haku: @indexterm Corporate finance / yhteensä: 722
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| Tekijä: | Ashton, D. J. |
| Otsikko: | Corporate financial policy : American analytics and UK taxation. |
| Lehti: | Journal of Business Finance and Accounting
1991 : JUN, VOL. 18:4, p. 465-482 |
| Asiasana: | CORPORATE FINANCE COMPANY TAXATION USA UNITED KINGDOM |
| Kieli: | eng |
| Tiivistelmä: | The role played by taxation in shaping the financial policy of the firm in the UK is re-examined. A general model of company valuation parameterized by corporate and personal tax rates is established. The conditions for irrelevancy of dividend policy with respect to taxation are explored. The impact of recent budget changes on personal taxation is reconsidered. It is argued that the UK system of taxation is largely neutral with respect to financial policy. New formulae are developed which replace the accepted USA-based formulae. |
SCIMA