Taxes Depress Corporate Borrowing: Evidence from Private Firms.

We use variation in state corporate income tax rates to re-examine the relation between taxes and corporate leverage. Contrary to prior research, corporate leverage rises after tax cuts for small private firms. An estimated dynamic equilibrium model shows that tax cuts make capital more productive a...

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Detalles Bibliográficos

Publicado en:	Review of Economic Studies Vol. 93; no. 4; pp. 2715 - 2750
Autores principales:	Ivanov, Ivan T, Pettit, Luke, Whited, Toni M
Formato:	Artículo
Publicado:	Oxford University Press / USA Jul2026
Materias:	Tax cuts Financial leverage Private companies Corporate taxes Corporate debt financing Capital productivity Credit spread Tax deductions
Acceso en línea:	Ver este registro en EBSCOhost