Leverage, uncertainty and investment decisions
2020
Kenc, Turalay | Driver, Ciaran
We explore the role of taxes on stimulating investment decisions for levered firms under cash flows and investment costs uncertainty using the adjusted present value-based real options approach developed by Myers and Read (2019). We extend their work to consider combined tax credits and uncertain investment costs. We then run a numerical analysis to quantify the impact of uncertainty, corporate tax and investment tax credit in stimulating investments.
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书目信息
Economics letters
卷
190
页码
109052
ISSN
0165-1765
出版者
Elsevier B.V.
其它主题
Tax incentives; Irreversible investment; G31; Tax credit; G32; Leverage
语言
英语
类型
Journal Article; Text
2024-02-28
MODS