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Debt and Taxes: Evidence from the Real Estate Industry
16 references·8 citing·31 second hop
Debt and Taxes: Evidence from the Real Estate Industry (2012)Debt and Taxes: Evidence from the Real Es…A review of tax research (2010)A review of tax researchThe cost of capital, corporation finance and the theory of investment (2008)The cost of capital, corporat…Testing Trade-Off and Pecking Order Predictions About Dividends and Debt (2002)Testing Trade-Off and Pecking…How Big Are the Tax Benefits of Debt? (2000)How Big Are the Tax Benefits …Agency costs of free cash flow, corporate finance, and takeovers (1996)Agency costs of free cash flo…The investment opportunity set and corporate financing, dividend, and compensation policies (1992)The investment opportunity se…The Determinants of Capital Structure Choice (1988)The Determinants of Capital S…Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency Costs of Free Cash Flo…The Capital Structure Puzzle (1984)The Capital Structure PuzzleThe Capital Structure Puzzle (1984)The Capital Structure PuzzleOn the Existence of an Optimal Capital Structure: Theory and Evidence (1984)On the Existence of an Optima…Optimal capital structure under corporate and personal taxation (1980)Optimal capital structure und…DEBT AND TAXES* (1977)DEBT AND TAXES*Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…CORPORATE INCOME TAXES AND THE COST OF CAPITAL: A CORRECTION (1963)CORPORATE INCOME TAXES AND TH…The Cost of Capital, Corporation Finance and the Theory of Investment (1958)The Cost of Capital, Corporat…Corporate Taxation and Firm-Specific Determinants of Capital Structure: Evidence from the UK and US Multinational Firms (2022)Corporate Taxation and Firm-S…Corporate Debt and Taxes (2022)Corporate Debt and TaxesCorporate tax aggressiveness and capital structure decisions: Evidence from China (2021)Corporate tax aggressiveness …On the Determinants of REIT Capital Structure: Evidence from around the World (2019)On the Determinants of REIT C…Boards of directors and firm leverage: Evidence from real estate investment trusts (2018)Boards of directors and firm …Financial Flexibility and Manager–Shareholder Conflict: Evidence from REITs (2017)Financial Flexibility and Man…Capital structure management differences in Latin American and US firms after 2008 crisis (2017)Capital structure management …The effects of the global financial crisis on the capital structure of EPRA/NAREIT Europe index companies (2015)The effects of the global fin…Determinants of corporate borrowing (1977)Corporate financing and investment decisions when firms have information that investors do not have (1984)Higher market valuation of companies with a small board of directors (1996)Corporate governance, chief executive officer compensation, and firm performance (1999)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The Cross-Section of Expected Stock Returns (1992)On Persistence in Mutual Fund Performance (1997)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Significance tests and goodness of fit in the analysis of covariance structures. (1980)Firms, Contracts, and Financial Structure (1995)DISTRIBUTION OF INCOMES OF CORPORATIONS AMONG DIVIDENDS, RETAINED EARNINGS AND TAXES (1956)The Pricing of Options and Corporate Liabilities (1973)Law and Finance (1998)GROWTH, BETA AND AGENCY COSTS AS DETERMINANTS OF DIVIDEND PAYOUT RATIOS (1982)Two Agency-Cost Explanations of Dividends (1984)Corporate performance and managerial remuneration (1985)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)What Do We Know about Capital Structure? Some Evidence from International Data (1995)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)The Theory of Capital Structure (1991)Common risk factors in the returns on stocks and bonds (1993)Market Timing and Capital Structure (2002)CEO Overconfidence and Corporate Investment (2005)Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches (2008)The theory and practice of corporate finance: evidence from the field (2001)ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES* (1974)A Survey of Corporate Governance (1997)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)
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References

  • 1986Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers17,216 cited
  • 1958The Cost of Capital, Corporation Finance and the Theory of Investment14,494 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1996Agency costs of free cash flow, corporate finance, and takeovers9,308 cited
  • 2008The cost of capital, corporation finance and the theory of investment8,614 cited
  • 1984The Capital Structure Puzzle7,520 cited
  • 1988The Determinants of Capital Structure Choice6,108 cited
  • 1963CORPORATE INCOME TAXES AND THE COST OF CAPITAL: A CORRECTION5,951 cited
  • 1992The investment opportunity set and corporate financing, dividend, and compensation policies3,591 cited
  • 2002Testing Trade-Off and Pecking Order Predictions About Dividends and Debt3,396 cited
  • 2010A review of tax research3,167 cited
  • 1984The Capital Structure Puzzle3,151 cited
  • 1980Optimal capital structure under corporate and personal taxation2,906 cited
  • 1977DEBT AND TAXES*2,896 cited
  • 1984On the Existence of an Optimal Capital Structure: Theory and Evidence2,477 cited
  • 2000

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How Big Are the Tax Benefits of Debt?
1,483 cited

Cited by

  • 2017Financial Flexibility and Manager–Shareholder Conflict: Evidence from REITs39 cited
  • 2022Corporate Taxation and Firm-Specific Determinants of Capital Structure: Evidence from the UK and US Multinational Firms39 cited
  • 2022Corporate Debt and Taxes32 cited
  • 2018Boards of directors and firm leverage: Evidence from real estate investment trusts32 cited
  • 2017Capital structure management differences in Latin American and US firms after 2008 crisis29 cited
  • 2021Corporate tax aggressiveness and capital structure decisions: Evidence from China28 cited
  • 2019On the Determinants of REIT Capital Structure: Evidence from around the World28 cited
  • 2015The effects of the global financial crisis on the capital structure of EPRA/NAREIT Europe index companies24 cited