Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/43566
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dc.contributor.authorFedele, Alessandroen_US
dc.contributor.authorPanteghini, Paolo M.en_US
dc.contributor.authorVergalli, Sergioen_US
dc.date.accessioned2010-11-24en_US
dc.date.accessioned2010-12-22T10:44:13Z-
dc.date.available2010-12-22T10:44:13Z-
dc.date.issued2010en_US
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_US
dc.language.isoengen_US
dc.publisher|aFondazione Eni Enrico Mattei (FEEM) |cMilanoen_US
dc.relation.ispartofseries|aNota di lavoro // Fondazione Eni Enrico Mattei: Institutions and markets |x2010,68en_US
dc.subject.jelH2en_US
dc.subject.ddc330en_US
dc.subject.keywordCapital Levyen_US
dc.subject.keywordCorporate Taxationen_US
dc.subject.keywordDefault Risken_US
dc.subject.keywordReal Optionsen_US
dc.titleOptimal investment and financial strategies under tax rate uncertaintyen_US
dc.type|aWorking Paperen_US
dc.identifier.ppn640487181en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

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