Progressive taxation and corporate liquidation: Analysis and policy implications

Journal of Policy Modeling

Volumn 31, Issue 1, 2009, Pages 144-154

  Agliardi, Elettra ^a,b   Agliardi, Rossella ^a  

^a UNIVERSITY OF BOLOGNA   (Italy)

^b RCEA ^*  (Italy)

Author keywords

Corporate debt; Default risk; Progressive tax; Real options

Indexed keywords

EID: 57649184373     PISSN: 01618938     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jpolmod.2008.04.011     Document Type: Article

References (22)

1. Agliardi E. Taxation and investment decisions: a real option approach. Australian Economic Papers 40 (2001) 44-55
2. Agliardi E., and Agliardi R. Progressive taxation and corporate liquidation policy. Economic Modelling 25 (2008) 532-541
3. Auerbach A.J. Taxation and corporate financial policy. In: Auerbach A., and Feldstein M. (Eds). Handbook of Public Economics vol. 3 (2002), North-Holland, Amsterdam 1251-1292
4. Bettendorf L. Investment promoting policies in the presence of international interactions. Journal of Policy Modelling 20 (1998) 715-740
5. De Angelo H., and Masulis R.W. Optimal capital structure under corporate and personal taxation. Journal of Financial Economics 8 (1980) 3-29
6. Dixit A.K., and Pindyck R.S. Investment Under Uncertainty (1994), Princeton U.P., Princeton, NJ
7. In: Eckbo B.E. (Ed). Handbook of Corporate Finance (2004), Elsevier North-Holland, Amsterdam
8. Fischer E.O., Heinkel R., and Zechner J. Dynamic capital structure choice: theory and tests. Journal of Finance 44 (1989) 19-40
9. Goldstein R., Ju N., and Leland H. An EBIT-based model of dynamic capital structure. Journal of Business 74 (2001) 483-512
10. Graham J.R. Debt and the marginal rate. Journal of Financial Economics 41 (1996) 41-73
11. Graham J.R. How big are the tax advantages to debt?. Journal of Finance 55 (2000) 1901-1942
12. Graham J.R. Taxes and corporate finance: a review. Review of Financial Studies 16 (2003) 1075-1129
13. Grecu A. Flat Tax: The British Case (2004), Adam Smith Institute, London
14. Guedes J., and Opler T. The determinants of the maturity of corporate debt issues. Journal of Finance 51 (1996) 1809-1833
15. Ivanova A., Keen M., and Klemm A. Russia's "Flat Tax". Economic Policy (2005) 397-444
16. Jensen M.C., and Meckling W. Theory of the firm: managerial behaviour, agency costs and ownership structure. Journal of Financial Economics 7 (1976) 305-360
17. Leland H.E. Corporate debt value, bond covenants, and optimal capital structure. Journal of Finance 49 (1994) 1213-1252
18. Lewis C.M. A multiperiod theory of corporate financial policy under taxation. Journal of Financial and Quantitative Analysis 25 (1990) 25-43
19. Modigliani F., and Miller M.H. Corporate income taxes and the cost of capital: a correction. American Economic Review 53 (1963) 433-444
20. Myers S.C. Determinants of corporate borrowing. Journal of Financial Economics 5 (1977) 147-176
21. Niemann R., and Sureth C. Tax neutrality under irreversibility and risk aversion. Economics Letters 84 (2004) 43-47
22. In: Sørensen P. (Ed). Tax Policy in the Nordic Countries (1998), Macmillan, London