Cutting the dividends tax…and corporate governance too?
| العنوان: | Cutting the dividends tax…and corporate governance too? |
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| المؤلفون: | Michael J. Orlando, Dino Falaschetti |
| المصدر: | Corporate Ownership and Control. 3:31-34 |
| بيانات النشر: | Virtus Interpress, 2006. |
| سنة النشر: | 2006 |
| مصطلحات موضوعية: | Financial capital, Corporate governance, Capital (economics), Financial market, Dividend, Monetary economics, Business, Investment (macroeconomics), General Business, Management and Accounting, Dividend tax, Capital market |
| الوصف: | Economists tend to agree that the recent cutting of US dividends taxes will encourage investment and reduce financial distress. In addition to creating these “benefits,” however, the tax cut can also increase governance costs. For example, by removing a bias for leveraged capital structures, the tax cut foregoes debt’s superiority on at least three dimensions: 1. Evaluating and monitoring demanders of financial capital; 2. Constraining managerial agents’ from opportunistically employing capital market proceeds; and 3. Encouraging non-financial stakeholders (e.g., employees, suppliers) to make firm-specific investments. Moreover, because these privately produced services contribute to the integrity of broader financial markets (i.e., a public good), competitive forces may not fully counter the tax cut’s governance consequences. |
| تدمد: | 1810-3057 1727-9232 |
| DOI: | 10.22495/cocv3i2p4 |
| URL الوصول: | https://explore.openaire.eu/search/publication?articleId=doi_________::c70813d997c8bf11161e97ce0c7aab75 https://doi.org/10.22495/cocv3i2p4 |
| Rights: | OPEN |
| رقم الانضمام: | edsair.doi...........c70813d997c8bf11161e97ce0c7aab75 |
| قاعدة البيانات: | OpenAIRE |
| تدمد: | 18103057 17279232 |
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| DOI: | 10.22495/cocv3i2p4 |