Steuerreform und Unternehmensfinanzierung / Tax Reform and Corporate Finance

Wolfgang Eggert and Alfons Weichenrieder

Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), 2002, vol. 222, issue 5, 531-555

Abstract: This paper analyzes the change in tax preferences induced by the recent German corporate tax reform. The reform eliminates the imputation system and shifts the system towards a classical corporate tax system. However, financial preferences of corporations are largely unaffected if evaluated from the perspective of shareholders subject to the top marginal tax rate. A similar statement holds for the incentives to carry out share repurchases that in Germany have been allowed only recently. This paper argues that the much-discussed elimination of capital gains taxation for corporations abolishes a tax preference for new equity finance of affiliated corporations.

Keywords: Tax reform; corporate financial policy; capital gains tax; share repurchases; Steuerreform; Finanzierungspräferenzen; steuerliche Veräußerungsgewinne; Aktienrückkauf; Tax reform; corporate financial policy; capital gains tax; share repurchases (search for similar items in EconPapers)
Date: 2002
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
https://doi.org/10.1515/jbnst-2002-0503 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:jns:jbstat:v:222:y:2002:i:5:p:531-555

DOI: 10.1515/jbnst-2002-0503

Access Statistics for this article

Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik) is currently edited by Peter Winker

More articles in Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik) from De Gruyter
Bibliographic data for series maintained by Peter Golla ().