Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/59589 
Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
Economics Discussion Papers No. 2012-31
Verlag: 
Kiel Institute for the World Economy (IfW), Kiel
Zusammenfassung: 
This 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.
Schlagwörter: 
ACE
business taxation
leverage
JEL: 
H25
H32
Creative-Commons-Lizenz: 
cc-by-nc Logo
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
251.43 kB





Publikationen in EconStor sind urheberrechtlich geschützt.