Corporate tax incentives and capital structure: New evidence from UK firm-level tax returns
We investigate how companies’ capital structure is affected by corporate income taxes using confidential company-level tax returns for a large sample of UK firms. Exploiting variation in companies’ marginal tax rates, we find a positive and substantial long-run tax effect on leverage. Leverage respo...
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| Format: | Journal article |
| Published: |
Elsevier
2017
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