Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/25829 
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dc.contributor.authorPanteghini, Paolo M.en
dc.date.accessioned2006-09-06-
dc.date.accessioned2009-07-28T08:12:38Z-
dc.date.available2009-07-28T08:12:38Z-
dc.date.issued2006-
dc.identifier.urihttp://hdl.handle.net/10419/25829-
dc.description.abstractThe evidence shows that in most countries the present value of depreciation allowances is less than 100% of the cost of capital. In this article we use a real-option model with debt financing, and show that less favorable depreciation allowances are offset by tax benefits arising from debt financing. Allowing partial deduction of capital cost is thus a necessary condition for investment neutrality to hold.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x1784en
dc.subject.jelD92en
dc.subject.jelG33en
dc.subject.ddc330en
dc.titleA simple explanation for the unfavorable tax treatment of investment costs-
dc.typeWorking Paperen
dc.identifier.ppn517038129en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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