Arbeitspapier
Italy's ACE tax and its effect on a firm's leverage
This article describes the new ACE-type system implemented in Italy since 2012. We have first shown that this system reduces but does not eliminate the financial distortion due to interest deductibility. Using a dataset of Italian companies, we analyzed the impact of this relief on Italian firm capital structure. Despite the permanence of a tax advantage and its gradual implementation, the ACE relief is estimated to reduce significantly leverage. By decreasing default risk it is also expected to reduce systemic risk.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 3869
- Klassifikation
-
Wirtschaft
Business Taxes and Subsidies including sales and value-added (VAT)
Fiscal Policies and Behavior of Economic Agents: Firm
- Thema
-
ACE
business taxation
leverage
Unternehmensbesteuerung
Eigenkapital
Steuerbegünstigung
Kapitalstruktur
Italien
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Panteghini, Paolo
Parisi, Maria Laura
Pighetti, Francesca
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2012
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:46 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Panteghini, Paolo
- Parisi, Maria Laura
- Pighetti, Francesca
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2012
Ähnliche Objekte (12)
Italy's ACE tax and its effect on a firm's leverage
Italy's ACE tax and its effect on a firm's leverage
Macroeconomic Uncertainty and Firm Leverage
Macroeconomic Uncertainty and Firm Leverage
Firm leverage and investment during the cirsis
Leverage over the firm life cycle, firm growth, and aggregate fluctuations
Interbank market integration, loan rates, and firm leverage
Oil price collapse and firm leverage in resource-dependent countries
The Incidence of an Extended Ace Corporation Tax
The incidence of an extended ACE corporation tax
Ownership concentration, firm life cycle, and leverage: Evidence from Italian family firms
The impact of firm size on the relationship between leverage and firm performance: evidence from Saudi Arabia
Italy's ACE tax and its effect on a firm's leverage
Italy's ACE tax and its effect on a firm's leverage
Macroeconomic Uncertainty and Firm Leverage
Macroeconomic Uncertainty and Firm Leverage
Firm leverage and investment during the cirsis
Leverage over the firm life cycle, firm growth, and aggregate fluctuations
Interbank market integration, loan rates, and firm leverage
Oil price collapse and firm leverage in resource-dependent countries
The Incidence of an Extended Ace Corporation Tax
The incidence of an extended ACE corporation tax
Ownership concentration, firm life cycle, and leverage: Evidence from Italian family firms
The impact of firm size on the relationship between leverage and firm performance: evidence from Saudi Arabia
Italy's ACE tax and its effect on a firm's leverage
Italy's ACE tax and its effect on a firm's leverage
Macroeconomic Uncertainty and Firm Leverage
Macroeconomic Uncertainty and Firm Leverage
Firm leverage and investment during the cirsis
Leverage over the firm life cycle, firm growth, and aggregate fluctuations
Interbank market integration, loan rates, and firm leverage
Oil price collapse and firm leverage in resource-dependent countries
The Incidence of an Extended Ace Corporation Tax
The incidence of an extended ACE corporation tax
Ownership concentration, firm life cycle, and leverage: Evidence from Italian family firms