Heckemeyer, Jost Heinrich
Taxation and corporate debt are banks any different ? / Jost H. Heckemeyer and Ruud A. de Mooij .-- , 2017
Disponible también en línea a través de la Biblioteca del Instituto de Estudios Fiscales. Resumen. Conclusión. Bibliografía.
Variation in the responsiveness of firms to corporate tax incentives toward debtfinance is important fo r understanding the presumed effects o fthe debt bias onmacro-financial stability. This holds especially fo r the difference in responsivenessbetween banks and non-banks. Using a large cross-country micro panel o f consolidated firm accounts, we fin d relatively large responses for the biggest non-financial companies, although these effects are less pronounced as conditional leverage ratios increase. The smallest effects are found for large banks. Results are largelyrobust for attenuation bias.
IMPUESTOS
BANCA
BANCOS
DEUDORES Y ACREEDORES
SOCIEDADES
Mooij, Ruud A. de
National tax journalv. 70, n. 1, March 2017, p. 53-76
Taxation and corporate debt are banks any different ? / Jost H. Heckemeyer and Ruud A. de Mooij .-- , 2017
Disponible también en línea a través de la Biblioteca del Instituto de Estudios Fiscales. Resumen. Conclusión. Bibliografía.
Variation in the responsiveness of firms to corporate tax incentives toward debtfinance is important fo r understanding the presumed effects o fthe debt bias onmacro-financial stability. This holds especially fo r the difference in responsivenessbetween banks and non-banks. Using a large cross-country micro panel o f consolidated firm accounts, we fin d relatively large responses for the biggest non-financial companies, although these effects are less pronounced as conditional leverage ratios increase. The smallest effects are found for large banks. Results are largelyrobust for attenuation bias.
IMPUESTOS
BANCA
BANCOS
DEUDORES Y ACREEDORES
SOCIEDADES
Mooij, Ruud A. de
National tax journalv. 70, n. 1, March 2017, p. 53-76