt ratios. Since debt has tax advantages over other sources of capital, this paper employs simulated marginal tax rate (MTR) and its variants to study the...

Since the development of efficient proxies for taxes, many researchers have proved the existence of impact of tax on financing decisions. The ultimate aim of each business decision is to enhance the value of the firm; hence it is important to study the tax implications of financing decisions on...

To be able to predict when a nation will go bust has been one of toughest challenges in macroeconomics. Considerable research and effort has been put into this direction but still we are not in a position to say anything with certainty. This paper analyzes panel pool data on 31 countries across...