Pouring Oil on Fire Interest Deductibility and Corporate Debt is popular PDF and ePub book, written by Pietro Dallari in 2018-12-07, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Pouring Oil on Fire Interest Deductibility and Corporate Debt can be Read Online from any device for your convenience.
Pouring Oil on Fire Interest Deductibility and Corporate Debt Book PDF Summary
This paper investigates the role of tax incentives towards debt finance in the buildup of leverage in the nonfinancial corporate (NFC) sector, using a large firm-level dataset. We find that so-called debt bias is a significant driver of leverage, for both small and medium-sized enterprises and larger firms, with its effect accounting for about a quarter of leverage. The strength of this effect differs with firm size, the availability of collateral, income and income volatility, cash flow, and capital intensity. We conclude that leveling the playing field between debt and equity finance through tax policy reform would decrease NFC leverage, reducing economic risks posited by leverage.
Detail Book of Pouring Oil on Fire Interest Deductibility and Corporate Debt PDF
- Author : Pietro Dallari
- Release : 07 December 2018
- Publisher : International Monetary Fund
- ISBN : 9781484389102
- Genre : Business & Economics
- Total Page : 42 pages
- Language : English
- PDF File Size : 18,5 Mb
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