Corporate hedging under personal and corporate taxation

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...

Bibliografske podrobnosti
Main Authors:	Noe, T, Kale, J
Format:	Journal article
Izdano:	1990

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