How big are the tax benefits of debt?

How big are the tax benefits of debt? (2000)

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by John R. Graham

Venue:	JOURNAL OF FINANCE
Citations:	66 - 8 self

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@ARTICLE{Graham00howbig,
    author = {John R. Graham},
    title = {How big are the tax benefits of debt?},
    journal = {JOURNAL OF FINANCE},
    year = {2000},
    volume = {55},
    number = {5},
    pages = {1901--1941}
}

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Citations

686	Corporate Financing and Investment Decisions When Firms Have Information That Investors Do Not Have - Myers, Majluf - 1984
586	Agency costs of free cash flow, corporate finance, and takeovers - Jensen - 1986
543	Determinants of Corporate Borrowing - Myers - 1977
454	The cost of capital, corporation finance, and the theory of investment - Modigliani, Miller - 1958
362	Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy - Altman - 1968
186	The Theory and Practice of Corporate Finance: Evidence from the Field - Graham, Harvey - 2001
152	Debt and Taxes - Miller - 1977
149	Managerial Discretion and Optimal Financing Policies - Stulz - 1990
123	The Determinants of Capital Structure Choice,” The - Titman, &Wessells - 1988
102	Dynamic capital structure choice: Theory and tests - Fischer, Heinkel, et al. - 1989
90	How Costly is Financial (not Economic) Distress? Evidence from Highly Levered Transactions that Became Distressed - Andrade, Kaplan - 1998
83	Optimal Capital Structure under Corporate and Personal Taxation - DeAngelo, Masulis - 1980
81	The Determinants and Implications of Corporate Cash Holdings - Opler, Pinkowitz, et al. - 1999
70	Debt and the marginal tax rate - Graham - 1996
67	Measuring Corporate Bond Mortality and Performance - Altman - 1989
65	The Effect of Capital Structure on a Firm’s Liquidation Decision - Titman - 1984
61	An EBIT-Based Model of Dynamic Capital Structure - Goldstein, Ju, et al. - 2001
61	Corporate income taxes and the cost of capital: a correction - Modigliani, Miller - 1963
57	Managerial Entrenchment and Capital Structure Decisions - Philip, Ofek, et al. - 1997
54	Timing, investment opportunities, managerial discretion, and the security issue decision - Jung, Kim, et al. - 1996
50	A Simple Approximation of Tobin’s q - Chung, Pruitt - 1994
48	Marginal Stockholder Tax Rates and the Clientele Effect - Elton, Gruber - 1970
46	Do Taxes Affect Corporate Financing Decisions - MacKie-Mason - 1990
45	The Paradox of Liquidity,‖ Quarterly - Myers, Rajan - 1998
40	The valuation of cash flow forecasts: An empirical analysis - Kaplan, Ruback - 1995
32	Debt, leases, taxes, and the endogeneity of corporate tax status - Graham, Lemmon, et al. - 1998
31	Do LBO Supermarkets Charge More? An Empirical Analysis of the Effects of LBOs on Supermarket Pricing - Chevalier - 1995
28	Increased Debt and Industry Product Market: An Empirical Analysis - Phillips - 1995
26	Proxies for the Corporate Marginal Tax Rate - Graham - 1996
25	Measuring Investment Distortions arising from Stockholder-Bondholder Conflicts - Parrino, Weisbach - 1999
25	The rate of return to corporate capital and factor shares: new estimates using revised national income accounts and capital stock data. NBER Working Paper No - Poterba - 1997
19	http://links.jstor.org/sici?sici=0266-4666%28199106%297%3A2%3C213%3ASLFDHP%3E2.0.CO%3B2-T Inference When a Nuisance Parameter Is Not Identified Under the Null Hypothesis - URL - 1996
17	Estimating corporate marginal tax rates with asymmetric tax treatment of gains and losses - Shevlin - 1990
17	http://links.jstor.org/sici?sici=0002-8282%28198605%2976%3A2%3C120%3ATAMGTO%3E2.0.CO%3B2-6 NOTE: The reference numbering from the original has been maintained in this citation list - URL - 1998
15	Capital market imperfections and the incentive to lease - Sharpe, Nguyen - 1995
15	http://links.jstor.org/sici?sici=0033-5533%28199002%29105%3A1%3C167%3ATDODI%3E2.0.CO%3B2-G Dynamic Voluntary Contribution to a Public Project Leslie M - URL - 2000
13	Still Searching for Optimal Capital Structure - Myers - 1993
13	http://links.jstor.org/sici?sici=0022-1082%28196103%2916%3A1%3C8%3ACAACST%3E2.0.CO%3B2-L Incentive Efficiency of Double Auctions Robert - URL - 1985
12	Do Personal Taxes Affect Corporate Financing Decisions - Graham - 1999
12	A Simple Model of the Taxable and Tax-Exempt Yield Curves,”Review of Financial Studies - Green - 1993
11	Effects of the Tax Reform Act of 1986 on Corporate Financial Policy and Organizational - Gordon, MacKie-Mason - 1990
11	How big is the tax advantage to debt - Kane, Marcus, et al. - 1984
9	Interest Allocation Rules, Financing Patterns, and the Operations of U.S. Multinationals - Froot, Hines - 1995
8	Default Risk Cannot Explain the Muni Puzzle: Evidence from Municipal Bonds That Are Secured by U.S. Treasury Obligations," The Review of Financial Studies 11 (2) (Summer - Chalmers - 1998
8	Measuring Corporate Tax Rates and Tax Incentives: A New Approach - John, Lemmon - 1998
8	Taxes and Business Strategy: A Planning Approach (PrenticeHall - Scholes, Woifson - 1992
8	A Direct Examination of the Dividend Clientele Hypothesis - Scholz - 1992
8	http://links.jstor.org/sici?sici=0893-9454%281990%293%3A2%3C175%3AWACPDT%3E2.0.CO%3B2-5 The New Issues Puzzle Tim Loughran; Jay R. Ritter The - URL - 1995
7	Tax Reform and the Market for Tax-Exempt Debt - Poterba - 1989
6	Inflation and the taxation of capital income in the corporate sector - Feldstein, Summers - 1979