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Whether It Is Possible to Increase the Investment Efficiency, Increasing Tax on Profit Rate? An Abnormal Influence of Growth of Tax on Profit Rate on the Efficiency of the Investment

In: The Brusov–Filatova–Orekhova Theory of Capital Structure

Author

Listed:
  • Peter Brusov

    (Financial University under the Government of Russian Federation)

  • Tatiana Filatova

    (Financial University under the Government of Russian Federation)

  • Natali Orekhova

    (Financial University under the Government of Russian Federation)

Abstract

Within modern theory of capital cost and capital structure by Brusov–Filatova–Orekhova (BFO theory) (Brusov et al., Appl Financ Econ 21(11):815–824, 2011a, Res J Econ Bus ICT 2:16–21, 2011b, Res J Econ Bus ICT (UK) 2:11–15, 2011c, Finance Credit 435:2–8, 2011d, Appl Financ Econ 22 (13):1043–1052, 2012a, J Rev Glob Econ 1:106–111, 2012b, J Rev Glob Econ 2:94–116, 2013a, J Rev Glob Econ 2:183–193, 2013b, Cogent Econ Finance 2:1–13, 2014a, J Rev Glob Econ 3:175–185, 2014b; Filatova et al., Bull FU 48:68–77, 2008) and created within this theory modern investment models influence of growth of tax on profit rate on the efficiency of the investment is investigated. It has been shown that for long-term investment projects, as well as for arbitrary duration projects the growth of tax on profit rate change the nature of the NPV dependence on leverage at some value t*: there is a transition from diminishing function NPV(L) when t

Suggested Citation

  • Peter Brusov & Tatiana Filatova & Natali Orekhova, 2023. "Whether It Is Possible to Increase the Investment Efficiency, Increasing Tax on Profit Rate? An Abnormal Influence of Growth of Tax on Profit Rate on the Efficiency of the Investment," Springer Books, in: The Brusov–Filatova–Orekhova Theory of Capital Structure, chapter 0, pages 419-472, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-27929-4_21
    DOI: 10.1007/978-3-031-27929-4_21
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