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

页码：79 / 81

页数：3

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