Tax exhaustion, firm investment, and leasing; a test of the Q model of investment
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Hayashi, Fumio, 1985. "Corporate finance side of the Q theory of investment," Journal of Public Economics, Elsevier, vol. 27(3), pages 261-280, August.
- Cordes, Joseph J & Sheffrin, Steven M, 1983. "Estimating the Tax Advantage of Corporate Debt," Journal of Finance, American Finance Association, vol. 38(1), pages 95-105, March.
- Alan J. Auerbach & James M. Poterba, 1987.
"Tax-Loss Carryforwards and Corporate Tax Incentives,"
NBER Chapters, in: Taxes and Capital Formation, pages 89-92,
National Bureau of Economic Research, Inc.
- Alan J. Auerbach & James M. Poterba, 1987. "Tax Loss Carryforwards and Corporate Tax Incentives," NBER Chapters, in: The Effects of Taxation on Capital Accumulation, pages 305-342, National Bureau of Economic Research, Inc.
- Alan J. Auerbach & James M. Poterba, 1986. "Tax Loss Carryforwards and Corporate Tax Incentives," NBER Working Papers 1863, National Bureau of Economic Research, Inc.
- Alan J. Auerbach & James M. Poterba, 1986. "Tax Loss Carryforwards and Corporate Tax Incentives," Working papers 413, Massachusetts Institute of Technology (MIT), Department of Economics.
- Alan J. Auerbach, 1986.
"The Dynamic Effects of Tax Law Asymmetries,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 53(2), pages 205-225.
- Alan J. Auerbach, 1983. "The Dynamic Effects of Tax Law Asymmetries," NBER Working Papers 1152, National Bureau of Economic Research, Inc.
- Yolanda K. Henderson & Jeffrey B. Liebman, 1992. "Capital costs, industrial mix, and the composition of business investment," New England Economic Review, Federal Reserve Bank of Boston, issue Jan, pages 67-92.
- Edwards, J. S. S. & Mayer, C. P., 1991. "Leasing, taxes, and the cost of capital," Journal of Public Economics, Elsevier, vol. 44(2), pages 173-197, March.
- Rosanne Altshuler & Alan J. Auerbach, 1990.
"The Significance of Tax Law Asymmetries: An Empirical Investigation,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 105(1), pages 61-86.
- Rosanne Altshuler & Alan J. Auerbach, 1987. "The Significance of Tax Law Asymmetries: An Empirical Investigation," NBER Working Papers 2279, National Bureau of Economic Research, Inc.
- Poterba, James M. & Summers, Lawrence H., 1983.
"Dividend taxes, corporate investment, and `Q',"
Journal of Public Economics, Elsevier, vol. 22(2), pages 135-167, November.
- James M. Poterba & Lawrence H. Summers, 1981. "Dividend Taxes, Corporate Investment, and "Q"," NBER Working Papers 0829, National Bureau of Economic Research, Inc.
- Tobin, James, 1969. "A General Equilibrium Approach to Monetary Theory," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 1(1), pages 15-29, February.
- Devereux, Michael P. & Keen, Michael & Schiantarelli, Fabio, 1994.
"Corporation tax asymmetries and investment : Evidence from U.K. panel data,"
Journal of Public Economics, Elsevier, vol. 53(3), pages 395-418, March.
- Michael Devereux, 1991. "Corporation Tax Asymmetries and Investment: Evidence from UK Panel Data," Working Paper 820, Economics Department, Queen's University.
- Chirinko, Robert S., 1987.
"Tobin's Q and financial policy,"
Journal of Monetary Economics, Elsevier, vol. 19(1), pages 69-87, January.
- Robert S. Chirinko, 1986. "Tobin's Q and Financial Policy," NBER Working Papers 2082, National Bureau of Economic Research, Inc.
- Devereux, Michael P, 1989. "Tax Asymmetries, the Cost of Capital and Investment: Some Evidence from United Kingdom Panel Data," Economic Journal, Royal Economic Society, vol. 99(395), pages 103-112, Supplemen.
- Hayashi, Fumio & Inoue, Tohru, 1991.
