Dividend tax and capital structure: Evidence from China
Dividend tax and capital structure: Evidence from China
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股息税和资本结构：来自中国的证据
DOI：
10.1080/21697213.2015.1067854
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发表时间：
2015-07
影响因子：
--
通讯作者：
Shenghao Gao
中科院分区：
文献类型：
--
作者：
Hang Liu;Yixin Zhang;Shenghao Gao
现有文献大多聚焦于公司税对资本结构的影响。很少有研究从个人税的角度来探究这种影响。来自中国制度背景的相关证据尤为匮乏。2012年股息税……（这里“2012 dividend tax r”表述似乎不完整，你可以检查一下是否有误）
The extant literature focuses mostly on the impact of corporate tax on capital structure. Few studies explore this impact from the perspective of personal tax. Evidence from a Chinese institutional background is especially limited. The 2012 dividend tax reform in China directly links individual investors’ dividend tax to the length of the share holding period. Using this reform, we find that firms with a long (short) investors’ share holding period experience a significant decrease (increase) in debt financing due to decreased (increased) dividend tax. We also show that the effect of dividend tax on capital structure is more pronounced in large dividend payout firms. Further, we find that the effect of dividend tax on debt varies among the different forms of debt financing. Our study adds to the literature on tax and corporate finance and fills a gap in Chinese research on related areas.
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影响因子：
8
作者：
Baker, M;Wurgler, J
通讯作者：
Wurgler, J
DOI：
10.2139/ssrn.585703
发表时间：
2004-07
期刊：
Corporate Finance: Capital Structure & Payout Policies
影响因子：
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作者：
Brandon Julio;D. Ikenberry
通讯作者：
Brandon Julio;D. Ikenberry
政治不确定性、股利政策调整与市场影响
影响因子：
--
作者：
雷光勇;王文忠;刘茉
通讯作者：
刘茉
影响因子：
8
作者：
E. Altman
通讯作者：
E. Altman
DOI：
10.2139/ssrn.1979501
发表时间：
2015-06
期刊：
Corporate Finance: Capital Structure & Payout Policies eJournal
影响因子：
--
作者：
E. Floyd;Nan Li;Douglas J. Skinner
通讯作者：
E. Floyd;Nan Li;Douglas J. Skinner