Taxation, Bank Leverage, and Financial Crises - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Taxation, Bank Leverage, and Financial Crises write by Ruud A. de Mooij. This book was released on 2013-02-25. Taxation, Bank Leverage, and Financial Crises available in PDF, EPUB and Kindle. That most corporate tax systems favor debt over equity finance is now widely recognized as, potentially, amplifying risks to financial stability. This paper makes a first attempt to explore, empirically, the link between this tax bias and the probability of financial crisis. It finds that greater tax bias is associated with significantly higher aggregate bank leverage, and that this in turn is associated with a significantly greater chance of crisis. The implication is that tax bias makes crises much more likely, and, conversely, that the welfare gains from policies to alleviate it can be substantial—far greater than previous studies, which have ignored financial stability considerations, suggest.
Taxation and Leverage in International Banking
Taxation and Leverage in International Banking - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Taxation and Leverage in International Banking write by Ms.Grace Weishi Gu. This book was released on 2012-11-30. Taxation and Leverage in International Banking available in PDF, EPUB and Kindle. This paper explores how corporate taxes affect the financial structure of multinational banks. Guided by a simple theory of optimal capital structure it tests (i) whether corporate taxes induce subsidiary banks to raise their debt-asset ratio in light of the traditional debt bias; and (ii) whether international corporate tax differentials vis-a-vis foreign subsidiary banks affect the intra-bank capital structure through international debt shifting. Using a novel subsidiary-level dataset for 558 commercial bank subsidiaries of the 86 largest multinational banks in the world, we find that taxes matter significantly, through both the traditional debt bias channel and the international debt shifting that is due to the international tax differentials. The latter channel is more robust and tends to be quantitatively more important. Our results imply that taxation causes significant international debt spillovers through multinational banks, which has potentially important implications for tax policy.
Taxation and the Financial Crisis
Taxation and the Financial Crisis - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Taxation and the Financial Crisis write by Julian S. Alworth. This book was released on 2012-02-23. Taxation and the Financial Crisis available in PDF, EPUB and Kindle. This book examines how tax policies contributed to the financial crisis; whether taxation can play a role in the reform efforts to establish a sounder and safer financial system; and the pros and cons of various tax initiatives.
Debt Bias in Corporate Taxation and the Costs of Banking Crises in the EU
Debt Bias in Corporate Taxation and the Costs of Banking Crises in the EU - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Debt Bias in Corporate Taxation and the Costs of Banking Crises in the EU write by Sven Langedijk. This book was released on 2014. Debt Bias in Corporate Taxation and the Costs of Banking Crises in the EU available in PDF, EPUB and Kindle.
Taxing Banks Fairly
Taxing Banks Fairly - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Taxing Banks Fairly write by Sajid M. Chaudhry. This book was released on 2014-10-31. Taxing Banks Fairly available in PDF, EPUB and Kindle. Taxing Banks Fairly offers an ethical perspective on bank taxation and financial stability to complement the traditional political economy approach. It also considers how a bank levy or financial activities tax, could be used to ensure that big banks m