"The Relation between Firm Growth and Q with Multiple Capital Goods: Theory and Evidence from Panel Data on Japanese Firms,"
Econometrica, Econometric Society, vol. 59(3), pages 731-753, May.
- Fumio Hayashi & Tohru Inoue, 1990. "The Relation Between Firm Growth and Q with Multiple Capital Goods: Theory and Evidence from Panel Data on Japanese Firms," NBER Working Papers 3326, National Bureau of Economic Research, Inc.
- Hayashi, Fumio, 1982.
"Tobin's Marginal q and Average q: A Neoclassical Interpretation,"
Econometrica, Econometric Society, vol. 50(1), pages 213-224, January.
- Fumio Hayashi, 1981. "Tobin's Marginal q and Average a : A Neoclassical Interpretation," Discussion Papers 457, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Lawrence H. Summers, 1981. "Taxation and Corporate Investment: A q-Theory Approach," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 12(1), pages 67-140.
- J. S. S. Edwards & M. J. Keen, 1985. "Taxes, Investment and Q," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 52(4), pages 665-679.
- Manuel Arellano & Stephen Bond, 1991.
"Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(2), pages 277-297.
- Tom Doan, "undated". "RATS program to replicate Arellano-Bond 1991 dynamic panel," Statistical Software Components RTZ00169, Boston College Department of Economics.
- Colin Mayer, 1986. "Corporation Tax, Finance and the Cost of Capital," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 53(1), pages 93-112.
- Devereux, Michael P. & Keen, Michael & Schiantarelli, Fabio, 1994.
"Corporation tax asymmetries and investment : Evidence from U.K. panel data,"
Journal of Public Economics,
Elsevier, vol. 53(3), pages 395-418, March.
- Michael Devereux, 1991. "Corporation Tax Asymmetries and Investment: Evidence from UK Panel Data," Working Papers 820, Queen's University, Department of Economics.
- Devereux, Michael, 1991. "Corporation Tax Asymmetries and Investment: Evidence from UK Panel Data," Queen's Economics Department Working Papers 273218, Queen's University - Department of Economics.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Michael P. O'Malley, "undated". "Tax Exhaustion, Firm Investment, and Leasing: A Test of the Q Model of Investment," Finance and Economics Discussion Series 1996-31, Board of Governors of the Federal Reserve System (U.S.), revised 10 Dec 2019.
- Jack Mintz, 1995. "Corporation tax: a survey," Fiscal Studies, Institute for Fiscal Studies, vol. 16(4), pages 23-68, November.
- Cummins, Jason G. & Hassett, Kevin A. & Hubbard, R. Glenn, 1996.
"Tax reforms and investment: A cross-country comparison,"
Journal of Public Economics, Elsevier, vol. 62(1-2), pages 237-273, October.
- Jason G. Cummins & Kevin A. Hassett & R. Glenn Hubbard, 1995. "Tax Reforms and Investment: A Cross-Country Comparison," NBER Working Papers 5232, National Bureau of Economic Research, Inc.
- Cummins, J.G. & Hassett, K.A. & Hubbard, R.G., 1995. "tax Reforms and Investment: A Cross-Country Comparison," Working Papers 95-28, C.V. Starr Center for Applied Economics, New York University.
- Edgerton, Jesse, 2010. "Investment incentives and corporate tax asymmetries," Journal of Public Economics, Elsevier, vol. 94(11-12), pages 936-952, December.
- O’Connor, Matthew & Rafferty, Matthew & Sheikh, Aamer, 2013. "Equity compensation and the sensitivity of research and development to financial market frictions," Journal of Banking & Finance, Elsevier, vol. 37(7), pages 2510-2519.
- Masanori Orihara, 2016. "Corporate tax asymmetries and R&D: Evidence from a tax reform for business groups in Japan," Discussion papers ron273, Policy Research Institute, Ministry of Finance Japan.
- Richard W. Kopcke, 1992. "Tobin's Q, economic rents, and the optimal stock of capital," Working Papers 92-3, Federal Reserve Bank of Boston.
