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来源类型 | FEEM working papers "Note di lavoro" series |
规范类型 | 论文 |
Optimal Investment and Financial Strategies under Tax Rate Uncertainty | |
Alessandro Fedele; Paolo M. Panteghini; Sergio Vergalli | |
发表日期 | 2010 |
出处 | Economy and Society |
出版年 | 2010 |
语种 | 英语 |
摘要 | In this paper we apply a real-option model to study the effects of tax rate uncertainty on a firm's decisions. In doing so, we depart from the relevant literature, which focuses on fully equity-financed investment projects. By letting a representative firm borrow optimally, we show that debt finance not only encourages investment activities but can also substantially mitigate the effect of tax rate uncertainty on investment timing. |
特色分类 | H2 |
关键词 | Capital Levy Corporate Taxation Default Risk Real Options |
URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/optimal-investment-and-financial-strategies-under-tax-rate-uncertainty/ |
来源智库 | Fondazione Eni Enrico Mattei (Italy) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/117849 |
推荐引用方式 GB/T 7714 | Alessandro Fedele,Paolo M. Panteghini,Sergio Vergalli. Optimal Investment and Financial Strategies under Tax Rate Uncertainty. 2010. |
条目包含的文件 | ||||||
文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
2010524161581Nota_di(71KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
20105241615544NDL201(1306KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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