Taxation and Capital Structure: Evidence from Russian Companies

Elena Makeeva and Tatiana Kozenkova

Asian Journal of Economics and Empirical Research, 2015, vol. 2, issue 1, 39-46

Abstract: This paper presents a study of the impact of taxation on the capital structure of Russian companies, based on the Graham model. The study revealed that it is more appropriate to include the effective tax rate in the model, rather than use the marginal tax rate since it is more applicable for the Russian companies.

Keywords: Taxation; Capital structure; Russian companies; Bankruptcy probability; Effective tax rate; Debt. (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:aoj:ajeaer:v:2:y:2015:i:1:p:39-46:id:197

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