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S-based taxation under default risk
Panteghini, Paolo M. - 2005
neutrality properties depend on whether debt is protected or unprotected. In the former case, this system is neutral. In the …
Persistent link: https://www.econbiz.de/10010276131
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On corporate tax asymmetries and neutrality
Panteghini, Paolo - 2000
This article discusses the effects of corporate tax asymmetries under investment irreversibility. We introduce a tax scheme where the tax base is given by the firm's return net of a rate of relief. When the firm's return is less than the imputation rate, however, no tax refunds are allowed....
Persistent link: https://www.econbiz.de/10009781551
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On Corporate Tax Asymmetries and Neutrality
Panteghini, Paolo - CESifo - 2000
This article discusses the effects of corporate tax asymmetries under investment irreversibility. We introduce a tax scheme where the tax base is given by the firm's return net of a rate of relief. When the firm's return is less than the imputation rate, however, no tax refunds are allowed....
Persistent link: https://www.econbiz.de/10005766102
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On Corporate Tax Asymmetries and Neutrality
Panteghini, Paolo - 2000
This article discusses the effects of corporate tax asymmetries under investment irreversibility. We introduce a tax scheme where the tax base is given by the firm's return net of a rate of relief. When the firm's return is less than the imputation rate, however, no tax refunds are allowed....
Persistent link: https://www.econbiz.de/10010314973
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Evaluating Neutrality Properties of Corporate Tax Reforms
Devereux, Michael P.; Loretz, Simon - Saïd Business School, Oxford University - 2010
We propose a methodology for assessing the neutrality of corporate tax reform proposals in an open economy. The … methodology identifies variation in effective tax rates to assess the proximity of a tax system to capital export neutrality (CEN …) and to market neutrality (MN, which holds if all potential competitors in a single market face the same effective tax rate …
Persistent link: https://www.econbiz.de/10008620622
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Evaluating neutrality properties of corporate tax reforms
Devereux, Michael P.; Loretz, Simon - 2010
Persistent link: https://www.econbiz.de/10003979917
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A Modigliani-Miller theorem for the public finances of globalized economies
Bossone, Biagio - In: International review of financial analysis 94 (2024), pp. 1-12
. The article proves a new Neutrality Theorem whereby, in a globalized economy the cost of the capital needed by governments …
Persistent link: https://www.econbiz.de/10014543921
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Realised tax benefits and capital structure
Dai, Tian-shyr; Wang, Chuan-ju - In: International journal of bonds and derivatives 1 (2013) 1, pp. 88-109
Persistent link: https://www.econbiz.de/10010338907
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International debt shifting : the value-maximizing mix of internal and external debt
Møen, Jarle; Schindler, Dirk; Schjelderup, Guttorm; … - In: International journal of the economics of business 26 (2019) 3, pp. 431-465
Persistent link: https://www.econbiz.de/10012182275
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Corporate taxation and financial strategies under asymmetric information
Cohen, Francesco; Fedele, Alessandro; Panteghini, Paolo - 2014
In this article we study the corporate tax effects on credit market equilibria. In particular, we develop a model that accounts for five pieces of evidence: i) the existence of a tax incentive to borrow, ii) the negative relationship between leverage and profitability, iii) the existence of...
Persistent link: https://www.econbiz.de/10010347029