The Effect of Securities regulation and Corporate Tax
für 44.10€ kaufen ··· 9783843391733 ··· 10361102810 ··· This book examines international differences in firms` Cost of Capital across 40 countries. I analyze whether the effectiveness of a country`s Securities regulation, Investors protection, corporate Tax rate and the effective corporate Tax rate are systematically related to cross-country differences in the Cost of Capital. I estimate the firms` implied Cost of Capital for the year 2005 using the Target Price model implemented by Botosan and Plumlee (2005), and the Price Earnings Growth model (PEG-model) implemented by Easton(2005). My results support the research hypothesis and the conclusion that firms from countries with, stronger securities regulation, stronger investors` protection, higher corporate tax rate and higher effective tax rate have a significantly lower cost of capital. However, the security regulation variable was not significantly, but negatively related to the Cost of Capital when I included the control variables of firms` Size and the book-to-market value ratio into the estimation model. This book is value relevant for several investors, stakeholders and firms with common share issue and management making decisions. Hersteller: LAP Lambert Academic Publishing Marke: LAP Lambert Academic Publishing EAN: 9783843391733 Kat: Hardcover/Sozialwissenschaften, Recht, Wirtschaft/Wirtschaft/Betriebswirtschaft Lieferzeit: Sofort lieferbar Versandkosten: Ab 20¤ Versandkostenfrei in Deutschland Icon: https://www.inforius-bilder.de/bild/?I=Sg%2BQ8%2BXz7zfcE%2FP8HcZMuD4k39SwJM0e0F9q4aa76ec%3D Bild:
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