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dc.contributor.authorFedele, Alessandroen
dc.contributor.authorPanteghini, Paolo M.en
dc.contributor.authorVergalli, Sergioen
dc.date.accessioned2010-11-24-
dc.date.accessioned2010-12-22T10:44:13Z-
dc.date.available2010-12-22T10:44:13Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/43566-
dc.description.abstractIn this paper we apply a real-option model to study the effects of tax rate uncertainty on a firm's decisions. In doing so, we depart from the relevant literature, which focuses on fully equity-financed investment projects. By letting a representative firm borrow optimally, we show that debt finance not only encourages investment activities but can also substantially mitigate the effect of tax rate uncertainty on investment timing.en
dc.language.isoengen
dc.publisher|aFondazione Eni Enrico Mattei (FEEM) |cMilanoen
dc.relation.ispartofseries|aNota di Lavoro |x2010,68en
dc.subject.jelH2en
dc.subject.ddc330en
dc.subject.keywordCapital Levyen
dc.subject.keywordCorporate Taxationen
dc.subject.keywordDefault Risken
dc.subject.keywordReal Optionsen
dc.titleOptimal investment and financial strategies under tax rate uncertainty-
dc.typeWorking Paperen
dc.identifier.ppn640487181en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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