Riforme fiscali in Italia e struttura finanziaria delle imprese
AbstractIn the last thirty years in Italy there have been many tax reforms, which affect in a different way the relationship between tax regimes and financial choices by firms. The article shows how Miller's index, which indicates the advantage of debt with respect to stock financing, has taken different values in the different tax reforms, depending on the tax favour recognized to debt. In particular, after an initial advantage of debt in the Cosciani Reform, the subsequent introduction of the tax credit has rendered the situation uncertain, depending essentially on the relationship between corporate and stockholders tax rates. The Visco Reform has tended to abolish any tax favour of debt. The Tremonti Reform, instead, aims at a tax neutrality with respect to financial decisions by firms, even if it increases the advantage of debt, which is limited by specific tax provisions, as the thin capitalization.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Società editrice il Mulino in its journal Politica economica.
Volume (Year): (2006)
Issue (Month): 1 ()
Contact details of provider:
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statistics
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.