Corporate hedging under personal and corporate taxation
Researchers have argued that financial distress costs and corporate tax shields can induce value-maximizing corporations to hedge their operating cash flows. We demonstrate that, for a fixed level of debt in the capital structure, the presence of personal income taxation and corporate non-debt tax s...
| Autores principales: | , |
|---|---|
| Formato: | Journal article |
| Publicado: |
1990
|