Tax asymmetries, the cost of capital and investment
A measure of the cost of capital is developed that incorporates the dynamic effects of tax changes and tax asymmetries. Estimates of the cost of capital are made using an unbalanced panel of 1987 U.K. quoted companies over the period 1971 to 1984. There is wide cross-sectional variation in the cost...
| Main Author: | |
|---|---|
| Format: | Journal article |
| Published: |
1989
|