Effects of tax rate changes on the cost of capital: The case of Japanese firms

Keiichi Kubota*, Hitoshi Takehara

*この研究の対応する著者

研究成果: Article査読

2 被引用数 (Scopus)

抄録

The paper studies the effects that tax rate changes have on the cost of capital when firms follow target leverage ratios. We show that changes in individual income tax rates are neutral. The focus therefore is on the effects of changes in marginal corporate tax rates. These effects are computed for Japanese firms. Special emphasis is given to changes in statutory tax rates and provisions that allow firms to carry their losses forward.

本文言語English
ページ(範囲)163-185
ページ数23
ジャーナルFinanzArchiv
63
2
DOI
出版ステータスPublished - 2007 6月 1
外部発表はい

ASJC Scopus subject areas

  • 財務

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