As Certain as Debt and Taxes: Estimating the Tax Sensitivity of Leverage from State Tax Changes
By Florian Heider, Alexander P. Ljungqvist. 2015
127 citations recorded by the source corpus.
Subfields: Accounting
View Paper: https://www.semanticscholar.org/paper/525ce41d17d62b38f99b1d4cd5d4e9ec71aa9fdd
Citations in the corpus
- East, West, Home's Best: Do Local CEOs Behave Less Myopically? (2019, unknown): “, observation year) headquarters location, we follow Heider and Ljungqvist (2015) and use firms’ historical headquarters states.”
- Tax Rates and Corporate Decision Making (2017, unknown): “Consistent with this theory, prior research finds that the MTR is correlated with firms’ capital structure decisions (e.g., Graham, 1996a; Heider and Ljungqvist, 2015).”
- The Bright Side of Political Uncertainty: The Case of R&D (2015, unknown): “Heider and Ljungqvist (2015) identify that only 4% of firms’ headquarter states are misrecorded in Compustat for fiscal year 2011. In the robustness tests, we show that our results are robust to using an alternative measure of firm’s headquarter state location based on Garcia and Norli (2012)’s data”
- Endogeneity in Accounting and Finance Research: Natural Experiments as a State-of-the-Art Solution (2015, unknown): “Heider and Ljungqvist (2014) use firms in neighbouring states not affected by tax changes, for example, firms in North Carolina affected by a tax rise are compared to firms in the same industry in the neighbouring state 162 © 2015 Accounting Foundation, The University of Sydney of South Carolina.”
- Trade Credit, Risk Sharing, and Inventory Financing Portfolios (2017, unknown): “This assumption captures the various financing difficulties that retailers face (Gaur et al. 2014, Heider and Ljungqvist 2015, Milliot 2010).”
- Collateral, Taxes, and Leverage (2016, unknown): “…does affect capital structure.9 In addition, our results appear to be at odds with the very 9 large effects of taxation on capital structure found in Heider and Ljungqvist (2015), although the 10 model could rationalize these effects if unobservable effective tax rates for most companies were 11…”
- Sharing Risk with the Government: How Taxes Affect Corporate Risk Taking (2017, unknown): “As in Heider and Ljungqvist (2015), an important caveat concerns the external validity of our”