Taxes and Corporate Debt Policy in Canada: An Empirical Investigation

1996 ◽  
Vol 29 (3) ◽  
pp. 556 ◽  
Author(s):  
Pauline M. Shum
Keyword(s):  
Empirical Investigation ◽  
Corporate Debt ◽  
Debt Policy

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>

scholarly journals A Sector Wise Influence of Equity Ownership Holding on the Corporate Debt Policy- An Empirical Analysis

2010 ◽  
Vol 9 (2) ◽  
pp. 50-58
Author(s):  
R. Shunmughan ◽  
Sengottuvel E.P.
Keyword(s):  
Regression Analysis ◽  
Empirical Analysis ◽  
Significant Relationship ◽  
Descriptive Statistics ◽  
Corporate Debt ◽  
Power Sector ◽  
Equity Ownership ◽  
Debt Policy

This paper aims to analyse the effect of equity ownership holding pattern on the corporate debt policy under a sector wise classification. The study uses a sample of thirty six firms in the construction of BSE- 200 index during the period 1999-2009. The study has used Regression analysis and Descriptive statistics to quantify the argument. This paper finds a significant relationship between debt policy and public holding pattern in all the sectors. Promoters holding show insignificant relation for the Transport and Power sector.

Theories of Corporate Debt Policy: A Synthesis

1979 ◽  
Vol 34 (2) ◽  
pp. 371-384 ◽  
Author(s):  
ANDREW H. CHEN ◽  
E. HAN KIM
Keyword(s):  
Corporate Debt ◽  
Debt Policy

Tax shelters and corporate debt policy

2006 ◽  
Vol 81 (3) ◽  
pp. 563-594 ◽  
Author(s):  
John R. Graham ◽  
Alan L. Tucker
Keyword(s):  
Corporate Debt ◽  
Tax Shelters ◽  
Debt Policy

scholarly journals Pengaruh Kepemilikan Institusional Dan Ukuran Perusahaan Terhadap Kebijakan Hutang Dan Nilai Perusahaan (Studi Pada Perusahaan Manufaktur Yang Terdaftar Di Bei)

2012 ◽  
Vol 4 (1) ◽  
pp. 51 ◽  
Author(s):  
Elva Nuraina
Keyword(s):  
Firm Size ◽  
Firm Value ◽  
Stock Exchange ◽  
Analytical Techniques ◽  
Institutional Ownership ◽  
Corporate Debt ◽  
Manufacturing Companies ◽  
Normality Test ◽  
Public Company ◽  
Debt Policy

AbstractThis study aims to test empirically: 1)the influence of institutional ownership on corporate value, 2)the effect of firm size on firm value, 3)the influence of institutional ownership on debt policy, 4)the effect of firm size on debt policy. The population in this study is a public company in Indonesia Stock Exchange with manufacturing companies in the sample. Sampling method using purposive sampling. Analytical techniques used in this study using multiple linear regression which include normality test, test classic assumptions and hypothesis testing. The results showed that 1) the institutional ownership has a significant effect confirm value, 2) the size of the company has a significant effect on firm value, 3) institutional ownership have a significant effect on corporate debt policy, 4) firm size had no significant effect on corporate debt policy.

scholarly journals PENGARUH KEBIJAKAN DEVIDEN, PROFITABILITAS, STRUKTUR ASET DAN PERTUMBUHAN PERUSAHAAN TERHADAP KEBIJAKAN HUTANG PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR SEKTOR BARANG KONSUMSI YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2014

2017 ◽  
Vol 8 (1) ◽  
Author(s):  
Merna Merna
Keyword(s):  
Multiple Regression ◽  
Consumer Goods ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Corporate Debt ◽  
Manufacturing Companies ◽  
Font Size ◽  
Company Policy ◽  
Debt Policy

<p><em><span style="font-size: medium;">This study aims to examine and analyze how the influence of dividend policy , profit , asset structure and growth of the company's debt policy . The data used is the consumer goods sector manufacturing companies listed in Indonesia Stock Exchange in 2014. There are 32 companies sampled and in accordance with the criteria . Testing this study using multiple regression and the results showed that the influence of corporate debt policy only asset structure . While the dividend policy , profitability , and growth company policy does not affect the company's debts .</span></em><em></em></p><p><em><span style="font-family: Times New Roman; font-size: medium;"> </span></em></p><pre><strong><em>Keyword:</em></strong><em> </em><em>debt policy , dividend policy , profitability , asset structure and growth </em><em>of the company</em></pre>

scholarly journals Analisis Pengaruh Kepemilikan Institusional, Kepemilikan Manajerial, Pertumbuhan Perusahaan, dan Ukuran Perusahaan Terhadap Kebijakan Utang

