Taxation and corporate debt are banks any different ? Jost H. Heckemeyer and Ruud A. de Mooij
By: Heckemeyer, Jost Heinrich
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Contributor(s): Mooij, Ruud A. de.
Material type: 
ArticlePublisher: 2017Subject(s): IMPUESTOS | BANCA | BANCOS | DEUDORES Y ACREEDORES | SOCIEDADES
In:
National tax journal v. 70, n. 1, March 2017, p. 53-76Summary: 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.
| Item type | Current location | Home library | Call number | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
| IEF | OP 233/2017/1-2 (Browse shelf) | Available | OP 233/2017/1-2 |
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.
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