Tax Avoidance And Capital Structure

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Tax Avoidance and Capital Structure

Author : Alessandro Gabrielli
Publisher : Springer Nature
ISBN 13 : 3031309804
Total Pages : 103 pages
Book Rating : 4.0/5 (313 download)

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Book Synopsis Tax Avoidance and Capital Structure by : Alessandro Gabrielli

Download or read book Tax Avoidance and Capital Structure written by Alessandro Gabrielli and published by Springer Nature. This book was released on 2023-05-23 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive overview of the implications of tax avoidance for a firm’s capital structure, highlighting the key role played by free cash flow and agency conflicts. First, the book provides an outline of the theories and empirical evidence concerning the role of taxes in the Theory of Capital Structure. It reviews the studies investigating the relationship between agency conflicts and capital structure. The book explores the role of free cash flow and agency conflicts in the relationship between tax avoidance and capital structure. In the final section, the results of an empirical investigation conducted on a sample of U.S. public firms are also presented. The empirical research examines whether and how tax avoidance is associated with debt covenant violation across the stages of the corporate life cycle. Specifically, the research uses the concept of the corporate life cycle stage to analyse whether and how the association between tax avoidance and debt covenant violation varies in different agency settings. Consistent with the hypotheses drawn on the Agency Theory, the findings of the empirical research suggest life cycle stages moderate the association between tax avoidance and debt covenant violation. Overall, this book sheds light on the potential implications of tax avoidance activities for a firm’s capital structure. The book will be of interest to both experienced and early-stage scholars interested in the topic. Moreover, the book will also be of interest to policymakers, investors, analysts, lenders, and other market participants.

How Does Corporate Tax Avoidance Affect Capital Structure Under the Tax Cuts and Jobs Act of 2017?.

Author : 林筱晴
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (128 download)

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Book Synopsis How Does Corporate Tax Avoidance Affect Capital Structure Under the Tax Cuts and Jobs Act of 2017?. by : 林筱晴

Download or read book How Does Corporate Tax Avoidance Affect Capital Structure Under the Tax Cuts and Jobs Act of 2017?. written by 林筱晴 and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Capital Structure and Tax Policies in German Family Firms

Author : Martin Wendt
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (116 download)

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Book Synopsis Capital Structure and Tax Policies in German Family Firms by : Martin Wendt

Download or read book Capital Structure and Tax Policies in German Family Firms written by Martin Wendt and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

International Double Taxation of Interest

Author : Sandra Martinho Fernandes
Publisher :
ISBN 13 : 9789087225483
Total Pages : 437 pages
Book Rating : 4.2/5 (254 download)

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Book Synopsis International Double Taxation of Interest by : Sandra Martinho Fernandes

Download or read book International Double Taxation of Interest written by Sandra Martinho Fernandes and published by . This book was released on 2019 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Technological Change and Technology Strategy

Author : Robert E. Evenson
Publisher :
ISBN 13 :
Total Pages : 144 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Technological Change and Technology Strategy by : Robert E. Evenson

Download or read book Technological Change and Technology Strategy written by Robert E. Evenson and published by . This book was released on 1994 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: Theoretical contributions; Technological infrastructure; Technological assets and development; International flows of technology; Technological investment in the private sector; Returns to technological activities; Policy issues.

Corporate Tax Avoidance and Debt Policy

Author : Ramesh P. Rao
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Corporate Tax Avoidance and Debt Policy by : Ramesh P. Rao

Download or read book Corporate Tax Avoidance and Debt Policy written by Ramesh P. Rao and published by . This book was released on 2013 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the relation between corporate tax avoidance and debt policy using a large sample of firms from 1988 to 2006. We use modified measures of book-tax difference and long-run cash effective tax rate to proxy for tax avoidance. Using both measures we find consistent evidence that tax avoidance is negatively associated with leverage ratio. Further, we find that the substitution of non-debt tax avoidance for debt dissipates for very large, highly profitable firms, and firms with higher credit rating. Our findings are robust to alternative measures of leverage. Consistent with the debt substitution hypothesis, we offer new evidence to show that tax is an important factor in corporate capital structure decisions.

Taxes and Business Strategy

Author : Myron S. Scholes
Publisher :
ISBN 13 : 9781292065571
Total Pages : 528 pages
Book Rating : 4.0/5 (655 download)

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Book Synopsis Taxes and Business Strategy by : Myron S. Scholes

Download or read book Taxes and Business Strategy written by Myron S. Scholes and published by . This book was released on 2015-01-03 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt: For MBA students and graduates embarking on careers in investment banking, corporate finance, strategy consulting, money management, or venture capital Through integration with traditional MBA topics, Taxes and Business Strategy, Fifth Edition provides a framework for understanding how taxes affect decision-making, asset prices, equilibrium returns, and the financial and operational structure of firms. Teaching and Learning Experience This program presents a better teaching and learning experience-for you and your students: *Use a text from an active author team: All 5 authors actively teach the tax and business strategy course and provide students with relevant examples from both classroom and real-world consulting experience. *Teach students the practical uses for business strategy: Students learn important concepts that can be applied to their own lives. *Reinforce learning by using in-depth analysis: Analysis and explanatory material help students understand, think about, and retain information.

