haku: @indexterm Dividend policy / yhteensä: 136
viite: 28 / 136
| Tekijä: | Holland, S. Steiner, P. |
| Otsikko: | Zum Einfluss des Solidaritätszuschlags auf die Kapitalstruktur deutscher Kapitalgesellschaften. |
| Lehti: | Journal für Betriebswirtschaft
1996 : VOL: 46:2, p. 67-75 |
| Asiasana: | CAPITAL STRUCTURE OF COMPANIES COMPANY TAXATION DIVIDEND POLICY GERMANY |
| Kieli: | ger |
| Tiivistelmä: | The Impact of the "Solidaritätszuschlag" on the Capital Structure of German Corporations. This paper examines the impact of a decrease in the corporate tax rate and the introduction of a "Solidaritätszuschlag". The "Solidaritätszuschlag" is an extra tax proportional to the corporate and income tax. The decrease in the corporate tax rate leads to an increase of that clientele prefering retained earnings. But paying dividends remains suboptimal. Analyzing the capital structure we find out that a Miller-Equilibrium is attainable more easily because of the changed and new tax rates. This effect is even stronger for reduced trade tax rates. |
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