Principles of Corporate Finance, 9th Edition by Allen Franklin & Richard A. Brealey & Stewart C. Myers

Author:Allen, Franklin & Richard A. Brealey & Stewart C. Myers [Allen, Franklin]
Language: eng
Format: mobi
Publisher: McGraw-Hill Higher Education -A
Published: 2007-10-08T16:00:00+00:00

28 A study by E. F. Fama and K. R. French, covering over 2,000 firms from 1965 to 1992, failed to find any evidence that interest tax shields contributed to firm value. See “Taxes, Financing Decisions and Firm Value,” Journal of Finance 53 (June 1998), pp. 819–843.

29We described the Australian imputation tax system in Section 17.8. Look again at Table 17.3, supposing that an Australian corporation pays $A10 of interest. This reduces the corporate tax by $A3.00; it also reduces the tax credit taken by the shareholders by $A3.00. The final tax does not depend on whether the corporation or the shareholder borrows.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.