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dc.contributor.authorFeld, Lars P.en
dc.contributor.authorHeckemeyer, Jost H.en
dc.contributor.authorOveresch, Michaelen
dc.date.accessioned2012-01-26-
dc.date.accessioned2012-01-31T14:14:52Z-
dc.date.available2012-01-31T14:14:52Z-
dc.date.issued2011-
dc.identifier.urihttp://hdl.handle.net/10419/54979-
dc.description.abstractThis paper provides a quantitative review of the empirical literature on the tax impact on corporate debt financing. Synthesizing the evidence from 46 previous studies, we find that this impact is substantial. In particular, the tax rate proxy determines the outcome of primary analyses. Measures like the simulated marginal tax rate (Graham (1996a)) avoid a downward bias in estimates for the debt response to tax. Moreover, debt characteristics, econometric specifications, and the set of control-variables affect tax effects. Accounting for misspecification biases by means of meta-regressions, we predict a marginal tax effect on the debt ratio of 0.3.en
dc.language.isoengen
dc.publisher|aZentrum für Europäische Wirtschaftsforschung (ZEW) |cMannheimen
dc.relation.ispartofseries|aZEW Discussion Papers |x11-075en
dc.subject.jelG30en
dc.subject.jelH32en
dc.subject.jelF23en
dc.subject.ddc330en
dc.subject.keywordcapital structureen
dc.subject.keywordcorporate income taxen
dc.subject.keywordmeta-analysisen
dc.subject.stwKörperschaftsteueren
dc.subject.stwSteuerwirkungen
dc.subject.stwKapitalstrukturen
dc.subject.stwFremdkapitalen
dc.subject.stwMeta-Analyseen
dc.subject.stwWelten
dc.titleCapital structure choice and company taxation: A meta-study-
dc.typeWorking Paperen
dc.identifier.ppn684258129en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:zewdip:11075en

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