The influences of China’s Enterprise Income Tax Law reform in 2008 on listed companies’ cost of capital and financing policy
碩士 === 國立政治大學 === 會計研究所 === 99 === This paper investigates how China’s Enterprise Income Tax Law reform in 2008 influences listed companies’ cost of capital and financing policy. The empirical results show that: for the cost of capital, the reform declines the listed companies’ cost of capital, and...
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| Format: | Others |
| Language: | zh-TW |
| Published: |
2011
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| Online Access: | http://ndltd.ncl.edu.tw/handle/85716038444438407666 |
| Summary: | 碩士 === 國立政治大學 === 會計研究所 === 99 === This paper investigates how China’s Enterprise Income Tax Law reform in 2008 influences listed companies’ cost of capital and financing policy. The empirical results show that: for the cost of capital, the reform declines the listed companies’ cost of capital, and the degree of decline is positively correlated with their effective tax rate. For the financing policy, although the reform declines the listed companies’ debt ratio, this condition is unrelated with their effective tax rate.
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