摘要
本文以资本结构的税收效应为研究主线,从MM定理出发,对其无税的假设条件不断进行扩展,在前人研究的基础上,结合我国的税收制度与上市公司的财务数据,从理论和实证的角度分别探讨了我国上市公司资本结构的税收效应,并对某些具体行业如何更充分的利用税收效应给出了相应的建议。
Based on the MM theorem, this paper takes the tax effect of capital structure decision as the master clew and extends the hypothesis that there is not tax at all step by step. The paper integrate the tax system in China with the finaneial data in the annals of listed eorporations to investigate the tax effect of capital structure decision of public listed corporations in China from theory and empirical aspect respectivly. According to the above analyses, the paper gives some corresponding suggestions about how to benefit from the tax effect of capital structure more sufficiently to certain concrete Industries.
出处
《北方经贸》
2005年第8期116-118,共3页
Northern Economy and Trade
关键词
资本结构
税收效应
负债能力系数
capital structure
tax effect
indebted ability factor
