EconStor >
Verein für Socialpolitik >
Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie >

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

http://hdl.handle.net/10419/37232
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorFeld, Lars P.en_US
dc.contributor.authorHeckemeyer, Jost Henrichen_US
dc.contributor.authorOveresch, Michaelen_US
dc.date.accessioned2010-08-11T09:03:28Z-
dc.date.available2010-08-11T09:03:28Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/37232-
dc.description.abstractThis paper provides a quantitative review of the empirical evidence on the impact of taxation on corporate debt finance. On the basis of 626 primary estimates taken from 23 studies, we find that the median tax-rate elasticity of debt ratios is around 0.44. The median tax-rate elasticity of incremental debt changes amounts to 2.47. There is, however, considerable variation in estimated tax effects on financial leverage. By means of meta-regressions, the paper aims to systematically explain this variation in terms of underlying study characteristics. The meta-regressions indicate that the heterogeneity in the semi-elasticities from the different studies can be fairly well explained by the characteristics of these studies. We find that the estimated tax elasticities are more pronounced if large firms or holding companies are considered. Moreover, our results suggest significantly higher tax elasticities of intercompany debt supporting the view that tax planning strategies of multinational firms affect debt financing.en_US
dc.language.isoengen_US
dc.publisherVerein für Socialpolitik Frankfurt a. M.en_US
dc.relation.ispartofseriesBeiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Capital Structure and Taxation G7-V3en_US
dc.subject.jelG30en_US
dc.subject.jelH32en_US
dc.subject.jelF23en_US
dc.subject.ddc330en_US
dc.subject.keywordCapital Structureen_US
dc.subject.keywordCorporate Income Taxen_US
dc.subject.keywordTax-Elasticityen_US
dc.subject.keywordMeta-Analysisen_US
dc.titleCapital Structure Choice and Company Taxation: A Meta-Studyen_US
dc.typeConference Paperen_US
dc.identifier.ppn655216286-
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie

Files in This Item:
File Description SizeFormat
VfS_2010_pid_608.pdf198.25 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.