Tax Biases to Debt Finance

Author : Ruud A. de Mooij
Publisher : International Monetary Fund
ISBN 13 : 1463935137
Total Pages : 25 pages
Book Rating : 4.4/5 (639 download)

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Book Synopsis Tax Biases to Debt Finance by : Ruud A. de Mooij

Download or read book Tax Biases to Debt Finance written by Ruud A. de Mooij and published by International Monetary Fund. This book was released on 2011-05-03 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.

International Corporate Tax Avoidance: A Review of the Channels, Magnitudes, and Blind Spots

Author : Sebastian Beer
Publisher : International Monetary Fund
ISBN 13 : 148436399X
Total Pages : 45 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis International Corporate Tax Avoidance: A Review of the Channels, Magnitudes, and Blind Spots by : Sebastian Beer

Download or read book International Corporate Tax Avoidance: A Review of the Channels, Magnitudes, and Blind Spots written by Sebastian Beer and published by International Monetary Fund. This book was released on 2018-07-23 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the rapidly growing empirical literature on international tax avoidance by multinational corporations. It surveys evidence on main channels of corporate tax avoidance including transfer mispricing, international debt shifting, treaty shopping, tax deferral and corporate inversions. Moreover, it performs a meta analysis of the extensive literature that estimates the overall size of profit shifting. We find that the literature suggests that, on average, a 1 percentage-point lower corporate tax rate will expand before-tax income by 1 percent—an effect that is larger than reported as the consensus estimate in previous surveys and tends to be increasing over time. The literature on tax avoidance still has several unresolved puzzles and blind spots that require further research.

Determinants and Consequences of Corporate Tax Avoidance

Author : Gerrit M. Lietz
Publisher :
ISBN 13 :
Total Pages : 65 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Determinants and Consequences of Corporate Tax Avoidance by : Gerrit M. Lietz

Download or read book Determinants and Consequences of Corporate Tax Avoidance written by Gerrit M. Lietz and published by . This book was released on 2013 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: I provide a first comprehensive literature survey with an exclusive focus on empirical corporate tax avoidance research. Shackelford and Shevlin [2001] traced the earlier developments of archival, microeconomic-based, empirical income tax research, pointing out a nascent interest for research on the determinants of tax aggressiveness. Nine years later, Hanlon and Heitzman [2010] labeled “corporate tax avoidance” as one of four “main areas” of tax research in accounting. Until and since then, work in this area has grown at a rapid pace and clearly remains a vibrant area of tax research. Hence, the goal of this study is to assist both researchers who are new to this field as well as experienced readers by providing an updated overview of empirical studies investigating firms' efforts to reduce their explicit tax burden. In a first step, the origins of tax avoidance research in the corporate context are briefly summarized. The second section briefly reviews numerous fundamental firm characteristics (e.g. size, capital structure, and asset mix) that have been shown to explain some variation in levels of tax avoidance. Third, the main part of this study is devoted to the discussion of the extensive empirical findings on the determinants and consequences of corporate tax avoidance (e.g. various corporate governance arrangements and alternative firm value implications). Finally, the study concludes with suggestions for future research.

The Routledge Companion to Tax Avoidance Research

Author : Nigar Hashimzade
Publisher : Routledge
ISBN 13 : 1317377087
Total Pages : 476 pages
Book Rating : 4.3/5 (173 download)

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Book Synopsis The Routledge Companion to Tax Avoidance Research by : Nigar Hashimzade

Download or read book The Routledge Companion to Tax Avoidance Research written by Nigar Hashimzade and published by Routledge. This book was released on 2017-10-02 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt: An inherently interdisciplinary subject, tax avoidance has attracted growing interest of scholars in many fields. No longer limited to law and accounting, research increasingly has been conducted from other perspectives, such as anthropology, business ethics, corporate social responsibility, and economic psychology. This was –recently stimulated by politicians, mass media, and the public focussing on tax avoidance after the global financial and economic crisis put a squeeze on private and public finances. New challenges were posed by changing definitions and controversies in the interpretation of tax avoidance concept, as well as a host of new rules and policies that need to be fully understood. This collection provides a comprehensive guide to students and academics on the subjects of tax avoidance from an interdisciplinary perspective, exploring the areas of accounting, law, economics, psychology, and sociology. It covers global as well as regional issues, presents a discussion of the definition, legality, morality, and psychology of tax avoidance, and provides guidance on measurement of economic effect of tax avoidance activities. With a truly international selection of authors from the UK, North America, Africa, Asia, Australasia, Middle East, and continental Europe, with well-known experts and rising stars of the field, the contributors cover the entire terrain of this important topic. The Routledge Companion to Tax Avoidance Research is a ground-breaking attempt to bring together scholarly research in tax avoidance, offering rigorous academic analysis of an important and hotly debated issue in a structured and balanced way.

