Taxes, Inflation and Corporate Financial Policy
作者:
LAWRENCE D. SCHALL,
期刊:
The Journal of Finance
(WILEY Available online 1984)
卷期:
Volume 39,
issue 1
页码: 105-126
ISSN:0022-1082
年代: 1984
DOI:10.1111/j.1540-6261.1984.tb03863.x
出版商: Blackwell Publishing Ltd
数据来源: WILEY
摘要:
ABSTRACTThis paper examines inflation‐induced distortions in personal and corporate income taxes and discusses the implications for corporate dividend and financial structure policies and for shareholder unanimity. The tax effects relating to capital gains and debt interest cause changes in aggregate corporate borrowing and lead to equilibrium tax relationships which differ from the zero‐inflation tax relationsh
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