Taxation and Corporate Pension Policy
Section I introduces the material in the context of existing research. In Section II the effects of the tax structure on the desirability of having pension plans and on the funding and investment policies of such plans is discussed. Section III discusses the discrepancies between the prescriptions presented above and current practice. The Appendix contains a detailed analysis of each of the two tax provisions that apply to corporate pension plans.
|Date of creation:||Apr 1981|
|Date of revision:|
|Publication status:||published as Journal of Finance, Vol. 36, no. 1 (1981): 1-13.|
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- Miller, Merton H, 1977. "Debt and Taxes," Journal of Finance, American Finance Association, vol. 32(2), pages 261-75, May.
- Tepper, Irwin & Affleck, A R P, 1974. "Pension Plan Liabilities and Corporate Financial Strategies," Journal of Finance, American Finance Association, vol. 29(5), pages 1549-64, December.
- Sharpe, William F., 1976. "Corporate pension funding policy," Journal of Financial Economics, Elsevier, vol. 3(3), pages 183-193, June.
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