The influence of firms' financial policy on tax reform

被引：1
|
作者：
Hutton, JP [1 ]
Kenc, T
机构：
[1] Univ York, Dept Econ & Related Studies, York Y010 5DD, N Yorkshire, England
[2] Univ London, Birkbeck Coll, London WC1H 0PP, England
来源：
OXFORD ECONOMIC PAPERS-NEW SERIES | 1998年 / 50卷 / 04期
关键词：
D O I：
10.1093/oep/50.4.663
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The effectiveness of proposed reforms to the tax system intended to stimulate investment depends on how capital structure affects corporate behaviour. A dynamic general equilibrium model, calibrated for the UK, is used to investigate the difference between three models of financial structure, including one of endogenous structure motivated by agency theory. It is shown that the difference in predicted effects can be significant, and that the impact of the reform on the marginal source of funds is crucial.
引用
收藏
页码：663 / 684
页数：22
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