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DC Field | Value | Language |
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dc.contributor.author | Andrikopoulos, Andreas | - |
dc.date.accessioned | 2018-06-13T12:52:16Z | - |
dc.date.available | 2018-06-13T12:52:16Z | - |
dc.date.issued | 2012 | - |
dc.identifier.citation | Andrikopoulos, A. (2012). The capital structure choice and the consumption tax. European Research Studies Journal, 15(1), 3-22. | en_GB |
dc.identifier.uri | https://www.um.edu.mt/library/oar//handle/123456789/30991 | - |
dc.description.abstract | The consumption tax affects the consumer, but also affects the wealth of the producer because of the tax incidence effect. It affects cash flows from corporate investment, bears influence on capital budgeting choices on investment timing and financing and the respective agency conflicts between shareholders and creditors. In the context of irreversible investment, our model shows that consumption taxation delays investment and precipitates default. Furthermore, we find that the consumption tax has a negative effect on the agency costs of debt, the yield spreads and the optimal leverage ratio. Finally, the model also produces implications for governmental tax policy. | en_GB |
dc.language.iso | en | en_GB |
dc.publisher | University of Piraeus. International Strategic Management Association | en_GB |
dc.rights | info:eu-repo/semantics/openAccess | en_GB |
dc.subject | Spendings tax | en_GB |
dc.subject | Tax incidence | en_GB |
dc.subject | Financial leverage | en_GB |
dc.subject | Fiscal policy | en_GB |
dc.subject | Taxation | en_GB |
dc.title | The capital structure choice and the consumption tax | en_GB |
dc.type | article | en_GB |
dc.rights.holder | The copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holder. | en_GB |
dc.description.reviewed | peer-reviewed | en_GB |
dc.publication.title | European Research Studies Journal | en_GB |
Appears in Collections: | European Research Studies Journal, Volume 15, Issue 1 |
Files in This Item:
File | Description | Size | Format | |
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ERSJ_15(1)_A1.pdf | 15.65 MB | Adobe PDF | View/Open |
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