Arbeitspapier
Corporate financial policy and investor taxation in Austria: An empirical investigation
The paper analyzes the impact of in investor capital gains taxation on corporate leverage of Austrian corporations. We conduct our analyses for a unique sample of Austrian firms, including a large part of non-listed corporations. By means of regression analyses we show that the capital gains tax rate, the fraction of taxable investors of a corporation as well as the dividend payout ratio are significant determinants of the financing decisions of Austrian firms. Legal status, listing and corporate profitability also affect the debt ratio of corporations in Austria. Additionally we show that family-owned companies behave differently from other corporations, indicating the importance of research on family businesses. Sensitivity analyses accounting for different calculations of the effective tax rate on capital gains show that our obtained results are robust.
- Language
-
Englisch
- Bibliographic citation
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Series: arqus Discussion Paper ; No. 109
- Classification
-
Wirtschaft
- Subject
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Kapitalstruktur
Wertzuwachssteuer
Steuerbelastung
Finanzierung
Entscheidung
Schätzung
Österreich
- Event
-
Geistige Schöpfung
- (who)
-
Haring, Magdalena
Niemann, Rainer
- Event
-
Veröffentlichung
- (who)
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Arbeitskreis Quantitative Steuerlehre (arqus)
- (where)
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Berlin
- (when)
-
2010
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Haring, Magdalena
- Niemann, Rainer
- Arbeitskreis Quantitative Steuerlehre (arqus)
Time of origin
- 2010
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