2020 ◽  
Vol 3 (2) ◽  
pp. 267-276
Author(s):  
Intan Rahma Sari
Keyword(s):  
Panel Data ◽  
Time Series Data ◽  
Secondary Data ◽  
Institutional Ownership ◽  
Series Data ◽  
Corporate Debt ◽  
Managerial Ownership ◽  
Company Size ◽  
Company Growth ◽  
Debt Policy

The purpose of this study was to examine the effect of Institutional Ownership, Managerial Owner ship, Company Growth and Company Size on Debt Policy (Empirical Study of Banking Companies Listed on the Indonesia Stock Exchange in 2012-2016). Method/Approach The data in this study is secondary data in the form of panel data. Secondary data is data obtained not directly from the object or subject of research. Panel data is a combination of time series data and cross data. The results of, Institutional Ownership Variable proved to show a positive value. This research has proven that institutional ownership has a positive but not significant effect on corporate debt policy. This is because if the company uses a large amount of debt to fund high-risk projects, has the possibility of failure, then the institutional shareholders can immediately sell their shares. Managerial Ownership Variables are shown to show negative values. This is because share ownership by management has a negative causal relationship and substitution with debt. The Company's Growth Variable is proven by its debt policy showing a negative value. Company growth has a negative but not significant effect on corporate debt policy. Company size has a negative but significant influence on corporate debt policy. The conclusions of the study, Institutional Ownership, Managerial Ownership and Corporate Growth influence but not significant and significant results obtained on the size of the company on debt policy. Institutional ownership, managerial ownership, company growth and company size jointly influence but not significantly to debt policy. Abstrak Tujuan Penelitian ini adalah untuk menguji pengaruh Kepemilikan Institusional, Kepemilikan Manajerial, Pertumbuhan Perusahaan dan Ukuran Perusahaan terhadap Kebijakan Utang (Studi Empiris Perusahaan Perbankan Yang Terdaftar di Bursa Efek Indonesia Tahun 2012-2016). Metode/Pendekatan Data dalam penelitian ini merupakan data sekunder berbentuk data panel. Data sekunder di dapatkan secara tidak langsung dari objek atau subjek penelitian. Data panel merupakan data gabungan antara data runtut waktu dan data silang. Hasil penelitian, Variabel Kepemilikan Institusional (Inst) terbukti menunjukkan nilai positif. Penelitian ini berhasil membuktikan bahwa kepemilikan institusional memiliki pengaruh positif namun tidak signifikan terhadap kebijakan utang perusahaan. Hal ini memungkinkan, jika perusahaan menggunakan hutang dalam jumlah yang besar untuk mendanai proyek yang berisiko tinggi, maka kemungkinan kegagalan bisa terjadi, oleh karena itu pemegang saham institusional dapat langsung menjual saham yang dimilikinya. Variabel Kepemilikan Manajerial terbukti menunjukkan nilai negatif. Hal ini dikarenakan Kepemilikan saham oleh manajemen memiliki hubungan kausal negatif dan substitusi dengan hutang. Variabel Pertumbuhan Perusahaan membuktikan bahwa kebijakan utang menunjukkan nilai negatif. Penelitian ini berhasil membuktikan bahwa pertumbuhan perusahan memiliki pengaruh negatif yang tidak signifikan terhadap kebijakan utang perusahaan. Pertumbuhan perusahaan dapat dilihat dari total aktiva, tidak semuanya berasal dari hutang. Variabel Ukuran perusahaan (LN) terbukti menunjukkan nilai negatif. Penelitian ini berhasil membuktikan bahwa ukuran perusahaan memiliki pengaruh negatif tidak signifikan terhadap kebijakan utang perusahaan. Simpulan penelitian, Kepemilikan Institusional, Kepemilikan Manajerial dan Pertumbuhan Perusahaan berpengaruh tidak signifikan dan hasil signifikan didapat pada ukuran perusahaan terhadap kebijakan utang. Kepemilikan Institusional, Kepemilikan Manajerial, Pertumbuhan Perusahaan dan Ukuran Perusahaan secara bersama-sama berpengaruh tidak signifikan terhadap kebijakan utang. Kata Kunci : Kepemilikan Institusional, Manajerial, Pertumbuhan dan Ukuran Perusahaan

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