Effects of Tax Integration and Capital Gains Tax on Corporate Leverage

Craig T. Schulman, Deborah W. Thomas, Keith F. Sellers and Duane B. Kennedy

National Tax Journal, 1996, vol. 49, issue 1, 31-54

Abstract: Results of a study of the effects of corporate tax integration on corporate capital structure decisions, based on integration reform in Canada and New Zealand. Shows that integration reduces corporate debt-to-equity rations--but that this effect is sensitive to changes in tax rates, particularly taxes on gains realized through stock appreciation.

Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:ntj:journl:v:49:y:1996:i:1:p:31-54

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