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Leasing, Steuern und Intermediäre

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  • Gerhard Satzger

    (Universität Augsburg)

Abstract

Summary Leasing companies are acting as intermediaries between manufacturers of investment goods and their customers. The article tries to explain their existence based on fiscal and financial reasons and develops design patterns in particular for crossborder transactions that will increasingly be vital to the competitiveness of suppliers in global markets. In contrast to widespread beliefs in business practice, it can be shown, e. g., that the deployment of financial intermediaries in high-tax countries or the use of leasing contracts without a financing function may be advisable.

Suggested Citation

  • Gerhard Satzger, 1999. "Leasing, Steuern und Intermediäre," Schmalenbach Journal of Business Research, Springer, vol. 51(4), pages 325-349, April.
    • Handle: RePEc:spr:sjobre:v:51:y:1999:i:4:d:10.1007_bf03371569
    DOI: 10.1007/BF03371569
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    References listed on IDEAS

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    1. Miller, Merton H & Upton, Charles W, 1976. "Leasing, Buying, and the Cost of Capital Services," Journal of Finance, American Finance Association, vol. 31(3), pages 761-786, June.
    2. Heaton, Hal, 1986. "Corporate Taxation and Leasing," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 21(3), pages 351-359, September.
    3. Franks, Julian R & Hodges, Stewart D, 1987. "Lease Valuation When Taxable Earnings Are a Scarce Resource," Journal of Finance, American Finance Association, vol. 42(4), pages 987-1005, September.
    4. Smith, Clifford W, Jr & Wakeman, L MacDonald, 1985. "Determinants of Corporate Leasing Policy," Journal of Finance, American Finance Association, vol. 40(3), pages 895-908, July.
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