EconStor >
Zentrum für Europäische Wirtschaftsforschung (ZEW), Mannheim >
ZEW Discussion Papers >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/24523
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorSchreiber, Ulrichen_US
dc.contributor.authorOveresch, Michaelen_US
dc.contributor.authorBüttner, Thiessen_US
dc.contributor.authorWamser, Georgen_US
dc.date.accessioned2009-02-16T14:57:04Z-
dc.date.available2009-02-16T14:57:04Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/24523-
dc.description.abstractThis paper analyzes the role of Thin-Capitalization rules for capital structure choice and investment decisions of multinationals. A theoretical analysis shows that the imposition of such rules tends to affect not only the leverage and the level of investment but also their tax-sensitivity. An empirical investigation of leverage and investment reported for affiliates of German multinationals in 24 countries in the period between 1996 and 2004 offers some support for the theoretical predictions. While Thin-Capitalization rules are found to be effective in restricting debt finance, investment is found to be more sensitive to taxes if debt finance is restricted.en_US
dc.language.isoengen_US
dc.publisherZentrum für Europäische Wirtschaftsforschung (ZEW) Mannheimen_US
dc.relation.ispartofseriesZEW Discussion Papers 06-68en_US
dc.subject.jelH26en_US
dc.subject.jelG32en_US
dc.subject.jelH25en_US
dc.subject.ddc330en_US
dc.subject.keywordCorporate Income Taxen_US
dc.subject.keywordMultinationalsen_US
dc.subject.keywordLeverageen_US
dc.subject.keywordThin-Capitalization Rulesen_US
dc.subject.keywordFirm-Level Dataen_US
dc.titleThe Impact of Thin-Capitalization Rules on Multinationals? Financing and Investment Decisionsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn519033558en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:zewdip:5462-
Appears in Collections:Publikationen von Forscherinnen und Forschern des ZEW
ZEW Discussion Papers

Files in This Item:
File Description SizeFormat
dp06068.pdf397.01 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.