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Körperschaftsbesteuerung und Unternehmensverschuldung: Empirische Evidenz von europäischen Firmendaten


Author Info

  • Stöckl, Matthias

    (University of Salzburg)

  • Winner, Hannes

    (University of Salzburg)


Die vorliegende Arbeit untersucht anhand von europäischen Firmendaten den Ein uss der Körperschaftsteuer auf die Unternehmensverschuldung. Dabei wird insbesondere auf Firmenheterogentiät in Bezug auf Firmengröße und Gesellschaftsform fokussiert. Der verwendete Datensatz enthält Bilanzinformationen von etwa 400.000 Firmen aus den 27 EU-Ländern im Zeitraum zwischen 1999 und 2004. Im Einklang mit den theoretischen Erwartungen zeigen die empirischen Ergebnisse einen signi kant positiven Zusammenhang zwischen der Höhe des Körperschaftsteuersatzes und der Fremdkapitalquote. Im Durchschnitt bewirkt eine Senkung des Körperschaftsteuersatzes um 10 Prozentpunkte einen Rückgang der Fremdkapitalquote von zweieinhalb bis drei Prozentpunkten. Dieser E ffekt streut allerdings über die betrachteten Firmentypen.

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Bibliographic Info

Paper provided by University of Salzburg in its series Working Papers in Economics and Finance with number 2010-2.

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Length: 26 pages
Date of creation: 13 Jan 2010
Date of revision:
Handle: RePEc:ris:sbgwpe:2010_002

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Keywords: Capital Structure; Corporate Taxation;

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