- Michael Devereux & Fabio Schiantarelli, 1990.
"Investment, Financial Factors, and Cash Flow: Evidence from U.K. Panel Data,"
NBER Chapters, in: Asymmetric Information, Corporate Finance, and Investment, pages 279-306,
National Bureau of Economic Research, Inc.
- Michael Devereux & Fabio Schiantarelli, 1989. "Investment, Finacial Factors and Cash Flow: Evidence From UK Panel Data," NBER Working Papers 3116, National Bureau of Economic Research, Inc.
- Ahmed, S., 2004. "Modelling corporate tax liabilities using company accounts: a new framework," Cambridge Working Papers in Economics 0412, Faculty of Economics, University of Cambridge.
- Laeven, Luc, 2000. "Does financial liberalization relax financing constraints on firms ?," Policy Research Working Paper Series 2467, The World Bank.
- Henriques, Irene & Sadorsky, Perry, 2011. "The effect of oil price volatility on strategic investment," Energy Economics, Elsevier, vol. 33(1), pages 79-87, January.
- Lewe, Stefan, 2003. "Wachstumseffiziente Unternehmensbesteuerung," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 20042, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
- Zee, Howell H. & Stotsky, Janet G. & Ley, Eduardo, 2002. "Tax Incentives for Business Investment: A Primer for Policy Makers in Developing Countries," World Development, Elsevier, vol. 30(9), pages 1497-1516, September.
- Richard W. Kopcke, 1995. "Tobin's Q, economic rents, and the optimal stock of capital," Working Papers 95-4, Federal Reserve Bank of Boston.
- Serhan Cevik & Fedor Miryugin, 2018.
"Does Taxation Stifle Corporate Investment? Firm‐Level Evidence from ASEAN Countries,"
Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 51(3), pages 351-367, September.
- Mr. Serhan Cevik & Fedor Miryugin, 2018. "Does Taxation Stifle Corporate Investment? Firm-Level Evidence from ASEAN Countries," IMF Working Papers 2018/034, International Monetary Fund.
- Jason G. Cummins & Kevin A. Hassett & R. Glenn Hubbard, 1995. "Have Tax Reforms Affected Investment?," NBER Chapters, in: Tax Policy and the Economy, Volume 9, pages 131-150, National Bureau of Economic Research, Inc.
- Chirinko, Robert S., 1987.
"Tobin's Q and financial policy,"
Journal of Monetary Economics, Elsevier, vol. 19(1), pages 69-87, January.
- Robert S. Chirinko, 1986. "Tobin's Q and Financial Policy," NBER Working Papers 2082, National Bureau of Economic Research, Inc.
- R. Glenn Hubbard, 1998.
"Capital-Market Imperfections and Investment,"
Journal of Economic Literature, American Economic Association, vol. 36(1), pages 193-225, March.
- R. Glenn Hubbard, 1997. "Capital-Market Imperfections and Investment," NBER Working Papers 5996, National Bureau of Economic Research, Inc.
- Jason G. Cummins & Kevin A. Hassett & Stephen D. Oliner, 2006.
"Investment Behavior, Observable Expectations, and Internal Funds,"
American Economic Review, American Economic Association, vol. 96(3), pages 796-810, June.
- Cummins, Jason & Hassett, Kevin & Oliner, Stephen, 1997. "Investment Behavior, Observable Expectations and Internal Funds," Working Papers 97-30, C.V. Starr Center for Applied Economics, New York University.
- Jason G. Cummins & Kevin A. Hassett & Stephen D. Oliner, 1999. "Investment behavior, observable expectations, and internal funds," Finance and Economics Discussion Series 1999-27, Board of Governors of the Federal Reserve System (U.S.).
- Jacques Mairesse & Benoît Mulkay, 2004. "Une evaluation du credit d’impot recherche en France, 1980-1997," Working Papers 2004-43, Center for Research in Economics and Statistics.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedgfe:96-31. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ryan Wolfslayer ; Keisha Fournillier (email available below). General contact details of provider: https://edirc.repec.org/data/frbgvus.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.