haku: @author McDonald, R. L. / yhteensä: 4
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| Tekijä: | McDonald, R. L. |
| Otsikko: | The tax (dis)advantage of a firm issuing options on its own stock |
| Lehti: | Journal of Public Economics
2004 : APR, VOL. 88:5, p. 925-955 |
| Asiasana: | Company taxation Options Bonds |
| Kieli: | eng |
| Tiivistelmä: | This paper shows that option positions with implicit borrowing - such as put sales and call purchases - are tax-disadvantaged relative to the equivalent synthetic option with explicit borrowing. It also shows that firms are better off from a tax perspective issuing bifurcated convertible bonds - bonds plus warrants - rather than an otherwise equivalent standard convertible. |
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