Arbeitspapier
Optimal investment and financial strategies under tax rate uncertainty
In this paper we apply a real-option model to study the effects of tax rate uncertainty on a firm's decisions. In doing so, we depart from the relevant literature, which focuses on fully equity-financed investment projects. By letting a representative firm borrow optimally, we show that debt finance not only encourages investment activities but can also substantially mitigate the effect of tax rate uncertainty on investment timing.
- Sprache
-
Englisch
- Erschienen in
-
Series: Nota di Lavoro ; No. 2010,68
- Klassifikation
-
Wirtschaft
- Thema
-
Capital Levy
Corporate Taxation
Default Risk
Real Options
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Fedele, Alessandro
Panteghini, Paolo M.
Vergalli, Sergio
- Ereignis
-
Veröffentlichung
- (wer)
-
Fondazione Eni Enrico Mattei (FEEM)
- (wo)
-
Milano
- (wann)
-
2010
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 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
- Fedele, Alessandro
- Panteghini, Paolo M.
- Vergalli, Sergio
- Fondazione Eni Enrico Mattei (FEEM)
Entstanden
- 2010
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