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dc.contributor.authorPanteghini, Paoloen_US
dc.contributor.authorParisi, Maria Lauraen_US
dc.contributor.authorPighetti, Francescaen_US
dc.date.accessioned2012-07-03en_US
dc.date.accessioned2012-07-10T16:42:30Z-
dc.date.available2012-07-10T16:42:30Z-
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/10419/59589-
dc.description.abstractThis article describes the new ACE-type system implemented in Italy since 2012. The authors first show that this system reduces but does not eliminate the financial distortion due to interest deductibility. Using a dataset of Italian companies, the authors analyze the impact of this relief on Italian firm capital structure. Despite the permanence of a tax advantage and its gradual implementation, the ACE relief is estimated to reduce significantly leverage. By decreasing default risk it is also expected to reduce systemic risk.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesEconomics Discussion Papers 2012-31en_US
dc.subject.jelH25en_US
dc.subject.jelH32en_US
dc.subject.ddc330en_US
dc.subject.keywordACEen_US
dc.subject.keywordbusiness taxationen_US
dc.subject.keywordleverageen_US
dc.subject.stwUnternehmensbesteuerungen_US
dc.subject.stwEigenkapitalen_US
dc.subject.stwSteuerbegünstigungen_US
dc.subject.stwKapitalstrukturen_US
dc.subject.stwItalienen_US
dc.titleItaly's ACE tax and its effect on a firm's leverageen_US
dc.typeWorking Paperen_US
dc.identifier.ppn718694260en_US
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.en-
dc.identifier.repecRePEc:zbw:ifwedp:201231-
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