Do taxes affect corporate debt policy? Evidence from U.S. corporate tax return data

Journal of Public Economics

Volumn 82, Issue 2, 2001, Pages 195-224

  Gordon, Roger H ^a   Lee, Young ^b  

^a UNIVERSITY OF MICHIGAN   (United States)

^b Korea Development Institute   (South Korea)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0041849687     PISSN: 00472727     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0047-2727(00)00151-1     Document Type: Article

References (24)

1. Auerbach A.J. Real determinants of corporate leverage. Friedman B.M. Corporate Capital Structures in the United States. 1985;University of Chicago Press, Chicago.
2. Bernheim B.D. Tax policy and the dividend puzzle. Rand Journal of Economics. 22:1991;455-476.
3. Bradley M., Jarrell G., Kim E.H. On the existence of an optimal capital structure: theory and evidence. Journal of Finance. 39:1984;857-878.
4. Constantinides G. Capital market equilibrium with personal tax. Econometrica. 51:1983;611-636.
5. Feldstein M., Dicks-Mireaux L., Poterba J. The effective tax rate and the pretax rate of return. Journal of Public Economics. 21:1983;129-158.
6. Givoly D., Hayn C., Ofer A.R., Sarig O. Taxes and capital structure: evidence from firms' response to the Tax Reform Act of 1986. Review of Financial Studies. 5:1992;331-355.
7. Gordon R.H. Interest rates, inflation, and corporate financial policy. Brookings Papers on Economic Activity. 2:1982;461-491.
8. Gordon R.H. Taxation of corporate capital income: Tax revenues versus tax distortions. Quarterly Journal of Economics. 10:(1):1985;1-27.
9. Gordon R.H., Bradford D.F. Taxation and the stock market valuation of capital gains and dividends. Theory and empirical results. Journal of Public Economics. 14:(2):1980;109-136.
10. Gordon R.H., MacKie-Mason J.K. Effects of the tax reform act of 1986 on corporate financial policy and organizational form. Slemrod J. Do Taxes Matter. 1990;MIT Press, Cambridge.
11. Gordon R.H., MacKie-Mason J.K. Tax distortions to the choice of organizational form. Journal of Public Economics. 55:1994;279-306.
12. Graham J.R. Debt and the marginal tax rate. Journal of Financial Economics. 41:1996;41-73.
13. Graham J.R., Lemmon M.L., Schallheim J.S. Debt, leases, taxes, and the endogeneity of corporate tax status. Journal of Finance. 53:1998;131-162.
14. Graham J.R. Do personal taxes affect corporate financing decisions? Journal of Public Economics. 73:1999;147-185.
15. Gropp, R.E., 1997. The Effect of Expected Effective Corporate Tax Rates on Incremental Financing Decisions. IMF Working Paper, No. 46.
16. MacKie-Mason J.K., Gordon R.H. How much do taxes discourage incorporation? Journal of Finance. 52:1997;477-505.
17. MacKie-Mason J.K. Do taxes affect corporate financing decisions? Journal of Finance. 45:1990;1471-1493.
18. Modigliani F., Miller M.H. Corporate income taxes and the cost of capital: a correction. American Economic Review. 53:1963;433-443.
19. Myers S.C. The capital structure puzzle. Journal of Finance. 39:1984;575-592.
20. Rajan R., Zingales L. What do we know about capital structure? Some evidence from international data. Journal of Finance. 50:1995;1421-1460.
21. Sommerfeld R.M. Federal Taxes and Management Decisions. 1981;Richard D. Irwin, Inc, Homewood, IL.
22. Taggart R.A. Jr. Secular patterns in the financing of U.S. corporations. Friedman B.M. Corporate Capital Structures in the United States. 1985;University of Chicago Press, Chicago.
23. United States Internal Revenue Service, various issues. Statistics of Income: Individual Income Tax Returns. U.S. Government Printing Office, Washington, D.C.
24. United States Internal Revenue Service, various issues. Statistics of Income: Corporate Income Tax Returns. U.S. Government Printing Office, Washington, D.C.