Taxation and leverage in international banking /

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This paper explores how corporate taxes affect the financial structure of multinational banks. Guided by a simple theory of optimal capital structure it tests (i) whether corporate taxes induce subsidiary banks to raise their debt-asset ratio in light of the traditional debt bias; and (ii) whether i...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Gu, Grace (Autor), Mooij, Ruud A. de (Autor), Poghosyan, Tigran (Autor)
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, D.C.] : International Monetary Fund, ©2012.
Colección:IMF working paper ; WP/12/281.
Temas:
Taxation > Econometric models.
Financial leverage > Econometric models.
Effet de levier > Modèles économétriques.
BUSINESS & ECONOMICS > Public Finance.
Taxation > Econometric models
Acceso en línea:Texto completo
Tabla de Contenidos:
  • Cover; Contents; I. Introduction; II. Theoretical Model; III. Empirical Methodology and Data; A. Methodology; B. Data; IV. Results; A. Baseline Regressions; B. Robustness Checks; C. Extension: Capital Tightness; V. Conclusions; References; Technical Appendix; Figures; 1. Bank Leverage Histogram; Tables; 1. Variable Source and Construction; 2. Summary Statistics; 3. Correlations; 4. Number of Banks; 5. Average Financial Leverage and Tax Rates; 6. Baseline Estimation Results; 7. Robustness Check Estimation Results: Standard Errors; 8. Robustness Check Estimation Results: Alternatives.
  • 9. Robustness Check Estimation Results: Leverage Skewness and Tax Trend10. Robustness Check Estimation Results: Subsamples; 11. Estimation Results: Capital Tightness.

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