<scp>Corporate Debt, Hybrid Securities, and the Effective Tax Rate</scp>

Panteghini, Paolo M.

doi:10.1111/j.1467-9779.2011.01537.x

Cited by 4 publications

(3 citation statements)

References 44 publications

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“…Fiscal profit is profit calculated in accordance with tax provisions. The effective tax rate (ETR) is a useful tool for making comparisons between different tax systems (Panteghini, 2012).…”

Section: Effective Tax Ratementioning

confidence: 99%

Determinants of Change of Board of Directors in Transportation Sector Companies on the Indonesia Stock Exchange

Ricky

Haryadi

2022

JEFAS

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The purpose of this study was to determine the factors that affect the change of directors. The independent variables used in this study consisted of the effective tax rate (ETR), price to book value (PBV), and net profit margin (NPM). The population in this study amounted to 28 companies in the transportation sector on the Indonesia Stock Exchange and only 22 issuers who were sampled using the purposive sampling method related to the criteria for issuers to have been listed on the stock exchange before 2019. The form of this research is the associative test. The data analysis technique used logistic regression analysis. The results of the study were processed with the help of SPSS version 25 and showed that the level of profitability as measured by the net profit margin had a negative effect on the turnover of directors, while the effective tax rate and firm value proxied by price to book value had no effect on the decision to change directors.

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Section: Effective Tax Ratementioning

confidence: 99%

Determinants of Change of Board of Directors in Transportation Sector Companies on the Indonesia Stock Exchange

Ricky

Haryadi

2022

JEFAS

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“…K tomu je nutné vytvořit dynamický model; na různé výzkumné otázky ho aplikoval Vlachý (2007Vlachý ( , 2008aVlachý ( , 2008b, který přitom použil analytická, případně iterační řešení jednokrokového opčního modelu k ocenění daňo-vého závazku. Šlo o přístup, který původně navrhli Draaisma a Gordon (1996) a od té doby s ním mimo jiné pracovali Surethová (2002), Panteghini (2003Panteghini ( , 2012, Niemann a Surethová (2005) a Libson (2015.…”

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An Analysis of Central European Tax Systems Using Statistical Simulation

Vlachý¹

2017

Politicka ekonomie

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An Analysis of Central European Tax Systems Using Statistical SimulationThis paper uses a parametric statistical simulation (Monte Carlo) model to investigate and compare the effective lifetime tax burden on variable incomes for private-sector employees in the Czech Republic, Slovakia, Poland and Hungary, based on current rates and calibrated against actual income distributions. It is shown that the existing Czech system is highly inefficient, lacking horizontal as well as vertical equity, and this is aggravated by increased income volatility. On the other hand, higher income risk in all countries, except Hungary using flat tax, results in less progression than expected, primarily due to the existence of a minimum wage, which effectively serves as insurance, and which the dynamic model captures as a system feedback. This finding may contribute to a reassessment of existing assumptions on the detrimental effect of progressive tax systems on the incentives of individuals to undertake risky decisions, such as investments in human capital.

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“…For further details on default conditions seeSmith and Warner (1979), andLeland (1994). For a study of corporate taxation under default risk see alsoPanteghini (2006Panteghini ( , 2007Panteghini ( and 2011 8. Notice that the existence of deferral possibilities and limited credit rules can de facto lead to the application of the source principle.…”

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confidence: 99%

Debt shifting in Europe

Miniaci

Parisi

Panteghini

2013

Int Tax Public Finance

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This article aims to analyze the link between subsidiary capital structure and taxation in Europe. First we introduce a trade-o¤ model, which looks at a MNC's …nancial strategy and in particular debt shifting from low-tax to high-tax jurisdictions. By letting the MNC choose both leverage and the pro…t shifting percentage, we depart from the relevant literature which has mainly focused on the latter. Using the AMADEUS dataset we show that: i) in line with the relevant literature, subsidiary leverage increases with its statutory tax rate; ii) contrary to previous work, if a parent company is located in a high-tax country and its subsidiary is making pro…t, an increase in the parent company's tax rate has a positive impact on the subsidiary's leverage.

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Corporate Debt, Hybrid Securities, and the Effective Tax Rate

Cited by 4 publications

References 44 publications

Determinants of Change of Board of Directors in Transportation Sector Companies on the Indonesia Stock Exchange

Determinants of Change of Board of Directors in Transportation Sector Companies on the Indonesia Stock Exchange

An Analysis of Central European Tax Systems Using Statistical Simulation

Debt shifting in Europe

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