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debt on leverage decisions of Indian firms. After including personal taxes, marginal taxes become insignificant. The study …The study investigates the role of personal taxes in corporate financing decisions and its impact on the corporate tax … advantage of debt in domestic manufacturing companies in India. Incremental financing decisions have been analyzed through …
Persistent link: https://www.econbiz.de/10010781944
structure and leverage. It therefore takes into consideration the existence of any significant differences between the leverage … structure than those of non-family owned businesses. This indicates that most family firms use less debt financing than non …-family firms, and as such maintain a lower level of debt. Secondly, family firms demonstrate lower risk as illustrated by the …
Persistent link: https://www.econbiz.de/10012173275
) which factors - country- or firm-specific - are more relevant in explaining leverage in Poland, (2) which theory - trade … itself mainly in gradual increase in debt ratios with a dominant role of short-term debt, along with the decrease in the … importance of country-specific factors (especially in large-sized, listed firms). The signs of the associations between leverage …
Persistent link: https://www.econbiz.de/10011455533
structure and leverage. It therefore takes into consideration the existence of any significant differences between the leverage … structure than those of non-family owned businesses. This indicates that most family firms use less debt financing than non …-family firms, and as such maintain a lower level of debt. Secondly, family firms demonstrate lower risk as illustrated by the …
Persistent link: https://www.econbiz.de/10012611241
to this decision is both tax advantaged debt (a source of firm franchise value) and the ability of regulators to place …This paper studies the impact of capital requirements, deposit insurance and tax benefits on a bank's capital structure … structure of the large mortgage Government Sponsored Enterprises and the recent increase in risk taking through leverage by …
Persistent link: https://www.econbiz.de/10005097439
by curbing risk-taking incentives, the higher the leverage the bank is permitted to take on. Consequently, the risk …
Persistent link: https://www.econbiz.de/10011539591
This paper proposes a new regulatory approach that implements capital requirements contingent on managerial compensation. We argue that excessive risk taking in the financial sector originates from the shareholder moral hazard created by government guarantees rather than from corporate...
Persistent link: https://www.econbiz.de/10010226049
in a firm's leverage decision during economic uncertainty and recommends increasing debt financing to incentivize value … corporate leverage relationship. Using stepwise regression analysis and annual firm-level data of 2,534 U.S. firms listed at … NYSE over 1995-2018, we provide novel evidence that cash holdings significantly and partially mediate the EPU-leverage …
Persistent link: https://www.econbiz.de/10014500896
funds, and their incentive to reduce their tax payments by debt financing is weaker. (5) The companies listed on the Ho Chi … companies in Vietnam face weak incentives to reduce their tax payments by debt financing because the effective corporate tax …-controlled companies are different from those of other companies; state-controlled companies have an advantage in tapping external debt …
Persistent link: https://www.econbiz.de/10009643957
This study investigates the factors determining the debt-ratios of listed companies on the Hanoi and Ho Chi Minh stock … results. (1) The debt-ratios of listed companies may be well explained by adjusted Modigliani and Miller theory combined with … for qualified and listed companies. (3) Government controlled companies have weak incentives to save corporate tax …
Persistent link: https://www.econbiz.de/10008563381