scholarly journals The Relationship between Government Financial Condition and Expected Tax Rates Reflected in Municipal Bond Yields

1995 ◽  
Author(s):  
Sangkyun Park
Keyword(s):  
Tax Rates ◽  
Municipal Bond ◽  
Bond Yields ◽  
Financial Condition ◽  
The Relationship

MUNICIPAL BOND YIELDS: WHOSE TAX RATES MATTER?

1988 ◽  
Vol 41 (2) ◽  
pp. 219-233
Author(s):  
PETER FORTUNE
Keyword(s):  
Tax Rates ◽  
Municipal Bond ◽  
Bond Yields

PENGARUH FAMILY OWNERSHIP, PERUBAHAN TARIF PAJAK DAN KEBIJAKAN HUTANG TERHADAP NILAI PERUSAHAAN

2017 ◽  
Vol 9 (2) ◽  
Author(s):  
Elfina Astrella Sambuaga
Keyword(s):  
Ownership Structure ◽  
Tax Reform ◽  
Stock Exchange ◽  
Family Ownership ◽  
Corporate Debt ◽  
Tax Rates ◽  
Manufacturing Companies ◽  
The Impact ◽  
The Relationship ◽  
Debt Policy

<p>This study aims to provide empirical evidence related to the influence of family ownership, tax reform on corporate debt policy, and further prove the impact on the firm value.This study examined the effect of changes in tax rates in 2009 and 2010 on the relationship between family ownership structure and corporate debt policy. The population of this research is manufacturing companies listed in Indonesia Stock Exchange for 8 consecutive years (2006-2013), with the period of observation for 7 years (2007-2013). A period of 8 years was taken to see a company that is consistently listed on the Stock Exchange prior to the end of the observation period. The result of this study shows that tax reform from progressive tax rates to a flat rate does not affect the relationship between family ownership structure and corporate debt policy. In contrast to the year 2009, changing rate from 28% to 25% in late 2010 was a significant effect on the debt policy with the company of family ownership. Based on the results, it was found that family ownership and debt policy significantly affect the company's enterprise value. It can be concluded, the higher the family ownership, the company's value would be diminished. Instead, the company's value will increase when the company adds to its debt policy.</p><p>Keywords : debt policy, family ownership, firm value, tax reform.</p>

Sea Level Rise and Municipal Bond Yields

2019 ◽  
Author(s):  
Paul S. Goldsmith-Pinkham ◽  
Matthew Gustafson ◽  
Ryan Lewis ◽  
Michael Schwert
Keyword(s):  
Sea Level Rise ◽  
Sea Level ◽  
Municipal Bond ◽  
Bond Yields

Geography and Local (Dis)advantage: Evidence from Muni Bond Funds

2016 ◽  
Vol 06 (03) ◽  
pp. 1650008 ◽  
Author(s):  
Saiying Deng ◽  
David Rakowski
Keyword(s):  
Mutual Fund ◽  
Knowledge Spillovers ◽  
Geographic Location ◽  
Municipal Bond ◽  
Fund Managers ◽  
Non Local ◽  
Bond Fund ◽  
Business Connections ◽  
Bond Mutual Funds ◽  
The Relationship

We examine the relationship between the geographic location of mutual fund managers and fund performance using the unique setting of single-state municipal-bond mutual funds. We find that local managers underperform non-local muni-bond fund managers. Furthermore, we document that local muni-bond fund managers perform relatively better in states with more local funds, consistent with knowledge spillovers, business connections and networking effects associated with those areas. Locals also perform relatively better in states with higher levels of political integrity, consistent with less political pressure on local fund managers in these locations. Our results are robust to several sensitivity checks.

An empirical study of enrollment in Vermont's Use Value Appraisal property tax program

1992 ◽  
Vol 22 (9) ◽  
pp. 1209-1214 ◽  
Author(s):  
Donald F. Dennis ◽  
Paul E. Sendak
Keyword(s):  
Empirical Study ◽  
Population Growth ◽  
Property Tax ◽  
Probit Model ◽  
Education Level ◽  
Use Value ◽  
Tax Rates ◽  
Forest Land ◽  
Negative Effect ◽  
The Relationship

A probit model was used to analyze the relationship between the probability of enrollment in Vermont's Use Value Appraisal property tax program for forest land and characteristics of the parcel, owner, and surrounding community. The results suggest that continued fragmentation of the forest and population growth will have a negative effect on enrollment, but these effects may be mitigated by increases in the education level of landowners and by increases in assessed values and property tax rates.

scholarly journals The relationship between tax rates and tax revenues in eurozone member countries ‐ exploring the Laffer curve

2019 ◽  
Vol 72 (2) ◽  
pp. 121-145
Author(s):  
Alexandra Ferreira‐Lopes ◽  
Luís Filipe Martins ◽  
Ruben Espanhol
Keyword(s):  
Tax Rates ◽  
Laffer Curve ◽  
Tax Revenues ◽  
The Relationship

scholarly journals Capital Gains Sensitivity of US BBB-Rated Debt to US Treasury Market: Markov-Switching Analyses

Complexity ◽  
2020 ◽  
Vol 2020 ◽  
pp. 1-13
Author(s):  
Mariya Gubareva ◽  
Ilias Chondrogiannis
Keyword(s):  
Business Cycles ◽  
Interest Rates ◽  
Capital Gains ◽  
Capital Gain ◽  
Bond Yields ◽  
Hedging Strategy ◽  
Treasury Bonds ◽  
Bond Portfolio ◽  
Policy Suggestions ◽  
The Relationship

We reexamine the relationship between credit spreads and interest rates from a capital gain perspective of bond portfolio. Capital gain sensitivity between US BBB-rated bonds and Treasury bonds is weak and positive in normal periods, but strong and negative during recessions. In the upward phase of business cycles, changes in interest rates are fully reflected in the bond yields, leaving spreads unchanged, while in the downward phase, rates and spreads move in opposite directions. This alternation between two distinct regimes reconciles a long-standing division in the literature. We then discuss the efficiency of shorting Treasury bonds as a hedging strategy and policy suggestions.

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