Costs of debt, tax benefits and a new measure of non-debt tax shields: examining debt conservatism in Spanish listed firms
In spite of the fact that there is empirical evidence that debt tax benefits add to firm value, additional research is needed to explain the apparently conservative debt policy of many firms. This study examines whether the costs of debt and non-debt tax related issues might shed some light on the a...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Universidad de Murcia
2018-07-01
|
| Series: | Revista de Contabilidad: Spanish Accounting Review |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S1138489118300037 |