کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
986995 1480927 2006 9 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Back on the balance sheet: The tax effects of contingent claims in commercial banking
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Back on the balance sheet: The tax effects of contingent claims in commercial banking
چکیده انگلیسی
Contingent claims separate revenue and cost into two different time periods. Revenue comes in the initial origination process, while the cost comes upon completion of the contract in the event of default. With banks increasing contingent claims in recent years, a higher taxable income leads to a shift in a bank's balance sheet toward tax-free income and tax-shielding liabilities. This provides a valuable case-study of corporate finance theories of tax management. This paper builds a model to illustrate the income features of contingent claims. Call Reports from 1990-1996 are examined, and show significant evidence of increases in leverage associated with contingent claims.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Review of Financial Economics - Volume 15, Issue 1, 2006, Pages 19-27
نویسندگان
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