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...
| Egile Nagusiak: | , |
|---|---|
| Formatua: | Journal article |
| Argitaratua: |
1990
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