Addressing Base Erosion and Profit Shifting

Author : OECD
Publisher : OECD Publishing
ISBN 13 : 9264192743
Total Pages : 91 pages
Book Rating : 4.2/5 (641 download)

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Book Synopsis Addressing Base Erosion and Profit Shifting by : OECD

Download or read book Addressing Base Erosion and Profit Shifting written by OECD and published by OECD Publishing. This book was released on 2013-02-12 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report presents studies and data available regarding the existence and magnitude of base erosion and profit shifting (BEPS), and contains an overview of global developments that have an impact on corporate tax matters.

Tax Avoidance Activities of U.S. Multinational Corporations

Author : Sonja Lynne Olhoft
Publisher :
ISBN 13 :
Total Pages : 224 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Tax Avoidance Activities of U.S. Multinational Corporations by : Sonja Lynne Olhoft

Download or read book Tax Avoidance Activities of U.S. Multinational Corporations written by Sonja Lynne Olhoft and published by . This book was released on 1999 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Valuing Intellectual Capital

Author : Gio Wiederhold
Publisher : Springer Science & Business Media
ISBN 13 : 1461466113
Total Pages : 602 pages
Book Rating : 4.4/5 (614 download)

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Book Synopsis Valuing Intellectual Capital by : Gio Wiederhold

Download or read book Valuing Intellectual Capital written by Gio Wiederhold and published by Springer Science & Business Media. This book was released on 2013-08-13 with total page 602 pages. Available in PDF, EPUB and Kindle. Book excerpt: Valuing Intellectual Capital provides readers with prescriptive strategies and practical insights for estimating the value of intellectual property (IP) and the people who create that IP within multinational companies. This book addresses the crucial topic of taxation from a rigorous and quantitative perspective, backed by experience and original research that illustrates how large corporations need to measure the worth of their intangible assets. Each method in the text is applied through the lens of a model corporation, in order for readers to understand and quantify the operation of a real-world multinational enterprise and pinpoint how companies easily misvalue their intellectual capital when transferring IP rights to offshore tax havens. The effect contributes to the issues that can lead to budgetary crises, such as the so-called “fiscal cliff” that was partially averted by passage of the American Taxpayer Relief Act on New Year’s day 2013. This book also features a chapter containing recommendations for a fair and balanced corporate tax structure free of misvaluation and questionable mechanisms. CFOs, corporate auditors, corporate financial analysts, corporate financial planners, economists, and journalists working with issues of taxation will benefit from the concepts and background presented in the book. The material clearly indicates how a trustworthy valuation of intellectual capital allows a realistic assessment of a company’s income, earnings, and obligations. Because of the intense interest in the topic of corporate tax avoidance the material is organized to be accessible to a broad audience.

Capital Income Taxation in the Netherlands

Author : Mr. Alexander D Klemm
Publisher : International Monetary Fund
ISBN 13 : 1513573446
Total Pages : 41 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Capital Income Taxation in the Netherlands by : Mr. Alexander D Klemm

Download or read book Capital Income Taxation in the Netherlands written by Mr. Alexander D Klemm and published by International Monetary Fund. This book was released on 2021-05-20 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper looks at capital income taxation in the Netherlands from an international and domestic perpective. The Netherlands is a major conduit country for FDI. Recent reforms taken by the Dutch authorities as well as public statements represent a strong move to address international tax avoidance, but it is too early to be able to detect the impact in the data, and measuring tax avoidance even in the past is fraught with difficulties. Domestically, the unique system, which for many financial assets effectively taxes wealth rather than capital income, leads to inequities and distortions. Owner-occupied housing is strongly tax-favored and in many cases effectively subsidized. Various reforms, not necessarily of a fundamental nature, would improve efficiency and equity.

Taxation, Corporation Capital Structure, and Financial Distress

Author : Mark Gertler
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Taxation, Corporation Capital Structure, and Financial Distress by : Mark Gertler

Download or read book Taxation, Corporation Capital Structure, and Financial Distress written by Mark Gertler and published by . This book was released on 1989 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Offshore Profit Shifting and the U. S. Tax Code

Author : United States. Congress. Senate. Committee on Homeland Security and Governmental Affairs. Permanent Subcommittee on Investigations
Publisher :
ISBN 13 :
Total Pages : 648 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Offshore Profit Shifting and the U. S. Tax Code by : United States. Congress. Senate. Committee on Homeland Security and Governmental Affairs. Permanent Subcommittee on Investigations

Download or read book Offshore Profit Shifting and the U. S. Tax Code written by United States. Congress. Senate. Committee on Homeland Security and Governmental Affairs. Permanent Subcommittee on Investigations and published by . This book was released on 2013 with total page 648 pages. Available in PDF, EPUB and Kindle. Book excerpt: