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Discussion of “Valuing the Tax Shield Under Asymmetric Taxation”

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  • Ulrich Schäfer

    (University of Zurich)

Abstract

Lutz Kruschwitz and Andreas Löffler analyze the effect of asymmetric taxation on the effective tax shield ratio of a firm. In the following note, I summarize and critically discuss their results based on a (slightly generalized) version of their model.

Suggested Citation

  • Ulrich Schäfer, 2018. "Discussion of “Valuing the Tax Shield Under Asymmetric Taxation”," Schmalenbach Business Review, Springer;Schmalenbach-Gesellschaft, vol. 70(1), pages 19-23, February.
    • Handle: RePEc:spr:schmbr:v:70:y:2018:i:1:d:10.1007_s41464-017-0032-0
    DOI: 10.1007/s41464-017-0032-0
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    References listed on IDEAS

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    1. Sudipto Sarkar, 2014. "Valuation of tax loss carryforwards," Review of Quantitative Finance and Accounting, Springer, vol. 43(4), pages 803-828, November.
    2. John R. Graham & Mark T. Leary, 2011. "A Review of Empirical Capital Structure Research and Directions for the Future," Annual Review of Financial Economics, Annual Reviews, vol. 3(1), pages 309-345, December.
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