Tax accounting principles and corporate risk-taking

被引：2
|
作者：
Becker, Johannes [1 ]
Steinhoff, Melanie [1 ]
机构：
[1] Univ Munster, Inst Publ Econ, D-48143 Munster, Germany
来源：
ECONOMICS LETTERS | 2014年 / 125卷 / 01期
关键词：
Accounting principles; Risk-taking; Business taxation; Corporate investment; TO-MARKET; DECISIONS;
D O I：
10.1016/j.econlet.2014.08.013
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We analyze the role of business taxation for corporate risk-taking under different accounting principles (such as mark-to-market, lower-of-cost-or-market and historical cost). We demonstrate that conservative accounting may imply incentives to overinvest in risky assets. However, with imperfect loss offsets, the mark-to-market principle penalizes risky investment whereas more conservative accounting leaves the risk choice unaffected. (C) 2014 Elsevier B.V. All rights reserved.
引用
收藏
页码：79 / 81
页数：3
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