The Effects of Changes in Tax Laws on Corporate Reorganization Activity
The authors present evidence that changes in tax laws passed in the 1980s had a first-order effect on merger and acquisition activity in the United States. They also present evidence of increased reliance on certain institutional arrangements (unit-management buyouts and going-private transactions) that were destined to reduce the nontax costs of reorganization. Their model predicts and their evidence confirms that while the Tax Reform Act of 1986 discouraged transactions among U.S. corporations, it increased the demand for merger and acquisition transactions between U.S. sellers and foreign buyers. Copyright 1990 by the University of Chicago.
If 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.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Alan J. Auerbach & James M. Poterba, 1987.
"Tax Loss Carryforwards and Corporate Tax Incentives,"
in: The Effects of Taxation on Capital Accumulation, pages 305-342
National Bureau of Economic Research, Inc.
- Alan J. Auerbach & James M. Poterba, 1986. "Tax Loss Carryforwards and Corporate Tax Incentives," Working papers 413, Massachusetts Institute of Technology (MIT), Department of Economics.
- Alan J. Auerbach & James M. Poterba, 1986. "Tax Loss Carryforwards and Corporate Tax Incentives," NBER Working Papers 1863, National Bureau of Economic Research, Inc.
- Schipper, Katherine & Thompson, Rex, 1983. "Evidence on the capitalized value of merger activity for acquiring firms," Journal of Financial Economics, Elsevier, vol. 11(1-4), pages 85-119, April.
When requesting a correction, please mention this item's handle: RePEc:ucp:jnlbus:v:63:y:1990:i:1:p:s141-64. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Journals Division)
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.