کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
960105 929410 2011 19 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
The value of a flow-through entity in an integrated corporate tax system
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری حسابداری
پیش نمایش صفحه اول مقاله
The value of a flow-through entity in an integrated corporate tax system
چکیده انگلیسی

In an integrated corporate tax system, resident shareholders receive a tax credit for corporate tax paid that can be used to offset personal tax on dividend income. Nonresident and tax-exempt (pension plan) investors cannot use the tax credit on corporate dividends and thus prefer to invest in flow-through entities. We estimate the value of the flow-through entity to nonresident and pension plan investors by examining the price change around the date of an unexpected announcement of a change in tax law related to Canadian publicly traded income trusts units creating an entity-level tax that makes them no longer tax-favored to these investors.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Financial Economics - Volume 101, Issue 2, August 2011, Pages 473–491
نویسندگان
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