Privatization, restructuring and FDI in transition economies: Are bad debts a problem?
Axel Brüggemann
IWH Discussion Papers,
No. 78,
1998
Abstract
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The Effect of Expected Effective Corporate Tax Rates on Incremental Financing Decisions
Reint E. Gropp
IMF Staff Papers,
No. 4,
1997
Abstract
This paper uses U.S. panel data to estimate the effect of expected effective corporate tax rates on the amount of debt issued by firms. The paper directly estimates expected corporate tax rates using rational expectations. The estimated measures of expected effective tax rates of firms are related to a continuous measure of incremental debt financing. The paper finds that expected effective tax rates are significantly and positively related to a higher level of debt financing. Simulations suggest that debt issues would double if firms were unable to shield profits and actually faced the statutory tax rate.
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Current account deficit, public debt and direct investment in reform countries
Thomas Meißner
Wirtschaft im Wandel,
No. 9,
1995
Abstract
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