Tax Options and Corporate Capital Structures

Among the elements of value reflected in the prices of corporate securities are the taxtiming options associated with the opportunities for investors to tax manage their portfolios by deferring gains and taking losses. We show that the aggregate value of these taxtiming options for the securityholde...

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Veröffentlicht in:	Journal of financial and quantitative analysis 1988-12, Vol.23 (4), p.387-400
Hauptverfasser:	Lewellen, Wilbur G., Mauer, David C.
Format:	Artikel
Sprache:	eng
Schlagworte:	Business structures Capital gains Capital structure Debt Debt to equity ratio Equity Financial leverage Financial securities Gains Income taxes Investors Losses Market value Mathematical models Portfolio management Securities
Online-Zugang:	Volltext
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